Bank Financial Disclosures: Actions Needed to Improve Oversight of Information Provided to Investors
What GAO Found Congress and the Securities and Exchange Commission (SEC) require public companies to disclose information that investors would find important when making investment decisions. Disclosures include an annual audited financial statement and a description of risk factors and financial performance. Accounting firms that audit public companies must register with the nonprofit Public Company Accounting Oversight Board (PCAOB), which Congress created in 2002 to focus on audit quality. Certain auditor responsibilities—such as evaluating a company’s accounting estimates and ability to continue as a going concern—can be particularly challenging in bank audits, according to PCAOB staff,.
Reported by Maria LopezBank Financial Disclosures: Actions Needed to Improve Oversight of Information Provided to Investors.
The item is dated Thu, 03 Sep 2026 07:15:19 -0400.
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What GAO Found Congress and the Securities and Exchange Commission (SEC) require public companies to disclose information that investors would find important when making investment decisions.
Disclosures include an annual audited financial statement and a description of risk factors and financial performance.
Accounting firms that audit public companies must register with the nonprofit Public Company Accounting Oversight Board (PCAOB), which Congress created in 2002 to focus on audit quality.
Certain auditor responsibilities—such as evaluating a company’s accounting estimates and ability to continue as a going concern—can be particularly challenging in bank audits, according to PCAOB staff,…
The handoff preserves the official source citation and source-completeness evidence supplied by discovery.
Official Source
GAO reports and testimonies RSS. Accessed 2026-09-03T15:00:02.549Z.