Pandemic Highlights Importance of Disclosures
Mar. 26 2021
Brandon Landas, partner in the National SEC Department at BDO, participated in a video interview in conjunction with REITwise 2021: Nareit’s Law, Accounting & Finance Conference.
Landas discussed a REITwise conference session he co-presented titled “PCAOB & SEC Non-legal Update.” He said his focus on the current regulatory environment is twofold: understanding and implementing a number of new rules; and paying attention to SEC staff speeches and activities to understand the direction the commission may be going in the future.
“Right now, we’re in a bit of a flux,” Landas said. “This commission is at four members, and we’re waiting on the final confirmation of President Biden’s nominee Gary Gensler to become the chairman.”
From a financial reporting perspective, Landas said the pandemic brings up the importance of clear and transparent disclosures.
“Key performance indicators have always been an important measure to be presented for REITs and their investors,” he added. “Similarly, disclosures about trends impacting the company or expected to impact the company in the future provide investors with a more comprehensive picture of the company.”