Better financial reporting.

• Position: CHANGING GUARD

An SEC advisory committee has submitted a report containing 25 recommendations to make financial information more useful and understandable to investors by providing proposals to improve financial reporting in five main areas:

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* Increasing the usefulness of SEC filing information.

* Enhancing the accounting standards-setting process.

* Improving the substantive design of new standards.

* Delineating authoritative interpretive guidance.

*...