SEC Open to Questions on Accounting Impact of Ukraine War

Wall Street regulators are closely monitoring the financial reporting implications of Russia’s invasion of Ukraine and how it affects what companies report to investors, an SEC accountant said Tuesday.

A number of companies have already disclosed changes to their business operations because of the war and sanctions against Russia. While the Securities and Exchange Commission doesn’t yet have plans to issue formal guidance on how to decide when to impair an asset or line of business affected by the war, the Office of the Chief Accountant is available for questions companies may have, said Kevin Vaughn, senior associate chief accountant ...