- Your research paper is written by certified writers
- Your requirements and targets are always met
- You are able to control the progress of your writing assignment
- You get a chance to become an excellent student!
Essay Details:
Essay text:
To this end, staff of the Divisions of Corporation Finance, Enforcement and Market Regulation and of the Office of Chief Accountant of the Securities and Exchange Commission would like to bring to your attention some of our ongoing concerns about investor access to full and accurate information regarding municipal issuers and their securities.
A number of Commission enforcement actions have highlighted continued disclosure weaknesses, raised concerns about governmental accounting, and suggested the need for improvements to disclosure practices. These enforcement actions involved allegations that in disclosure documents used in offerings or other information provided to investors:
• the City of San Diego, California failed to disclose the gravity of its enormous pension and retiree health liabilities or that those liabilities had placed the City in serious financial jeopardy;2
• the City of Miami, Florida failed to disclose an unprecedented cash flow shortage which it had eased, in part, by spending the proceeds of bonds issued for other purposes for operating costs;3
• Maricopa County, Arizona failed to disclose a material decline in its financial condition and operating cash flow, the substantial deficit in its general fund, and increased deficit in another fund;4
• the City of Syracuse, New York falsely claimed a surplus for its general and debt service funds, materially overstated its ending fund balances in those funds, and misled investors by describing certain financial information as audited;5
1 The Internal Revenue Code delineates the purposes for which tax-exempt municipal bonds may be issued for the benefit of organizations other than states and local governments, i...
Calculate a fair price for your order
Do you need an essay?
A professional team of writers is able to craft custom essays from scratch according to your instructions. We are ready to satisfy writing needs of every demanding customer.
Do you need many essays?
The product provided is intended to be used for research or study purposes. Get instant access to over 200,000 papers.
Common topics in this essay:
- Florida Gubernatorial Race 2006 Analysis
- Arthur Andersen: Questionable Accounting Practices
- A STUDY ON THE MARKET PRACTICES OF METTUPALAYAM
- Disclosure and Accounting Practices in the Municipal Securities Market
- Elaborate and explain the organizational structure, powers & function of the Securities Commission with a brief comparison and/or reference to the Kuala Lumpur Stock Exchange and Kuala Lumpur Commodities Exchange.
- Investment Risk in Stock Market Securities
- independent corrupt practices commission in nigeria
- Securities and Exchange Commission vs. Richard Hawkins
- securities market in turkey
- The Securities And Exchange Commission
- The Securities And Exchange Commission
- The Securities and Exchange Commission
- Today's Accounting Practices
- JDS Uniphase Accounting Practices
- securities market
Feedback of people who used our services.
Similar Essays:
1 pages / 254 words |
|||
2 pages / 580 words |
|||
7 pages / 2035 words |
|||
2 pages / 586 words |
|||
1 pages / 245 words |
|||
2 pages / 330 words |
|||
2 pages / 311 words |