The private market ecosystem experienced strong growth in 2021. The number of recognized unicorns (defined as private companies having $1B+ valuation) grew from 564 in 2020 to 882 in 2021. Nasdaq Private Markets’ (“NPM”) 2021 Annual Report noted that in addition to elevated deal size for companies, secondaries have evolved as an avenue to provide
Brian Saleeby
The SEC’s Acting Chief Accountant’s Perspective
By Brian Saleeby on
Assessing Materiality: Focusing on the Reasonable Investor When Evaluating Errors
On March 9, 2022, the Office of the Chief Accountant (“OCA”), released a statement regarding assessing the materiality of financial reporting errors. The OCA used this statement to rehash guidance on the concept of materiality and the correction of material errors, evaluate methods of performing…