September 28, 2021
Reuters quoted Chairman & CEO Jeffrey Weiner in an article about the SEC’s new crackdown on the accounting treatment of SPAC equity.
Reuters
By Anirban Sen and Chris Prentice, Krystal Hu
Excerpt:
“It’s a change in accounting treatment and a change in the way the SEC views the issue,” said Jeffrey Weiner, chief executive of Marcum LLP, which handles over 40% of SPAC audit work, according to data from SPACInsider… “The current accounting treatment had been in place and accepted for years,” said Marcum’s Weiner. He said some Marcum partners have spoken with SEC staff about the issue.
