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Article: Pro forma on the rise. (news front).(survey of investor relations consultants)(Brief Article)
- Article from:
- The Practical Accountant
- Article date:
- March 1, 2002
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A majority of companies has embraced "pro forma" financial reporting, a method drawing increasing scrutiny and the subject of an SEC enforcement action last winter.
The National Investor Relations Institute (NIRI), a Vienna, Va.-based professional association of corporate officers and investor relations consultants, has released findings of a survey of 233 NIRI member companies to determine the extent of corporate use of pro forma and adherence to the FEI/NIRI guidelines for pro forma reporting. Questions covered whether the companies report results using pro forma, as well as whether pro forma-reported results also reported under GAAP, clearly disclosed paths or ...