January 4, 2010
Third-Party Review of Executive Compensation Practices
In this CompensationStandards.com podcast, Greg Taxin discusses Soundboard Review Services activities, including:
– Why was Soundboard founded?
– What opportunities for boards does Soundboard provide? How does it differ from what advisors do today?
– What is the diligence process that Soundboard undertakes to understand a company’s executive compensation processes?
– What is the “opinion letter” that Soundboard provides at the end of its evaluation?
Heads Up: Change in Edgar Search Functionality
A while back, I blogged that the SEC had decided to name its “IDEA” tool so that it would become “Next-Generation EDGAR.” The SEC has now posted a notice – which appears on their “Company Search” page – indicating that as of August 19th, Edgar filings will be accessed only by an Edgar script as the Idea script will no longer be operational. This change will be transparent to most users, but bookmarked links to previous filing searches or RSS feeds may be broken and will need to be recreated. As Jim Brashear of Haynes & Boone remarked to me: “What’s comes after the “Next-Generation EDGAR System”? “Next-Next Generation”?
As an aside, now that XBRL has been mandated for some larger companies, sites that display SEC filings in a more user-friendly way than the SEC are springing up. For example, check out XBRLCloud.com, which includes a list of the number of errors in each XBRL filing. And this “SEC Data Guy” Blog is helping to further explain what “errors” really are in XBRL filings. I must say, this stuff is confusing…
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– Broc Romanek