SEC Accountant Stresses Tariff Disclosure Given Refund Ambiguity

The SEC’s top accountant emphasized the importance of corporate financial disclosure related to US tariffs as C-suite leaders and investors remain uncertain about refunds.

Businesses that sold inventory including some level of tariffs on imports may need to adjust their financial reports going forward if refunds are issued for tariffs that were struck down. They should disclose “material” details to investors, Securities and Exchange Commission Chief Accountant Kurt Hohl said Friday at an agency conference.

Volatile trade policy is among other macroeconomic trends businesses have weighed when preparing their annual filings.

“Not many people are recognizing their tariff refunds ...