The Earnings Verification Bureau: Why Your Company's Q3 Report Now Requires Six Stamps Before Revenue Recognition
NEW YORK — In a stunning turn of events that will reshape corporate transparency forever, the Securities and Exchange Commission has announced it will now accept only earnings reports bearing the “Official Earnings Verification Bureau Seal.” The bureau, established in response to last quarter’s “earnings management scandal” involving three Fortune 500 CEOs, insists that all revenue figures must be pre-verified by a panel of three certified “truth validators” before they can be reported to shareholders.