The Effect of the SEC’s Accelerated Filing Deadline on Earnings Timeliness

• In Event: Financial Accounting and Reporting 4

Abstract

I examine whether the accelerated 10-K filing deadline affects earnings timeliness. The SEC’s acceleration of the filing deadline of Form 10-K took effect in 2003. In proposing a new rule, the SEC asserted that the usefulness of the 10-K would increase because of the improved timeliness of the report. On the other hand, opponents claimed that the quality and accuracy of the report could be impaired. I compare timeliness of pre-acceleration period to that of post-acceleration period. Overall, my findings provide little support for the SEC’s claim that the accelerated deadline would improve timeliness of periodic reports.

Author

• Amy E. Ji, Saint Joseph's University