SPACS – Accounting and Reporting Considerations for Boards and Audit Committees - a podcast by BDO USA, LLP

Join BDO's Center for Corporate Governance Amy Rojik and Paula Hamric and Meghan Depp of BDO’s National SEC Practice office as they discuss the financial reporting and accounting considerations that audit committees and boards need to understand when contemplating special purpose acquisition company (SPAC) transactions.

Key Takeaways

• Don’t underestimate impact considerations – both on the front end in understanding accounting treatment and reporting obligations of the transactions but what may come next from a public company filing perspective

• Understand the process - Seek advice throughout the process as timelines can be very tight and there may be significant determinations, consultations and information that will need to be provided for the transaction to be approved

• Ensure management has the ability to provide audited financial information that may be needed at each juncture of the transaction and post-transaction internal control documentation that will be expected

• Structure the entity for success as public company - Accounting and reporting are just one aspect

Additional Resources:

BDO Knows SPACs Series available on www.bdo.com and listed in the Podcast write up that covers:

• BDO Knows SPACs Part 1: Special Purpose Acquisition Companies as an Express Path to IPO

• BDO Knows SPACs Part 2: Accounting Considerations for SPAC Sponsors

• BDO Knows SPACs Part 3: Accounting Considerations for Target Companies of Special Purpose Acquisition Companies

BDO’s Accounting & Reporting Advisory Services team lead by Mike Stevenson

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