SPACs May Bring Accounting Risks: Report

Accounting for SPACs

Like most financial instruments, SPACs present risks and rewards, and require due diligence from accounting firms to help avoid landmines, Accounting Today reports.

There are several issues to consider:

Identifying the accounting acquirer.

Determining the predecessor entity.

Form and content of financial statements of target business.

Target business historical audits.

Pro forma financials for the SEC. Read more.

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