1. According to the Financial Executives Research Foundation, enhancing the effectiveness of corporate disclosures is of paramount importance to companies, investors, creditors, regulators and the capital markets at large. This has compelled many companies to take a fresh look at how effectively they tell their story.² Some worry that increased disclosures through different channels can be confusing and lead to disclosure overload. What role should materiality play in determining what kinds of information should be disclosed and how frequently? What are the dangers from an audit perspective of having clients increasingly add to its disclosures, especially when estimates are involved? Did GE do the right thing when it warned of a $3 billion charge only to wind up taking a $6.2 billion charges?