Berkshire Hathaway said it will go into more detailed explanation in its disclosure statement after the Securities and Exchange Commission raised questions about the company's reporting.
The Omaha, Neb.-based company, headed by Warren Buffet, said in a letter to the SEC that after examining questions the division's accounting department raised in April, it would go into more detail to explain how it arrived at its reserve for loss and loss adjustment expense estimate for some of its subsidiaries.
The SEC said Berkshire needed to go into greater detail about how it arrived at its estimates and the factors that could affect changes in the future.
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