Valuable information can be gleaned about fair value measurement issues from comment letters the Securities and Exchange Commission (SEC) sends after it reviews public companies’ financial statements and disclosures. These letters are sent if the agency has questions or sees problems. PwC has posted its latest version of “SEC Comment Letter Trends” (comment letters publicly issued in the 12 months ended March 31, 2021), and the SEC has begun to issue comments related to COVID-19 disclosures. These comments focus on company-specific disclosures of pandemic-related risk factors and the discussion of known trends and uncertainties, including expectations of the impact on operating results and near- and long-term financial condition. Other topics of interest in the comment letters include business combinations, fair value (valuation techniques and inputs), and goodwill and other intangibles. Examining the issues in the comment letters can help you make sure you have addressed these areas properly in your own engagements.