All SEC articles – Page 73
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Blog
Lesson from Alere enforcement action
The Man From FCPA explores the recent Alere Foreign Corrupt Practices Act enforcement action and the lessons brought forth.
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Blog
Insider trading, GAAP, and Newegg
Title: Insider trading, GAAP, and NewIn case you missed it this week, despite reminders from the SEC, T-Mobile releases non-GAAP data; the CEO of a German stock exchange operator resigns; and Newegg faces charges of co-conspiracy.
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SEC approves new audit report format, CAMs and all
In an investor-friendly decision that deputizes auditors with new duties, the SEC has approved to a new rule expanding the public company audit report.
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SEC tasks audit committees to set tone for accounting changes
Audit committees take note: SEC is putting a lot of faith in you to set the tone for corporate adoption of major changes in accounting requirements.
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Article
Auditors tasked to study revenue readiness at year-end
Auditors are under clear orders from their regulators to show no mercy in their assessment of corporate transition to the new revenue recognition rules.
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PCAOB alerts auditors to scrutinize revenue recognition
The PCAOB is putting auditors on notice to take a careful look at the work companies have done to implement the new revenue recognition standard.
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ArticleFor 2017 close, expect auditors to queue up queries on 2018
In preparing for the year-end close, companies should brace for auditors’ questions about the riskiest reporting areas, especially accounting rules taking effect in 2018.
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Deloitte confirms cyber hack exposed client information
Deloitte says information on a small number of clients was accessible to hackers after an intrusion of the firm's email platform.
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Half say revenue rule is immaterial, one-fifth still evaluating
A PwC analysis shows about half of Fortune 500 companies expect revenue recognition changes to be immaterial, but nearly 20 percent are still evaluating.
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Board members wary of CAM disclosures in audit reports
Half of public company board members say critical audit matters will not make audit reports more useful to investors, but instead will make their jobs more difficult.
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ArticleThe classic post-scandal question to auditors: What happened in the black box?
When investors decry the black box of public company auditing, asking for more visibility, they’re referring to cases like KPMG’s audit work at Wells Fargo.
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FASB proposes updated, new taxonomies for 2018
FASB has completed its annual update to the GAAP taxonomy and has added a new taxonomy for companies to consider addressing international standards.
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Article
FOR: Neither admit nor deny
Allowing firms to enter into consent judgments without having to admit material facts or liability prevents excessive disruption of the regulatory/enforcement framework. Read more from Paul Weiss litigators Brad Karp and Susanna Buergel.
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AGAINST: Neither admit nor deny
Allowing defendants to settle cases without admitting or denying guilt deprives the public of transparency and accountability. The Honorable Judge Jed Rakoff for the United States District Court explores below.
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Article
Good controls are good business
A recent SEC case highlights five key ways in which strict compliance procedures still pay off for brokerage firms when it comes to detecting and preventing fraud.
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Pushback rises on disclosure of auditor, audit committee talks
Despite calls for transparency around the interaction between audit committees and auditors, angst runs deep about giving investors visibility into that dialogue.
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Blog
SEC rescinds historic guidance under new revenue rule
The SEC is telling companies its historic staff guidance on revenue recognition will not trump the new revenue standard when it takes effect in 2018.
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KPMG, partner settle SEC audit failure allegations
The SEC has extracted a $6.2 million settlement from KPMG over charges that the firm and an engagement partner failed to properly audit valuations in 2011.
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SEC opens search for PCAOB members, including chair
New leadership will soon take over the helm of the PCAOB after SEC Chairman Jay Clayton opens a public search for as many as four board positions.