All SEC articles – Page 75
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Greek authorities raid Novartis offices in bribery probe
Novartis is facing a fresh bribery probe, this time in Greece, where authorities there have raided the company’s offices searching for electronic documents and files. Jaclyn Jaeger reports.
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PCAOB’s reorganized auditing standards rule book takes effect
Now that the calendar has turned to 2017, auditors will be following a new nomenclature with respect to citing auditing standards after a reorganization of the rules has taken effect. Tammy Whitehouse reports.
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PCAOB publishes views on conflict with China rules
To address how U.S. audit rules intersect with those in China, the PCAOB has published a four-page Q&A to explain its views on why firms subject to its rules should observe them. Tammy Whitehouse reports.
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General Cable to pay $76M in FCPA case
General Cable today agreed to pay a combined $76 million to resolve parallel investigations with the SEC and Department of Justice related to violations of the Foreign Corrupt Practices Act. The company agreed to pay an additional $6.5 million penalty to the SEC to settle separate accounting-related violations. Jaclyn Jaeger ...
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IOSCO joins call for disclosure on new accounting standards
International regulators, like SEC in the United States, are calling on companies to give plenty of disclosure about transition to new accounting standards.
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Hanson resigns abruptly from PCAOB
Jay Hanson, the lone career auditor among U.S. audit regulators, resigned abruptly from his position at the Public Company Accounting Oversight Board. Tammy Whitehouse has more.
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FASB makes "minor, minor, minor" changes to revenue recognition
FASB has issued the last batch of intended changes to clarify or correct various points raised in the new revenue recognition accounting requirements.
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Study shows effects of whistleblowers on enforcement
The Man From FCPA Tom Fox explores a recent academic study that found a link between information provided by whistleblowers and “heightened enforcement outcomes.”
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SEC approves support fee increase to fund PCAOB budget
The accounting support fee that public companies and broker-dealers pay to support audit regulation will rise in 2017 by about 6 percent, based on the PCAOB’s budget. Tammy Whitehouse has more.
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CAQ nudges audit committees on revenue recognition oversight
Citing an “urgent” need for audit committees to get up to speed on implementation of the new revenue recognition standard, the Center for Audit Quality offers some pointers. Tammy Whitehouse has more.
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Companies fixed prominence most in non-GAAP sweep
To respond to pushback on non-GAAP accounting, most companies made changes to how prominently they displayed such figures, according to a recent analysis. Tammy Whitehouse reports.
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SEC shifts non-GAAP focus to most serious violations
Tension continues over proper use, especially prominence, of non-GAAP accounting measures, but the focus seems to be shifting to the most egregious violations.
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SEC passes on relief for adopting revenue, then accessing capital
Companies adopting the new revenue recognition standard and accessing capital markets soon afterward are getting no clear pass on the extra reporting requirements.
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Audit cost data hint at improvements in internal control
The newest data on audit costs suggest public companies, or at least the largest ones, might be getting a handle on internal control over financial reporting. Tammy Whitehouse reports.
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Comment letters with no response
Nobody likes to get a comment letter from the SEC, but what happens when you don’t respond or comply with one? Mercedes Erickson has the answers.
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PCAOB plans final action on new audit report
Audit regulators are on track to finalize by year-end a long-developing overhaul of the standard audit report. Tammy Whitehouse looks at what that means for auditors in the coming year.
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SEC enforcement trends to watch in 2017
Jaclyn Jaeger recaps a record-breaking year for SEC enforcement activity, and what to expect in the year ahead.
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SEC signals continued intensity around internal controls
As the year-end audit cycle approaches, regulators are signaling that their expectations around internal control over financial reporting are not diminishing. Tammy Whitehouse reports.
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Biggest companies wrapping up revenue recognition studies
Big companies are wrapping up revenue recognition assessments and determining what to disclose to investors at year-end. Tammy Whitehouse has more.
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How did GSK obtain a declination?
If GlaxoSmithKline deserved a declination to prosecute, then the Justice Department needs to provide a better explanation as to why. Tom Fox reports.