All articles by Tammy Whitehouse – Page 26
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ArticleSean X. McKessy: King of the whistleblowers
Sean McKessy spent several years at the SEC building its whistleblower protection program, putting in place an incentive program for paying whistleblowers, and creating a new way for the SEC to break cases.
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Blog
New revenue rule immaterial? Don't overlook disclosure, SEC says
The SEC is warning companies that say adopting new revenue rules will be immaterial to financials: Be sure that includes consideration of disclosures.
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Article
Survey: Banks not preparing enough for CECL standard
According to a recent survey by RapidRatings and Compliance week, banks are nowhere near ready for FASB’s CECL requirements scheduled to go into effect in 2020.
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Blog
Accounting estimate audit risks get uneven scrutiny, study says
Auditors are scrutinizing the risk of management bias in arriving at accounting estimates, but not so much when it comes to the risk of measurement imprecision.
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Blog
Deloitte offers views on lease accounting questions
Deloitte says it’s hearing enough questions about how to apply the new lease accounting rules it decided to publish a question-and-answer paper to articulate its views.
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ArticleCindy Fornelli: The auditor’s CCO
Cindy Fornelli leads the Center for Audit Quality, acting as chief compliance officer and stressing the importance of truly proactive and strategic compliance efforts for audit, rather than a check-the-box mentality.
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Blog
Senators press PCAOB for answers on KPMG audit of Wells Fargo
U.S. Senators are asking how KPMG could know Wells Fargo had fake accounts on the books, but not flag it as relevant to the financial statement audit.
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Blog
With attest tool to come, AICPA issues cyber reporting framework
The accounting profession is getting some new tools to deploy in their growing involvement with addressing cyber-risk.
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Blog
Cyber-incident report points out trends for companies to beware
A new report on cyber-security trends gives companies a way to benchmark their cyber-risks against thousands of incidents and breaches globally.
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Blog
BDO 2015 report shows more restatements, withdrawn opinions
Roughly half the audits inspected at BDO USA contained deficiencies in 2015, several serious enough to result in restatements and withdrawn ICFR opinions.
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Article
Internal auditors show signs of taking up data analytics
Internal audit shops are buzzing over data analytics, with more audit leaders planning to adopt or expand their use across the scope of their audit work.
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Blog
Restatement study will show second year of decline in 2016
Restatements in 2016 experienced a drop of 11 percent one year after dropping 12 percent and following a stubborn leveling off from 2008 to 2014, showing another year of incremental improvement in financial reporting.
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Blog
CAQ, others issue update to auditor assessment tool
Audit committees have an updated tool available for use to help them assess their external auditors, courtesy of a collaborative group of advocates for audit quality.
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Article
Latest internal audit studies suggest path forward for leaders
The latest crop of internal audit studies reveal some promising insights into the trajectory of the profession and strategies to undertake on the path forward.
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Blog
Top accountant provides blueprint for effective audit committees
From education to composition, the SEC's top accountant recently gave audit committees a primer on everything it takes to be effective in the job these days.
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Blog
Is KPMG getting tainted audit inspection results?
The inspection information leak that led to dismissals at KPMG and the PCAOB raises big questions about how to assure fair and transparent inspection results for all Big 4 firms.
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KPMG, PCAOB dismiss personnel over inspection leak
Heads are rolling at both KPMG and the PCAOB over an information leak that gave KPMG auditors a leg up heading into its annual regulatory inspections.
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Blog
Investors demand more ESG disclosure, new study says
Investor interest is growing in getting expanded information out of companies about their environmental, social, and governance issues, based on a recent global study.
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Blog
Regulators globally say 42 percent of audits are deficient
Audit quality is an even bigger concern outside the United States, where inspectors spot deficiencies at major network firms in 42 percent of the audits they check.
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Blog
Pension sponsors pay unnecessary premiums, study finds
Companies sponsoring defined benefit pension plans have seen their PBGC premiums skyrocket in recent years — in some cases needlessly.