Kral Ussery LLC, Certified Public Accountants
TX Office: (817) 416-6842
NV Office: (702) 565-2727

News & Articles

AI in M&A: Navigating the opportunities and risks

Wednesday, October 30, 2024
  AI is poised to transform M&A, speed up the deal process and save billions of dollars

Read the rest of this page »


 

CFO competence ranked as a top factor in investor decisions

Wednesday, October 23, 2024
  Investors are willing to increase their initial investment in an organization by an average of 2.6% when the CFO is the key strategic growth driver

Read the rest of this page »


 

Most accountants see ethical challenges increasing: ACCA

Tuesday, October 15, 2024
  Two-out-of five accountants said they most frequently face ethical challenges at work because of weaknesses in company leadership and culture

Read the rest of this page »


 

SEC charges 12 companies with flawed record-keeping, imposes $88M in fines

Wednesday, September 25, 2024
  SEC Chair Gary Gensler, during a congressional hearing Tuesday, came under fire from Republicans asserting that he should use regulation more than enforcement to correct company record-keeping

Read the rest of this page »


 

Controllers prep for 'dramatic' role changes, focus on value creation: EY

Wednesday, September 25, 2024
  While controllers recognize that change is coming, and coming quickly, they don’t necessarily have a view on what that will look like

Read the rest of this page »


 

Finance function needs five-year vision, says ACCA

Tuesday, September 24, 2024
  Only 29% of companies have a fully established view of what the function will look like approaching 2030

Read the rest of this page »


 

SEC charges leaders of failed online pharmacy in $170M fraud case

Friday, September 13, 2024
  EC Chair Gary Gensler has stepped up enforcement since 2021, targeting investor fraud, cyber-related misconduct and misleading financial reporting

Read the rest of this page »


 

CFOs' AI adoption gains momentum: Gartner

Wednesday, September 11, 2024
  Sixty-six percent of finance leaders are more optimistic about the technology compared to last year

Read the rest of this page »


 

SEC Issues Awards Totaling $98 Million to Two Whistleblowers

Friday, August 23, 2024
  Whistleblower information and cooperation play an integral role in the SEC’s enforcement efforts

Read the rest of this page »


 

SEC approves tougher rules targeting auditor 'negligence'

Wednesday, August 21, 2024
  Two out of the agency’s five commissioners voted against the stricter standards, warning that they may hinder efforts to expand the ranks of auditors

Read the rest of this page »


 

PCAOB says deficiencies rise among reports by audit firms

Friday, August 16, 2024
  Inspections of nearly half of the firms’ engagements reviewed by the PCAOB revealed evidence that the auditor failed to obtain enough evidence to support its opinion

Read the rest of this page »


 

Many companies clueless about payment fraud, report claims

Monday, August 12, 2024
  Half of surveyed organizations don’t know how often they’re hit by fraudulent payment schemes or what the cost is

Read the rest of this page »


 

Judge deals major blow to SEC's cybersecurity enforcement stance

Tuesday, July 23, 2024
  The decision substantially limits the SEC's authority to challenge a company’s cybersecurity program

Read the rest of this page »


 

4 tips for combating CFO deepfakes

Monday, July 8, 2024
  CFOs should be cautious about posting personal material on social accounts, as such information can be used to build deepfake

Read the rest of this page »


 

FASB sets compliance clock for new expense disclosure rules

Wednesday, June 26, 2024
  Compiling data to comply will take “quite a bit of company resources,” said Nicole Wright, an associate professor of accounting at James Madison University

Read the rest of this page »


 

40% of executives brace for "major" reorganization, including layoffs: PwC

Wednesday, June 12, 2024
  Companies are reorganizing to fight margin pressure and planning moves that might require wide-ranging operating model changes

Read the rest of this page »


 

Cyberattacks pose mounting risks to creditworthiness: Moody's

Wednesday, June 5, 2024
  As more data becomes available, thanks to recently adopted disclosure requirements, attacks continue to proliferate

Read the rest of this page »


 

'Worst' yet to come for commercial real estate: Conference Board

Wednesday, May 29, 2024
  Many banks have pursued a policy of “extend and pretend” to avoid writing off troubled commercial real estate loan

Read the rest of this page »


 

72% of CFOs say healthcare costs the most unpredictable expense: Report

Wednesday, May 8, 2024
  Over two-thirds of finance chiefs say the cost of health benefits is a significant concern

Read the rest of this page »


 

Interim CFO requests skyrocket 46%: BTG

Tuesday, April 9, 2024
  Companies are turning to interim financial leadership more frequently as they struggle to fill widening gaps in their accounting and finance functions

Read the rest of this page »


 

Nation-state actors drive up cyberthreats

Tuesday, April 9, 2024
  Microsoft and Hewlett Packard Enterprise are among companies that have recently reported high-profile cyber intrusions attributed to nation-state actors

Read the rest of this page »


 

Companies fall short on curbing cybersecurity risks from vendors: Moodys

Monday, April 8, 2024
  Cyber risks are mounting, with artificial intelligence likely to increase the threat of attack in the short to medium term

Read the rest of this page »


 

Tupperware flags accounting strains in late 10-K notice

Monday, April 1, 2024
  The late notice comes roughly five months after Tupperware said its former independent auditor PricewaterhouseCoopers declined to be re-appointed

Read the rest of this page »


 

Audit committees rank cybersecurity as top priority amid SEC crackdown

Thursday, March 14, 2024
  Cyberattacks are just one of several rapidly changing threats confronting audit committees, according to the Center for Audit Quality and Deloitte

Read the rest of this page »


 

SEC drops scope 3 from final climate rule

Wednesday, March 6, 2024
  Removed due to a large number of comments concerning compliance costs, as well as the consistency and reliability of scope 3 data

Read the rest of this page »


 

M&A to rise, buoyed by ready cash, solid profits, stable economy: McKinsey

Tuesday, February 20, 2024
  CFOs will sooner reach strategic goals through deal-making than through organic growth

Read the rest of this page »


 

Lyft shares rise 35% after earnings report typo sparks confusion

Wednesday, February 14, 2024
  An “extra zero” added to a press release sent Lyft stock soaring

Read the rest of this page »


 

AI, fake CFOs drive soaring corporate payment-fraud attacks

Tuesday, January 23, 2024
  Generative AI tools like ChatGPT are making it easier for scammers to create bogus texts and emails as well as deep-fake voices at scale

Read the rest of this page »


 

Audit committees in 2024 face rising tax, AI, regulatory challenges: EY

Thursday, January 18, 2024
  A barrage of business risks may intensify this year, and audit committees need to help C-suite executives limit potential losses and seize opportunities

Read the rest of this page »


 

Independence Matters

Wednesday, January 17, 2024
  Avoiding Pitfalls for the Unwary

Read the rest of this page »


 

Companies Must Prepare Now to Get Ahead of the SECs New Cybersecurity Rules

Monday, January 8, 2024
  The impact of these rules goes beyond compliance and will affect both public and private companies alike

Read the rest of this page »


 

FASB pushes crypto, tax rules over finish line

Friday, December 15, 2023
  The U.S. standard setter has issued nine new accounting standards updates so far this year, compared to six in all of 2022

Read the rest of this page »


 

Nearly Half of M&A Deals Wind Up in Accounting Disputes

Wednesday, December 13, 2023
  Last year saw a significant amount of disputes around earn-out agreements and working capital adjustments during M&A transactions, according to new research

Read the rest of this page »


 

Cybersecurity pressures stretch CFOs

Tuesday, December 12, 2023
  CFOs are bracing for new SEC cybersecurity rules set to kick in this month as the regulator is already signaling an aggressive enforcement posture

Read the rest of this page »


 

Auditors say accountant shortage ramps up work pressure: CAQ

Wednesday, December 6, 2023
  A decline in the pool for accounting talent has prompted many U.S. companies to raise pay and provide greater workplace flexibility

Read the rest of this page »


 

FASBs new segment guidance will go swiftly into effect

Tuesday, November 28, 2023
  Public companies will be required to comply with the new accounting requirements in reports for annual periods beginning on Dec. 15

Read the rest of this page »


 

Escalating SaaS prices outpace CPI inflation

Tuesday, November 14, 2023
  Software-as-a-service spending now accounts for 14.1% of a typical company’s expense line, up from 12.7% last year, according to research from Vertice

Read the rest of this page »


 

Gensler says SEC aims to avoid overreach on climate risk rule

Thursday, October 26, 2023
  The SEC chief has come under fire for proposing that companies release data on the greenhouse gas emissions by their suppliers and customers

Read the rest of this page »


 

SEC cyber rules send execs scrambling as deadlines near

Tuesday, October 10, 2023
  Companies face the thorny challenge of determining what constitutes a “material” cyber breach for reporting purposes

Read the rest of this page »


 

PCAOB chief slams auditors for 40% error rate

Thursday, October 5, 2023
  The federal overseer of audit firms last year doubled the number of enforcement orders compared with 2021 and imposed record penalties

Read the rest of this page »


 

A Fistful of Fraud: The SEC Closes Out FY 2023 With 20 Lawsuits

Tuesday, October 3, 2023
  Among the SEC’s flurry of lawsuit announcements last week were five accounting and disclosure cases against non-financial businesses and executives

Read the rest of this page »


 

US IPOs rise 20% YTD yet lag 2021 pace

Monday, October 2, 2023
  IPO investors worldwide have become especially selective as central banks push up interest rates, raising the cost of capital, EY said

Read the rest of this page »


 

SEC fines Monolith for violating whistleblower safeguards

Monday, September 11, 2023
  Privately held companies, like their publicly traded counterparts, must uphold SEC-mandated protections for whistleblowers, the agency said

Read the rest of this page »


 

SEC cyber rules go into effect, raising stakes for CFOs

Tuesday, September 5, 2023
  Armed with its new rules that expand on prior guidance, the regulator could be poised to double down on aggressive cybersecurity enforcement

Read the rest of this page »


 

Flawed accounting surges 150%: Glass Lewis

Wednesday, August 30, 2023
  Company reports during the 2023 proxy season reveal that many newer businesses have had to correct financial statements and upgrade internal controls

Read the rest of this page »


 

FASBs complex loss accounting change warrants extra time, insurer group says

Tuesday, August 8, 2023
  CECL grew out of a FASB effort to encourage timelier reporting of deteriorated assets after the 2008 financial crisis

Read the rest of this page »


 

SEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies

Wednesday, July 26, 2023
  Requires disclosure of material cybersecurity incidents

Read the rest of this page »


 

PCAOB Inspections Find 40% of Audits With Deficiencies

Wednesday, July 26, 2023
  The percentage of major deficiencies found in 2022 inspections of audit firms were up from 34% in 2021

Read the rest of this page »


 

PCAOB Launches New Online Tools to Help Users Find and Compare Inspection Report Data

Wednesday, July 19, 2023
  Visitors to the PCAOB website can now easily filter over 3,700 inspection reports by deficiency rate and more

Read the rest of this page »


 

CFOs warm to outsourcing

Monday, July 17, 2023
  Hiring outside firms to fill more specialized roles can help reduce responsibilities while also cutting costs

Read the rest of this page »


 

M&A plunges 37% during first half of 2023

Thursday, July 6, 2023
  A perfect storm of higher inflation, interest rates, capital costs and greater regulatory scrutiny

Read the rest of this page »


 

SEC puts SolarWinds CFO on notice in cyberattack probe

Monday, June 26, 2023
  The news underscores the growing potential legal exposure that CFOs have as they are increasingly expected to take on broader remits of responsibilities

Read the rest of this page »


 

Cybercriminals target high-profit companies: AEI

Monday, June 12, 2023
  Many companies disregard Securities and Exchange Commission rules and fail to report cyberattacks, the researchers said

Read the rest of this page »


 

PCAOB aims to sharpen auditor focus on fraud

Wednesday, June 7, 2023
  Auditors would need to more carefully evaluate whether noncompliance had occurred, and the possible impact on financial statements

Read the rest of this page »


 

CFOs should lead adoption of generative AI: Gartner

Thursday, June 1, 2023
  A CFO is more familiar than IT staff with a company’s sources of revenue, its biggest costs and its most promising opportunities

Read the rest of this page »


 

Burying bad 8-K news raises red flags

Wednesday, May 10, 2023
  The negative 8-Ks were also more likely to be made public on Fridays or after-hours, typically times when there are fewer investors eyeing the information

Read the rest of this page »


 

Data Quality and Information Flow

Thursday, April 20, 2023
  Leveraging Principle 13 of COSO’s Internal Control—Integrated Framework

Read the rest of this page »


 

Demystifying Data Quality

Thursday, April 20, 2023
  Three myths in realizing data quality

Read the rest of this page »


 

FASB chooses single software accounting model

Wednesday, April 5, 2023
  Continuing to have two models would perpetuate misunderstanding

Read the rest of this page »


 

Interim CFO Demand Up 103% Year-Over-Year: Weekly Stat

Wednesday, April 5, 2023
  As turnover continues to be a problem for organizations, the demand for a quick replacement is skyrocketing

Read the rest of this page »


 

Startups see SOX internal control issues after going public

Tuesday, March 28, 2023
  Issues include lack of adequate resources as companies confront issues such as improper segregation of duties within the operation of internal controls

Read the rest of this page »


 

Accountant shortages likely to yield more audit failures

Monday, March 20, 2023
  The shortage of workers with the core accounting skills needed to staff audits is making audit failures more likely

Read the rest of this page »


 

Preparing for an IPO in 2023: What to Know

Monday, March 13, 2023
  Finance leaders looking to go public have options if they take the right approach

Read the rest of this page »


 

What the SEC wants now in ESG

Friday, March 10, 2023
  What the SEC wants now in ESG

Read the rest of this page »


 

Standard-setters consider softer start to climate risk disclosure

Friday, February 24, 2023
  A backlash against proposals to require detailed corporate reporting on climate risk may compel more gradual application of the rules

Read the rest of this page »


 

FASB votes to finalize lease accounting relief

Wednesday, February 15, 2023
  The changes center on leases between entities under common control

Read the rest of this page »


 

Audit committee job creep taking its toll

Friday, February 3, 2023
  With audit committees biting off more than they can chew, committee members across businesses are feeling the burnout

Read the rest of this page »


 

78% of CFOs Say Quiet Quitting is a Problem: Weekly Stat

Wednesday, February 1, 2023
  Strategies around talent recruitment and retainment are a principal focus for CFOs

Read the rest of this page »


 

SEC aims to set climate risk, cybersecurity rules before May

Tuesday, January 17, 2023
  SEC’s aim is to provide investors with enough information for determining the range and degree of risks to business operations

Read the rest of this page »


 

'Scope creep' challenging audit committees: CAQ

Friday, January 13, 2023
  Some audit committees may find themselves unable to handle a wider range of responsibilities

Read the rest of this page »


 

70% of Financial Institutions Lost Over $500K to Fraud in 2022: Weekly Stat

Wednesday, January 11, 2023
  Rapid digitization and an influx of cash from pandemic relief scams have created the perfect conditions for fraudsters to thrive

Read the rest of this page »


 

FASB decides to require expense disclosures

Wednesday, January 11, 2023
  Will require companies to break out expenses for employee compensation, depreciation, intangible asset amortization and inventory in the notes to their financial statements

Read the rest of this page »


 

Audit partners see economic challenges in 2023 as new risks emerge, CAQ survey shows

Monday, January 9, 2023
  Survey found that 57% of audit partners are either pessimistic or very pessimistic about the prospects for the U.S. economy

Read the rest of this page »


 

SEC calls for disclosure on crypto risks, citing 'financial distress'

Friday, December 9, 2022
  The FTX bankruptcy has jarred scores of creditors

Read the rest of this page »


 

PCAOB warns of uptick in auditing flaws

Thursday, December 8, 2022
  U.S. watchdog’s staff expecting 33% of the reviewed audits to have at least one serious deficiency

Read the rest of this page »


 

CFOs must invest in digital skills to get ahead of technology hype: Gartner

Wednesday, November 30, 2022
  Investing in digital skills can help financial leaders prepare for the ‘autonomous finance’ future in which employees will routinely collaborate with machines

Read the rest of this page »


 

Nearly half of CFOs admit to flawed ESG reporting: EY

Friday, November 11, 2022
  Securing trust and a reputation for long-term focus must ensure that sustainability is built into their reporting processes

Read the rest of this page »


 

SECs Munter warns of potential decline in accounting professionalism

Thursday, November 3, 2022
  Recent signs of a decline in the level of “professionalism” among employees at some of the largest accounting firms

Read the rest of this page »


 

SEC adopts bonus clawback rules

Wednesday, October 26, 2022
  Will require publicly-listed companies to recover “erroneously” awarded incentive-based pay received by current or former executive officers during the three-year period preceding an accounting restatement

Read the rest of this page »


 

ESG backlash unlikely to derail SEC climate risk rule

Monday, October 17, 2022
  SEC Chair Gary Gensler faces growing resistance to the agency’s proposal that companies provide detailed disclosures on carbon emissions

Read the rest of this page »


 

FASB votes for fair-value crypto fix

Thursday, October 13, 2022
  Many stakeholders have been critical of the current accounting practice

Read the rest of this page »


 

Watch for these common invoice scams

Monday, October 10, 2022
  Mid-sized businesses are losing almost $300,000 annually to invoice fraud

Read the rest of this page »


 

FASB Seeks Input on Proposal to Improve Segment Reporting

Thursday, October 6, 2022
  Would expand segment disclosures reported in interim periods, and require disclosures for single-segment entities

Read the rest of this page »


 

SEC says Oracle bribed officials, imposes $23M penalty

Tuesday, September 27, 2022
  This matter highlights the critical need for effective internal accounting controls

Read the rest of this page »


 

SEC advisory committee recommends revamp of FASB

Friday, September 23, 2022
  Concerns that accounting standard-setting has not kept pace with the evolution of the sources of value and risk

Read the rest of this page »


 

Companies mull benefits of interim CFOs

Thursday, September 22, 2022
  Interim CFOs can cut through politics to help navigate companies through murky waters

Read the rest of this page »


 

SEC presses for economic risk disclosures

Tuesday, September 20, 2022
  The shifting outlook for the economy is continually introducing new risks that companies should disclose in financial reports

Read the rest of this page »


 

FASB mulls lease accounting standard change as it moves HQ

Monday, September 19, 2022
  Related party arrangement may not be at arms-length resulting in no legally enforceable terms and conditions

Read the rest of this page »


 

PCAOB finds audit flaws on fraud risk, SPACs

Friday, September 2, 2022
  Restatements surged to 1,470 in 2021, a 289% increase over the prior year

Read the rest of this page »


 

FASB narrows digital asset project to focus on crypto

Wednesday, August 31, 2022
  The board will be able to leverage Topic 350 in its crafting of the digital asset guidance

Read the rest of this page »


 

SEC boosts incentives for whistleblowers

Monday, August 29, 2022
  The SEC awarded a total of $564 million to 108 individuals last year compared with $60 million to eight individuals in 2019

Read the rest of this page »


 

SEC Issues First Fee Rate Advisory for Fiscal Year 2023

Friday, August 26, 2022
  The SEC will increase from $92.70 per million dollars to $110.20 per million dollars, effective Oct. 1

Read the rest of this page »


 

SEC adopts pay-versus-performance disclosure rules

Friday, August 26, 2022
  The financial performance measures include companies’ total shareholder return (TSR), TSR for the companies’ peer group, and net income

Read the rest of this page »


 

M&A sparked by ESG surges 111% in H1 2022

Wednesday, August 24, 2022
  Intensifying debates over the benefits and costs of ESG will likely encourage the emergence of ESG-focused companies in coming months

Read the rest of this page »


 

PCAOB drafts 5-year strategic plan

Tuesday, August 16, 2022
  Goal of stabilizing the PCAOB after years of turbulence

Read the rest of this page »


 

Marijuana MSO Parallel faces financial hurdles after $1.9B SPAC deal collapses

Monday, August 8, 2022
  Now, Wrigley, Atlanta-based Parallel and some of its top executives face litigation

Read the rest of this page »


 

Bitcoin, Ether To Be Regulated as Commodities by CFTC, per New Senate Bill

Wednesday, August 3, 2022
  The SEC, which is roughly six times the size of the CFTC, will still control some aspects of crypto governance under the new bill, but its reach would be shortened

Read the rest of this page »


 

SEC chair calls for stronger audit rules on SOX anniversary

Wednesday, July 27, 2022
  One standard that he would like to see change is the PCAOB’s auditor independence rules

Read the rest of this page »


 

Rethinking the Value of 3 Common Financial Metrics

Wednesday, July 13, 2022
  Most companies use too many incomplete measures and would benefit from using one complete measure instead

Read the rest of this page »


 

M&A falls 21% during first half 2022 amid global turmoil: Refinitiv

Thursday, July 7, 2022
  Deal-makers stepped back to assess disruptions

Read the rest of this page »


 

FASB preps to revamp outdated accounting for software

Thursday, June 23, 2022
  Calling for a refresh of existing rules on how software should be treated in financial reports

Read the rest of this page »


 

FASB to explore rules on accounting for ESG credits

Friday, May 27, 2022
  FASB decided that the preliminary scope of the project is environmental credits that are legally enforceable and can be traded

Read the rest of this page »


 

BDO restructures assurance practice

Tuesday, May 17, 2022
  A new Audit Quality Advisory Council will give the firm input on its quality management system

Read the rest of this page »


 

KPMG urges audit committees to be more active in cybersecurity

Friday, May 13, 2022
  Board members need to focus on cybersecurity threats and risk assessments when talking to management

Read the rest of this page »


 

SEC fines NVIDIA $5.5M for failing to disclose cryptomining impact

Wednesday, May 11, 2022
  SEC Chair Gary Gensler has repeatedly warned about weak investor protections in the crypto market

Read the rest of this page »


 

Most executives admit to ESG greenwashing: survey

Wednesday, April 27, 2022
  CFOs face mounting pressure from investors, regulators, lawmakers and other stakeholders to adopt ESG best practices

Read the rest of this page »


 

Cybersecurity incidents soar at public companies

Wednesday, April 6, 2022
  Reported breaches reaching levels not seen since 2011

Read the rest of this page »


 

Cyber extortion surges 78 percent on spread of ransomware-as-a-service

Monday, March 28, 2022
  The average ransomware payment to cybercriminals surged last year to $541,010

Read the rest of this page »


 

Item 9 CFO relishes fight to normalize cannabis industry

Thursday, March 24, 2022
  Locking down financing and even accessing basic financial services challenging

Read the rest of this page »


 

SEC proposes climate-related disclosures by companies

Monday, March 21, 2022
  Would include disclosure of their greenhouse gas emissions, which have become a commonly used metric

Read the rest of this page »


 

Buybacks soar as companies eye Ukraine, other volatility sources

Tuesday, March 15, 2022
  CFOs in the S&P 500 are sitting on almost $3 trillion in cash

Read the rest of this page »


 

COSO guidance urges more agility in risk management, auditing

Wednesday, March 9, 2022
  Offers examples of how the internal audit function can be more flexible and adaptable with risk management

Read the rest of this page »


 

SEC pushes for tougher cybersecurity disclosure rules

Wednesday, March 9, 2022
  Companies would need to report breaches within four days

Read the rest of this page »


 

SPACs and IPOs pose challenges for SOX compliance

Tuesday, February 22, 2022
  Companies have to take steps to fix material weaknesses

Read the rest of this page »


 

Ransomware attacks, extortion doubled in 2021: Accenture

Thursday, February 17, 2022
  Top targets of ransomware attacks were manufacturing, financial services, healthcare, technology and construction companies

Read the rest of this page »


 

Gensler aims to boost SEC incentives for whistleblowers

Monday, February 14, 2022
  Would eliminate the SEC’s authority to consider reducing a potential reward while allowing consideration of an increase

Read the rest of this page »


 

CFOs, accountants vexed by surging operating costs

Thursday, January 20, 2022
  Concerns on operating cost more than doubled over the course of last year and seem likely to stay elevated in early 2022

Read the rest of this page »


 

Bad use of FP&A costs U.S. companies $7.8B a year

Thursday, January 13, 2022
  Losses stem from innovation that doesn’t happen and the hours analysts spend using inefficient data processes, a research collaboration between the University of Baltimore and DataRails finds

Read the rest of this page »


 

17 states back court challenge to Nasdaq board diversity rule

Tuesday, January 4, 2022
  CFOs face pressure from the SEC to increase transparency and better measure performance on ESG issues

Read the rest of this page »


 

M&A boom will surge into 2022: KPMG

Monday, December 13, 2021
  M&A has soared in 2021 as the economy recovered from a pandemic shock, record monetary and fiscal stimulus

Read the rest of this page »


 

SEC to give SPRING-LOADED stock awards close scrutiny, memo suggests

Wednesday, December 1, 2021
  The issue is less about timing and more about valuation

Read the rest of this page »


 

697 companies hit with SEC violations in FY 21

Wednesday, November 24, 2021
  As a result of the actions, companies paid just under $2.4 billion in disgorgement and a record $1.4 billion in penalties

Read the rest of this page »


 

Management's Annual Report on Internal Control Over Financial Reporting

Tuesday, November 16, 2021
  Public company reminders and lessons

Read the rest of this page »


 

Ransomware criminals targeting confidential M&A data, FBI warns

Friday, November 5, 2021
  Cyber criminals often use Trojan malware to research nonpublic information

Read the rest of this page »


 

SEC OKs PCAOB rule on foreign audit inspections

Friday, November 5, 2021
  The PCAOB adopted the new rule after years of frustration over its inability to inspect auditing firms in China that audit companies whose shares trade on the U.S.

Read the rest of this page »


 

SEC chief accountant calls for safeguards for independent audits

Wednesday, October 27, 2021
  SEC Chair Gary Gensler is shaking up oversight of auditors

Read the rest of this page »


 

More lawsuits a likely result of SEC shift on no-admit, no-deny settlements

Tuesday, October 19, 2021
  By requiring more companies and officers to admit guilt to settle charges, the SEC is courting confrontation

Read the rest of this page »


 

SEC dusts off 2015 rule requiring clawbacks for financial restatements

Friday, October 15, 2021
  If it takes effect, executives would have to give back bonuses and other forms of equity-based compensation that was tied to numbers reported in error

Read the rest of this page »


 

Boards facing regulatory scrutiny intensify focus on ESG

Friday, October 15, 2021
  Board members now report that ESG is the No. 1 topic investors most want to discuss

Read the rest of this page »


 

Investment narrative should be high on CFO to-do list as company goes public

Thursday, October 14, 2021
  Sophisticated investors won't wait around for a newly public company to build the communication discipline

Read the rest of this page »


 

A Glut of High-Growth Companies Is Driving An IPO Market Reset

Wednesday, October 13, 2021
  The question of going public has turned from "if?" to "when?" to "how soon?" with no signs of slowing

Read the rest of this page »


 

IPOs, mergers surge as dealmakers ride post-lockdown rebound

Thursday, September 30, 2021
  Global mergers and acquisitions hit a new record during the first nine months of the year

Read the rest of this page »


 

FASB OKs flexible discount-rate options under new lease accounting standards

Thursday, September 16, 2021
  The change permits private companies and nonprofits to save money by using different calculations for different asset classes

Read the rest of this page »


 

With new cybersecurity enforcement, the SEC puts its money where its mouth is

Wednesday, September 8, 2021
  The current reporting standard for publicly traded companies is whether the incident has a “material effect” on the company’s finances, operations, or liquidity

Read the rest of this page »


 

SEC panel weighs stricter SPAC disclosures, citing conflicts of interest

Friday, August 27, 2021
  SPACs by their very nature are rife with conflicts of interest according to the panel

Read the rest of this page »


 

Accounting firms accelerate ESG services as climate risks increase

Wednesday, August 25, 2021
  Accountants are increasingly being asked to vet disclosures, while some firms have already started offering ESG assurance services

Read the rest of this page »


 

Revenue, lease accounting still challenge private companies

Thursday, August 19, 2021
  When the pandemic hit in March 2020 and the FASB deferral occurred a few months later

Read the rest of this page »


 

Almost 90% of SPACs have had to restate financials

Monday, August 2, 2021
  Accounting for warrants is the main driver of the restatements

Read the rest of this page »


 

SEC may require climate risk disclosures in expanded 10-Ks: Gensler

Wednesday, July 28, 2021
  May be required in an expanded Form 10-K

Read the rest of this page »


 

Retailer, former CEO charged with accounting failures

Thursday, July 22, 2021
  Knowingly used an inventory tracking system that did not support the company’s disclosed inventory accounting methodology

Read the rest of this page »


 

Companies reexamine their lease accounting due to COVID

Wednesday, July 21, 2021
  Companies have been rethinking their real estate strategy

Read the rest of this page »


 

SPAC deals will rebound for remainder of 2021: EY

Monday, July 19, 2021
  The lull caused by the SEC guidance is behind us and deals are being announced daily

Read the rest of this page »


 

FASB appears ready to require supplier financing disclosure

Thursday, July 1, 2021
  Trade payable arrangements typically aren’t publicly reported even though they pose a liquidity risk

Read the rest of this page »


 

Working Capital Scorecard- Inventories, Receivables Need Attention

Friday, June 18, 2021
  CFOs will be focusing on buying patterns, distribution channels, and payment terms

Read the rest of this page »


 

What is behind the SECs SPAC warrant concerns

Monday, June 14, 2021
  In many deals, the warrants are misclassified as equity

Read the rest of this page »


 

Auditors focusing more on ESG risks

Wednesday, June 2, 2021
  More organizations are facing pressure from environmental groups, activist shareholders and asset managers

Read the rest of this page »


 

AI will yield biggest return in CFO spending during coming decade

Wednesday, May 26, 2021
  You have about two to three years to get investing in AI or forever be left behind

Read the rest of this page »


 

Two More SPACs to Restate Financial Results

Friday, May 14, 2021
  The restatements follow new SEC guidance on how SPACs should account for warrants

Read the rest of this page »


 

Changing Audit Firms: 7 Steps to Streamline Your Auditor Transition

Wednesday, May 12, 2021
  Don't Just Stop at Due Diligence

Read the rest of this page »


 

CAQ offers advice on auditing SPACs

Monday, May 3, 2021
  The alert offers some considerations that both auditors and audit committee members should bear in mind

Read the rest of this page »


 

Enforcement levels stayed high at SEC in 2020, but dropped at PCAOB

Tuesday, April 27, 2021
  PCAOB actions never returned to pre-pandemic levels

Read the rest of this page »


 

SEC Could Reclassify SPAC Warrants And Hold Up New Filings: Report

Tuesday, April 13, 2021
  Warrants could soon be considered liabilities instead of equity

Read the rest of this page »


 

CFOs step up to face their new enemy: Poor data

Tuesday, April 13, 2021
  Data quality is now one of the biggest threats to reputation, say finance leaders

Read the rest of this page »


 

Former NYSE CFO: SPACs are here to stay

Tuesday, April 13, 2021
  The economy is on the verge of SPAC 2.0

Read the rest of this page »


 

Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (SPACs)

Monday, April 12, 2021
  Accounting and registrant filing considerations

Read the rest of this page »


 

Most companies will likely link executive pay to environmental targets: ING survey

Wednesday, April 7, 2021
  Regulators and investors have intensified scrutiny of corporate policy toward ESG issues

Read the rest of this page »


 

Private company CFOs excited about, but wary of, SPACs

Wednesday, March 31, 2021
  The pandemic has also prompted CFOs to reprioritize technology investment

Read the rest of this page »


 

PCAOB Approves Formation of New Standards Advisory Group to Further Enhance Stakeholder Engagement and Provide Advice

Monday, March 29, 2021
  Provides new opportunities for investors and other stakeholders to advise the Board

Read the rest of this page »


 

SEC official: Companies avoiding ESG disclosures risk higher costs of capital

Saturday, March 13, 2021
  Disclosing some ESG-related issues may eventually prove as important for companies as reporting about asbestos-related risks, a top SEC official said

Read the rest of this page »


 

CFOs optimistic about revenue growth, plan big investments, survey finds

Sunday, February 28, 2021
  Despite the pandemic, 80% of CFOs in the U.S. and U.K. hold a favorable view of the economic outlook

Read the rest of this page »


 

Making pandemic-related EBITDA adjustments

Thursday, February 25, 2021
  Annualized earnings, 2021 EBITDA and swap outs are three approaches CFOs are taking

Read the rest of this page »


 

SPACs vs. Traditional IPOs

Monday, February 22, 2021
  Here are the positives and negatives of the SPAC market

Read the rest of this page »


 

CFOs Want FP&A to Marshal Value Creation

Thursday, February 18, 2021
  Spend less time explaining the numbers and more time working with the business to manage them

Read the rest of this page »


 

SPACs may bring accounting risks

Tuesday, February 16, 2021
  Require due diligence from accounting firms to help avoid landmines

Read the rest of this page »


 

The unbalanced balance sheet: Making intangibles count

Thursday, February 11, 2021
  Since 2009, the implied market value of intangible assets at S&P 500 companies increased 255%

Read the rest of this page »


 

Biden to Name Gary Gensler as SEC Chairman

Wednesday, January 13, 2021
  Appointment is expected to put an end to the four years of rule-easing

Read the rest of this page »


 

Cybersecurity Insurance Has a Big Problem

Monday, January 11, 2021
  There are worrisome trends in cybersecurity

Read the rest of this page »


 

The SEC fires a warning shot about COVID-19 disclosures

Tuesday, December 22, 2020
  Public companies must accurately disclose the current and anticipated material impacts of COVID-19

Read the rest of this page »


 

PCAOB to shake up inspections in 2021

Tuesday, December 8, 2020
  The effects of the ongoing pandemic are going to be a focus for PCAOB inspections

Read the rest of this page »


 

Internal control focus critical as a result of pandemic changes

Monday, December 7, 2020
  The pandemic has led to significant changes in day-to-day operations, working environments, and internal controls.

Read the rest of this page »


 

M&A Trend Watch: How the Current Landscape Has Changed

Thursday, December 3, 2020
  April marked the first time since 2004 that no deal larger than $1 billion was announced

Read the rest of this page »


 

Former Kodak Execs Sold $5.1M in Stock Options They Did Not Own

Thursday, November 12, 2020
  The previously forfeited stock options were exercised by the former executives in July when the company’s stock jumped

Read the rest of this page »


 

PCAOB guides audit committees on estimates, specialists

Thursday, November 12, 2020
  The new resource includes the basics of the new requirements and key takeaways for audit committees

Read the rest of this page »


 

SEC awards record $114M to whistleblower

Tuesday, October 27, 2020
  The SEC has awarded approximately $676 million to 108 individuals since issuing its first award in 2012

Read the rest of this page »


 

FASB proposes 3 targeted lease accounting changes

Tuesday, October 20, 2020
  Would address areas brought to FASB’s attention by public company stakeholders from their experiences applying the leases standard

Read the rest of this page »


 

SEC aims to reduce unnecessary auditor independence red flags

Friday, October 16, 2020
  Several amendments to Rule 2-01 of Regulation S-X

Read the rest of this page »


 

Accounting for Loss Contingencies, Hindsight is 20/20

Wednesday, September 30, 2020
  Mitigating the Risks of Material Weaknesses and Restatements

Read the rest of this page »


 

SEC Drops Proposed Whistleblower Award Rule

Thursday, September 24, 2020
  The commission recognized the importance of paying awards to whistleblowers and the invaluable contributions whistleblowers make to protecting investors

Read the rest of this page »


 

Big Four firms release ESG reporting metrics with World Economic Forum

Wednesday, September 23, 2020
  The Big Four accounting firms have developed a set of metrics

Read the rest of this page »


 

VIEs Simplified

Wednesday, September 23, 2020
  A few simple questions to identify a variable interest and possibly eliminate the applicability of the VIE consolidation model

Read the rest of this page »


 

SEC reduces disclosures of legal proceedings, climate change and human capital risks

Wednesday, August 26, 2020
  The move is part of the SEC’s push to roll back regulations

Read the rest of this page »


 

Here is How Moving to Work Remotely Could Affect Your Taxes

Tuesday, August 25, 2020
  The rules are complicated and vary by state

Read the rest of this page »


 

CECL Encounters a Perfect Storm

Wednesday, August 19, 2020
  Complexity, Crisis, and Uncertainty

Read the rest of this page »


 

Metric of the Month: Uncollectable Balances as a Percentage of Revenue

Tuesday, August 4, 2020
  It’s more important than ever to know how much bad debt your company holds

Read the rest of this page »


 

Twitter Bitcoin Hack Caused by Phone-Based Phishing Attack

Friday, July 31, 2020
  The attack exploited human vulnerabilities to gain access to its internal systems

Read the rest of this page »


 

IIA updates Three Lines Model to stress risk management and governance

Tuesday, July 21, 2020
  The new model aims to help organizations better identify and structure the interactions and responsibilities of key players

Read the rest of this page »


 

Big Four Heading for Audit Shakeup in U.K.

Tuesday, July 7, 2020
  The U.K.'s accounting watchdog has asked the firms to submit a plan for separating their audit and consulting businesses

Read the rest of this page »


 

Challenges to consider in auditing revenue recognition

Wednesday, July 1, 2020
  Auditors need a complete understanding of the standard and how it affects their clients’ financial statements

Read the rest of this page »


 

SEC staff guidance addresses pandemic-related disclosures

Tuesday, June 23, 2020
  Public companies need to carefully consider their disclosure obligations

Read the rest of this page »


 

High Fees for Exec-Comp Consultants a Tipoff to Sumptuous CEO Pay: Study

Tuesday, June 9, 2020
  How effective is a continuing regulatory focus on cross-selling by exec-comp consultants?

Read the rest of this page »


 

FASB issues limited revenue recognition, lease accounting delays

Wednesday, June 3, 2020
  The accounting effective dates are deferred for certain organizations that have not yet applied new guidance

Read the rest of this page »


 

PCAOB releases inspection reports for six largest firms in new format

Monday, June 1, 2020
  The new format streamlines the content to make the reports more readable

Read the rest of this page »


 

Is COVID-19 Infecting Your Internal Control over Financial Reporting?

Tuesday, May 12, 2020
  Various Risks to ICFR Due to the Coronavirus

Read the rest of this page »


 

Preparing for the New-Normal

Monday, April 27, 2020
  Back to basics with a SWOT analysis

Read the rest of this page »


 

The New Landscape of IT Internal Controls

Monday, April 27, 2020
  Dealing with a home office environment

Read the rest of this page »


 

Ransomware is now the biggest online menace you need to worry about - here is why

Wednesday, April 22, 2020
  Ransomware attacks have overtaken credit card theft as the top form of cybercrime

Read the rest of this page »


 

SBA issues details for Paycheck Protection Program loans

Friday, April 3, 2020
  The interim final rule lays out additional implementation guidelines and requirements for the PPP

Read the rest of this page »


 

Luckin Coffee Crashes After Company Admits COO Fabricated Transactions

Thursday, April 2, 2020
  Fabricated $310 million in total sales and inflated certain costs and expenses

Read the rest of this page »


 

Virus Relief Bill Delays CECL Rule for Banks

Friday, March 27, 2020
  Rare intervention by Congress in what is normally the domain of the FASB

Read the rest of this page »


 

FASB may need to revise CECL to deal with coronavirus fallout

Monday, March 23, 2020
  Pressure to relax its credit losses standard as banks and other financial institutions see the value of their assets plunge

Read the rest of this page »


 

SEC rolls back audit requirements for smaller companies internal controls

Thursday, March 12, 2020
  Smaller public companies with less than $100 million in annual revenue no longer will need an attestation of their ICFR

Read the rest of this page »


 

7 Considerations for a Strong Cybersecurity Strategy

Friday, March 6, 2020
  Ensuring Cyber Readiness with a Robust CRMP

Read the rest of this page »


 

The Myth of Auditor Independence

Friday, March 6, 2020
  Waking Up to Unconscious Bias

Read the rest of this page »


 

How coronavirus factors into public company disclosures

Tuesday, March 3, 2020
  Measures you can take to help ensure future compliance

Read the rest of this page »


 

Attacked by Ransomware, Many Companies Opt to Pay Up

Friday, February 14, 2020
  The demanded ransom is often a moderate amount that would pale in comparison to the recovery and reputational costs for a company that refuses to pay.

Read the rest of this page »


 

White House proposes folding PCAOB into SEC by 2022

Thursday, February 13, 2020
  The move would save up to $580 million by 2030

Read the rest of this page »


 

FASB Turns Up the Heat on Goodwill Impairment Testing

Wednesday, February 12, 2020
  Amortizing goodwill ignores key analytical and economic consequences

Read the rest of this page »


 

Dont Discount Secondhand Whistleblower Reports

Friday, February 7, 2020
  Research shows that reports based on secondhand information are actually more credible than those from firsthand knowledge

Read the rest of this page »


 

KPMG predicts audit committee agenda for 2020

Thursday, January 23, 2020
  Reinforcing audit quality and setting clear auditor expectations will likely show up on the agendas of audit committees

Read the rest of this page »


 

Can Companies Come to Grips With AI Hype?

Friday, January 17, 2020
  As artificial intelligence options pile up, it gets harder to tell what's real from what's fake

Read the rest of this page »


 

What Are the Top Concerns for Boards in 2020?

Monday, January 13, 2020
  The list includes a potential economic downturn, board diversity, corporate reputation, pay equity, cybersecurity, and corporate innovation

Read the rest of this page »


 

NY Regulator Seeks Banks Libor Transition Plans

Monday, January 6, 2020
  Inadequate preparation for the transition could have an adverse impact on the safety and soundness of regulated institutions

Read the rest of this page »


 

COSO releases guidance on managing cyber risks

Tuesday, December 24, 2019
  The guidance, aimed at board directors, particularly audit committee members

Read the rest of this page »


 

SEC approves PCAOB 2020 budget

Friday, December 20, 2019
  The budget is an approximately 4 percent increase over the 2019 budget

Read the rest of this page »


 

PCAOB plans further changes on inspections and quality control

Tuesday, December 3, 2019
  The PCAOB is in the middle of significant change

Read the rest of this page »


 

Senior official describes cyber workforce shortage as national security threat

Tuesday, November 12, 2019
  We have a major deficit across the nation with regards to our cybersecurity workforce

Read the rest of this page »


 

Finance projects often fail, but they do not have to

Tuesday, November 12, 2019
  Data transformation is necessary for businesses to modernize their financial functions and to thrive

Read the rest of this page »


 

Critical audit matters have arrived

Friday, October 25, 2019
  Critical audit matters are upon us, and the early results are in!

Read the rest of this page »


 

Corporate board members overconfident about risks, says IIA

Tuesday, October 22, 2019
  The report found a significant misalignment

Read the rest of this page »


 

FASB votes to defer effective dates of major standards

Wednesday, October 16, 2019
  The move comes in response to complaints from various constituents about the difficulties of implementing so many new standards

Read the rest of this page »


 

SEC Pulls Plug on Telegram Initial Coin Offering

Monday, October 14, 2019
  The SEC isn’t playing around

Read the rest of this page »


 

6 Cybersecurity Misconceptions

Friday, October 4, 2019
  Be sure your organization is not buying into some common myths about data security

Read the rest of this page »


 

Financial Reporting Control Considerations

Wednesday, September 18, 2019
  5 Tips to Increase ICFR Effectiveness

Read the rest of this page »


 

Companies still behind schedule on lease accounting standards

Monday, September 16, 2019
  Only 26.3 percent of public company execs say their implementation is complete

Read the rest of this page »


 

Microsoft Discloses ‘Critical Audit Matters’

Thursday, August 22, 2019
  Deloitte, found CAMs related to revenue recognition judgments and uncertain income tax provisions

Read the rest of this page »


 

Overcoming Cybersecurity Communications Barriers

Tuesday, August 20, 2019
  Problematic language disconnects between spoken by cybersecurity professionals, senior executives and their board exist

Read the rest of this page »


 

Companies penalize audit firms for flagging their own weaknesses

Monday, August 12, 2019
  Auditing firms that tend to find material weaknesses in companies’ internal controls are seen as less attractive in the audit market

Read the rest of this page »


 

SEC Aims to Ease Disclosure Rules

Friday, August 9, 2019
  Proposes a more principles-based, less-prescriptive approach to business description and risk factor disclosures

Read the rest of this page »


 

Securities Fraud Class Actions Spike Again

Thursday, August 1, 2019
  Cases filed since the beginning of 2017 represent more than 20% of all such cases filed since 1997

Read the rest of this page »


 

What Canada Teaches Us About Internal Controls

Wednesday, July 31, 2019
  The SEC's proposal to broaden the exemption from Sarbanes-Oxley's internal controls rules is ill-advised

Read the rest of this page »


 

CFOs Remain Cautious With Corporate Cash

Wednesday, July 17, 2019
  U.S. companies have not relinquished their liquidity buffers or habit of keeping cash in ultra-safe investment vehicles

Read the rest of this page »


 

FASB to propose delaying effective dates for 4 major standards

Wednesday, July 17, 2019
  FASB’s response to the burden placed on preparers by the board’s ambitious standard-setting activities

Read the rest of this page »


 

PCAOB offers more guidance on CAMs

Thursday, July 11, 2019
  Two new documents and a video are released

Read the rest of this page »


 

How to detect and defuse a toxic workplace

Monday, May 27, 2019
  A poisonous atmosphere is a sure way to drive out your ‘A’ players

Read the rest of this page »


 

Few Companies Have an Adequate CFO Succession Plan

Monday, May 6, 2019
  Four in five finance chiefs say there's not currently anyone in the company ready to take over the role

Read the rest of this page »


 

PCAOB board member wants auditors to be more vigilant about cybersecurity

Thursday, May 2, 2019
  May ask auditors to look at cybersecurity when assessing risks at the companies they audit

Read the rest of this page »


 

How to Blow the Whistle to the SEC

Tuesday, April 30, 2019
  Becoming a whistleblower requires planning. For example, do you report the fraud internally first or go directly to the SEC?

Read the rest of this page »


 

Hertz seeks $70M in clawbacks tied to accounting scandal

Tuesday, April 2, 2019
  Former executives of pressuring employees to use fraudulent accounting techniques to inflate income and earnings according to a March 25 lawsuit

Read the rest of this page »


 

Audit Committees Warned on Meeting with PCAOB

Tuesday, March 19, 2019
  When the PCAOB asks to speak with an issuer's audit committee, it "may be a gateway to enforcement activity," note attorneys from Stinson Leonard Street

Read the rest of this page »


 

2019 Staff Inspections Outlook for Audit Committees

Thursday, March 14, 2019
  Types of questions to consider asking auditors

Read the rest of this page »


 

Chief Audit Execs: Internal Audit Can Do Better

Wednesday, March 6, 2019
  The degree of dissatisfaction registered by the respondents was notable considering that they were to some extent pointing a finger at themselves

Read the rest of this page »


 

FASB Clarifies Implementation Guidance and Disclosure Requirements In Leases Standard

Tuesday, March 5, 2019
  Addresses two lessor implementation issues and clarifies that lessees and lessors are exempt from a certain interim disclosures

Read the rest of this page »


 

Wells Fargo officials make record $240 million settlement over bogus accounts

Friday, March 1, 2019
  It resolves claims that the officials breached their fiduciary duties

Read the rest of this page »


 

FASB proposes changes in accounting for deferred revenue in business combinations

Thursday, February 14, 2019
  Update would resolve an issue that came up for companies applying FASB's new revenue recognition standard

Read the rest of this page »


 

Tech companies encroaching on audit market

Monday, February 11, 2019
  Tech providers like IBM are competing with Big Four firms

Read the rest of this page »


 

FASB gets pushback from some banks on CECL

Friday, February 1, 2019
  The FASB staff is going to do some research and report back to the board

Read the rest of this page »


 

Balance Sheets Filled With Goodwill

Wednesday, January 2, 2019
  But goodwill impairments are on the rise, having climbed 23% in 2017

Read the rest of this page »


 

Rate of Growth in Audit Fees Doubled in 2017: FERF

Tuesday, December 11, 2018
  Audit Fees Going Up

Read the rest of this page »


 

GEs Big Goodwill Impairment Draws Scrutiny

Thursday, December 6, 2018
  The struggling conglomerate took the biggest impairment charge in almost a decade

Read the rest of this page »


 

Lease accounting changes expected to cost millions

Tuesday, December 4, 2018
  The use of outside resources has surged among companies, with budgets ballooning to meet the impending deadline

Read the rest of this page »


 

Keeping Your Whistleblower Hotline Alive

Friday, November 16, 2018
  Ideas to Maximize Hotline Effectiveness

Read the rest of this page »


 

SEC looking at Trump proposal on quarterly financial reporting

Monday, November 12, 2018
  A six month system?

Read the rest of this page »


 

Deadline approaching for lease accounting changes

Tuesday, October 30, 2018
  Companies are still behind schedule

Read the rest of this page »


 

SEC Probing Honeywell Accounting for Liabilities

Monday, October 22, 2018
  Now estimating asbestos-related liabilities much higher from its prior estimate

Read the rest of this page »


 

Email Scammers Still Tripping Up Finance Personnel

Tuesday, October 16, 2018
  The SEC finds that internal accounting controls failed to prevent companies from losing money to business email fraud

Read the rest of this page »


 

Costco Warns of Material Weakness in Controls

Friday, October 5, 2018
  The warning related to IT systems that support the company’s financial reporting processes, and drove Costco's stock down 2.4%

Read the rest of this page »


 

Ex-Salix CFO Fined $1M for Misstating Inventory

Monday, October 1, 2018
  CFO failed to disclose high wholesaler inventory levels resulting from its practice of overselling demand

Read the rest of this page »


 

Metric of the Month: Learning Days Per Employee

Monday, September 10, 2018
  Investing in employees’ ongoing learning helps organizations attract, retain, and develop talent

Read the rest of this page »


 

Why You Should Bring Customers to the M&A Table

Thursday, September 6, 2018
  Deal-makers often don’t consider customers according to a global branding consultancy

Read the rest of this page »


 

Understanding the 7 Mindsets of International Negotiation

Friday, August 31, 2018
  How to identify the type of person you’re negotiating with and know what makes them tick

Read the rest of this page »


 

Welcome to year one of ASC 606

Tuesday, August 28, 2018
  These new rules are particularly tricky for any company with recurring revenue

Read the rest of this page »


 

Small Companies Carry Greatest Cyber-Risk

Tuesday, August 28, 2018
  More than half of top executives at small businesses don't believe their company is a target for cyber-criminals. They're wrong.

Read the rest of this page »


 

Lessons from Early Lease Accounting Adopters

Monday, August 27, 2018
  Implementation process ideas for the new lease accounting standard

Read the rest of this page »


 

SEC streamlines disclosure requirements

Friday, August 17, 2018
  SEC sending some accounting-related disclosure requirements to the FASB for consideration into US GAAP

Read the rest of this page »


 

SEC Charges Cloud Communications Company and Two Senior Executives With Misleading Revenue Projections

Tuesday, August 7, 2018
  The company and executives agreed to pay over $1.9 million in penalties

Read the rest of this page »


 

Accelerated Share Repurchases Help Execs, Not Investors

Tuesday, August 7, 2018
  Creates an immediate EPS boost that serves to help managers secure bonuses, study suggests

Read the rest of this page »


 

SEC Proposes Rules to Simplify and Streamline Disclosures in Certain Registered Debt Offerings

Tuesday, July 24, 2018
  Would reduce the costs and burdens for registrants

Read the rest of this page »


 

All 'Big Four' Auditors to Trial Blockchain Platform for Financial Reporting

Thursday, July 19, 2018
  Will initially allow the auditing firms to conduct external confirmation

Read the rest of this page »


 

SEC relaxes disclosure requirements for smaller companies

Friday, June 29, 2018
  For now, the SEC isn’t changing for the threshold in the “accelerated filer” definition

Read the rest of this page »


 

SEC proposes changes to whistleblower program

Thursday, June 28, 2018
  Would be extra consideration given to small and exceedingly large awards

Read the rest of this page »


 

How blockchain might affect audit and assurance

Thursday, June 28, 2018
  The emergence of blockchain has led to concerns over the future of CPAs in auditing

Read the rest of this page »


 

SECs Wesley Bricker sees management accountants as 'expert historians', weighs in on revamped PCAOB

Tuesday, June 19, 2018
  Bricker also discussed progress he is seeing with the revenue recognition and lease accounting standards

Read the rest of this page »


 

Governing Cybersecurity

Monday, June 11, 2018
  Cybersecurity Committees On The Rise

Read the rest of this page »


 

Lease accounting standard has technology hurdles

Thursday, June 7, 2018
  Companies are not fully prepared for implementing the lease standard

Read the rest of this page »


 

7 lessons from adopting rev recognition

Monday, June 4, 2018
  Nearly half of private companies are still in the assessment phase

Read the rest of this page »


 

Companies have spent a stunning $2 trillion on mergers so far this year

Thursday, May 24, 2018
  Merger mania is back

Read the rest of this page »


 

Do Big Four Auditors Unfairly Raise Fees?

Monday, May 21, 2018
  The longer the tenure, the greater the fee per a scholarly paper

Read the rest of this page »


 

FERF report examines blockchain use by financial execs

Wednesday, May 9, 2018
  The report predicts that fundamental precepts of accounting and auditing will need to be rethought

Read the rest of this page »


 

Private companies falling behind on new accounting standards

Monday, April 23, 2018
  It is now becoming front and center

Read the rest of this page »


 

Accounting class-action suits hit record levels

Wednesday, April 18, 2018
  Although the total settlement value declined significantly, according to a new report

Read the rest of this page »


 

Life sciences companies adjust to new accounting rules

Monday, April 9, 2018
  Dealing with recent accounting standards, plus a new tax law, amid a changing landscape for their industry

Read the rest of this page »


 

Ex-FASB member would like to see changes

Thursday, April 5, 2018
  Revenue recognition has been a particularly heavy lift for some companies

Read the rest of this page »


 

CAQ Tool Helps Audit Committees Oversee Implementation of New Leases Accounting Standard

Wednesday, April 4, 2018
  The new standard will likely require significant time and resources

Read the rest of this page »


 

Controller Charged in Revenue Recognition Scheme

Tuesday, March 27, 2018
  Sales scheme should have been detected by the former CEO and former controller

Read the rest of this page »


 

Audit firms goof more after lowering fees and providing non-audit services

Thursday, March 8, 2018
  Increases rate of client misstatements

Read the rest of this page »


 

How organizations can streamline month-end close

Thursday, March 1, 2018
  This process is a time of stress and long hours for employees, despite technological improvements

Read the rest of this page »


 

SEC wants cybersecurity disclosures

Monday, February 26, 2018
  Cybersecurity incidents and risks should be disclosed

Read the rest of this page »


 

Supreme Court Whistleblower Ruling: Analysis

Friday, February 23, 2018
  Significant protections for whistleblowers remain in place

Read the rest of this page »


 

Why Is Blockchain Suddenly So Hot?

Friday, February 9, 2018
  Corporate treasury departments are embracing it to manage FX more efficiently

Read the rest of this page »


 

Don’t Forget Cybersecurity in M&A Due Diligence

Tuesday, January 30, 2018
  Traditionally, cybersecurity oversight has been relegated to an add-on check

Read the rest of this page »


 

FASB Seeks Cut in Lease-Accounting Costs

Thursday, January 11, 2018
  The board offers an option to cut paperwork and other expenses

Read the rest of this page »


 

Visible CFOs Linked to Lower Stock Volatility

Friday, January 5, 2018
  A company providing souped-up sentiment analyses for earnings calls and central-bank speeches spots the trend

Read the rest of this page »


 

Kmart whistleblower awarded $9 million for prescription drug overcharges

Friday, December 29, 2017
  The federal False Claims Act permits private parties to sue on behalf of the government and share in any recovery

Read the rest of this page »


 

Candela Solutions and Pt. Platinum Consulting Merge to Form Kral Ussery, a Certified Public Accounting Firm

Wednesday, December 13, 2017
  Taking our strategic partnership to the next level with the formation of Kral Ussery LLC is a natural next step

Read the rest of this page »


 

FASB plans to ease lease accounting requirements

Wednesday, November 29, 2017
  FASB is also providing a transition approach

Read the rest of this page »


 

Anti-Fraud Collaboration encourages reporting on financial misconduct

Thursday, November 16, 2017
  Overcome obstacles to create a retaliation-free environment

Read the rest of this page »


 

Fraud and fraudsters: A quick guide for CPAs

Tuesday, November 14, 2017
  Fraud is a huge problem for businesses worldwide

Read the rest of this page »


 

SEC approves PCAOB expanded audit report standard

Monday, October 23, 2017
  A discussion of critical audit matters

Read the rest of this page »


 

What PCAOB inspectors are looking for

Wednesday, August 30, 2017
  Compliance with new transparency rules and preparation for new accounting standards targeted

Read the rest of this page »


 

Leveraging COSOs Internal Control - Integrated Framework

Wednesday, August 16, 2017
  How to Integrate a Compliance & Ethics Program with a Control Framework

Read the rest of this page »


 

Microsoft Scales Accounting Mountain

Friday, August 4, 2017
  Microsoft adopts both the new revenue recognition and lease accounting standards early

Read the rest of this page »


 

Executives fret over lease accounting standards

Monday, July 31, 2017
  Nearly half of corporate executives are concerned

Read the rest of this page »


 

As Sarbanes-Oxley nears 15-year anniversary, ethics fall short

Monday, July 24, 2017
  Only 41.3% of execs said their organizations’ global ethics cultures are strong

Read the rest of this page »


 

Concern that disclosure burdens may be deterring some companies from going public

Wednesday, July 12, 2017
  SEC Chair Says Disclosure Burden Excessive

Read the rest of this page »


 

Companies grapple with leasing standard complications

Thursday, July 6, 2017
  Many are underestimating the amount of work involved

Read the rest of this page »


 

SEC clears the way for stealth IPOs for all companies

Thursday, June 29, 2017
  Chairman Jay Clayton has said he wants more startups to go public

Read the rest of this page »


 

Companies off to a slow start on lease accounting standard

Tuesday, June 27, 2017
  Two new surveys from PwC and EY

Read the rest of this page »


 

New auditing disclosure requirement takes effect June 30

Monday, June 26, 2017
  Need to disclose on Form AP information about other accounting firms that participated in the audit

Read the rest of this page »


 

FASB proposes changes to consolidation guidance

Thursday, June 22, 2017
  The proposal aims to address some of the concerns of private companies

Read the rest of this page »


 

Don't Be Held For Ransomware

Wednesday, June 7, 2017
  Five fundamental steps your company can follow to curb its chances of falling victim to a ransomware attack

Read the rest of this page »


 

AICPA advises on cybersecurity risk management

Wednesday, May 24, 2017
  Helps to examine and report on cybersecurity risk management programs

Read the rest of this page »


 

Advice to Cyber Insurance Buyers: You Are Not Alone

Tuesday, May 9, 2017
  Cyber underwriters are using "security scores" to assess their clients' risks

Read the rest of this page »


 

Why finance executives should care about blockchain

Monday, May 8, 2017
  Businesses must prepare as the digital ledger for cryptocurrency and wide swaths of documentation gains mass acceptance

Read the rest of this page »


 

SEC registrant number continues to decline

Monday, April 24, 2017
  The number of audit opinions from companies filing financials with the SEC plunged from 13,337 in 2000 to 8,094 in 2015, a nearly 40 percent decrease

Read the rest of this page »


 

Revenue Recognition Disclosure Requirements: A Challenge That Can't Wait

Monday, April 17, 2017
  Treating them as a minor detail that can be quickly and easily addressed once the other requirements have been satisfied is a mistake

Read the rest of this page »


 

Study finds some breaches have wiped as much as 15% off companies' stock market valuations

Wednesday, April 12, 2017
  Cyber Attacks Can Cause Major Stock Drops

Read the rest of this page »


 

Wells claws back $75 million from top execs in sales scandal

Monday, April 10, 2017
  Overly aggressive sales culture date back at least 15 years

Read the rest of this page »


 

Investors paying more attention to nonfinancial info

Friday, April 7, 2017
  Survey respondents said public company CEOs should provide an explicit strategy for long-term value creation

Read the rest of this page »


 

Why Workday Adopted New Revenue Recognition Rules Early

Friday, March 24, 2017
  The sooner we could provide transparency around ASC 606 the better

Read the rest of this page »


 

Financial CHOICE Act Would Be Big Boost for Banks

Wednesday, March 22, 2017
  CHOICE Act would significantly increase penalties for securities law violations

Read the rest of this page »


 

Settlements Skyrocket in Securities Class Actions

Wednesday, March 15, 2017
  The 2016 aggregate dollar amount in the cases was nearly double the 2015 total

Read the rest of this page »


 

Why Boards Must Step Up To Deter Corporate Scandals

Monday, March 13, 2017
  CEOs often suffer cultural myopia and outside directors frequently fail to provide adequate oversight

Read the rest of this page »


 

Managements Annual Report on ICFR

Wednesday, February 22, 2017
  Public Company Reminders & Lessons

Read the rest of this page »


 

5 tips to ease CFOs worst worries

Wednesday, February 8, 2017
  Economic and political conditions, demographics, and culture shape the challenges CFOs encounter

Read the rest of this page »


 

Preparing for the new revenue recognition standards

Wednesday, February 8, 2017
  Choosing the right adoption method

Read the rest of this page »


 

Better Data, Better Decisions

Tuesday, February 7, 2017
  Step up their efforts to leverage data within their risk management programs

Read the rest of this page »


 

IIA chief wants internal auditors to focus on five key areas

Sunday, February 5, 2017
  Need to stay relevant in a rapidly changing risk landscape in the business environment

Read the rest of this page »


 

Class-Action Filings Hit Record in U.S. Courts

Tuesday, January 31, 2017
  The 43% increase in securities cases largely reflects "forum shopping" in the wake of a Delaware court ruling

Read the rest of this page »


 

FASB updates goodwill impairment standard

Thursday, January 26, 2017
  The new standard requires a one-step impairment test

Read the rest of this page »


 

Focus Points for 2017

Thursday, January 12, 2017
  10 Action Items for CFOs and Controllers

Read the rest of this page »


 

FASB clarifies business definition

Friday, January 6, 2017
  Clarifies the official definition of a “business” for purposes of the accounting rules

Read the rest of this page »


 

Trump to tap Wall Street lawyer Jay Clayton to head SEC

Thursday, January 5, 2017
  Clayton brings decades of experience helping companies navigate complex federal regulations

Read the rest of this page »


 

CAQ helps audit committees assess rev rec standard

Tuesday, December 13, 2016
  Only 17 percent of public companies said they are in the implementation phase

Read the rest of this page »


 

'Tis the Season for Distractions and Accounting Mistakes

Wednesday, December 7, 2016
  The only way to make sure this doesn't happen is to be proactive

Read the rest of this page »


 

Accounting Officials Scrutinize Non-GAAP Measures

Monday, December 5, 2016
  Effort to rein in the use of non-GAAP financial measures

Read the rest of this page »


 

Risky Business: SEC Focuses on Internal Controls

Friday, December 2, 2016
  A decline in accounting fraud has freed up time for SEC staff to prioritize internal controls over financial statements

Read the rest of this page »


 

Audit Fees Rise Again

Friday, December 2, 2016
  However, the largest filers are keeping a lid on costs by improving internal controls

Read the rest of this page »


 

Goodwill Impairment on the Rise at U.S. Companies

Wednesday, November 16, 2016
  Record degree of goodwill impairment happened in spite of a robust year for M&A activity

Read the rest of this page »


 

Internal Auditors Confront Ethical Pressures

Monday, October 31, 2016
  Nearly one out of four internal auditors around the world face pressures to either suppress or change their audit findings

Read the rest of this page »


 

SEC Enforcement Hits Records in 2016

Wednesday, October 12, 2016
  The commission also obtained judgments and orders totaling more than $4 billion in disgorgement and penalties

Read the rest of this page »


 

Board Directors Split on Non-GAAP Reporting

Tuesday, October 11, 2016
  Majority indicated they believe auditor involvement would provide higher investor confidence in the reporting of non-GAAP measures

Read the rest of this page »


 

Groups Push FASB to Require Multinational Companies to Disclose More Tax Information

Friday, September 30, 2016
  Want FASB to require multinational companies to disclose their revenues, profits and taxes on a country-by-country basis

Read the rest of this page »


 

FASB Technical Corrections Signal Progress on New Rev Rec Standard

Wednesday, September 28, 2016
  FASB proposed four technical corrections and improvements this month

Read the rest of this page »


 

3 Trends Driving Changes in Accounting

Tuesday, September 27, 2016
  Those in favor of change have reached a critical mass

Read the rest of this page »


 

Cybercrime and the CPA

Wednesday, September 14, 2016
  Cybercrimes now negatively affect at least a third of all U.S. companies

Read the rest of this page »


 

FASB Plots Out Future Agenda

Monday, August 8, 2016
  The Financial Accounting Standards Board is asking for feedback on its future agenda

Read the rest of this page »


 

Epic CEO fails: From chronically poor judgment to disguised malice

Monday, August 1, 2016
  Recent post about toxic tone at the top and corporate train wrecks

Read the rest of this page »


 

PCAOB Outlines Priorities for 2016 Audit Firm Inspections

Thursday, July 14, 2016
  The Public Company Accounting Oversight Board released two documents Thursday describing what its staff is looking for this year when inspecting auditors of public companies and broker-dealers.

Read the rest of this page »


 

AICPA Drafts Industry Guidance for Rev Rec Standard

Wednesday, July 6, 2016
  The American Institute of CPAs’ Financial Reporting Executive Committee has drafted a set of implementation issues for nine different industries that it plans to incorporate in a guide to the new revenue recognition standard next year.

Read the rest of this page »


 

COSO Updates Enterprise Risk Management Framework

Tuesday, June 14, 2016
  The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.

Read the rest of this page »


 

SEC Bars Two for False Accounting

Thursday, June 9, 2016
  Inappropriately inflated the company’s work-in-process inventory to meet budgeted gross profit margins

Read the rest of this page »


 

IOSCO Surveys Audit Committee Oversight of Auditors

Tuesday, May 31, 2016
  A new report providing an overview of how audit committees around the world oversee audit firms

Read the rest of this page »


 

Boards are still failing to fix culture in their organizations; though financial services is leading the way

Tuesday, May 31, 2016
  Defining corporate culture is still an issue at many companies, new research has revealed.

Read the rest of this page »


 

Total SEC Enforcement Actions Against Public Companies and Subsidiaries Rise

Tuesday, May 17, 2016
  The SEC brought 84 actions against public companies in FY 2015, compared to 55 actions in the previous fiscal year

Read the rest of this page »


 

SEC Awards More Than $5 Million to Whistleblower

Tuesday, May 17, 2016
  “Employees are often best positioned to witness wrongdoing”

Read the rest of this page »


 

SEC Official Registers Objections to Non-GAAP Reporting

Friday, May 6, 2016
  Certain staff interpretive guidance had resulted in some unintended consequences

Read the rest of this page »


 

PCAOB Mulls Changes in Inspections and Enforcement

Thursday, May 5, 2016
  PCAOB is seeing some “slivers of hope” in audit quality improvement

Read the rest of this page »


 

Worth MacMurray: The DOJ is emphasizing a "culture of compliance"

Monday, April 18, 2016
  “An effective compliance and ethics program"

Read the rest of this page »


 

SEC Questions Widespread Use of Non-GAAP Measures

Monday, April 18, 2016
  Approximately two-thirds of companies that make up the Dow Jones Industrial Average reported non-GAAP earnings per share

Read the rest of this page »


 

Companies Seeking Accountants with Data Analytics Skills

Friday, April 15, 2016
  Businesses are facing a significant shortage of accounting and finance professionals who have data analytics skills, according to a new report.

Read the rest of this page »


 

SEC seeking input on disclosure effectiveness

Wednesday, April 13, 2016
  "We need to take account of how various investors actually interact with companies’ disclosures"

Read the rest of this page »


 

Las Vegas Sands antes $9 million to settle corruption case

Saturday, April 9, 2016
  The SEC alleges Las Vegas Sands violated anticorruption laws

Read the rest of this page »


 

Rethinking Disclosure - Encouraged by the SEC, companies are finding new ways to make 10-Ks and other disclosures more relevant and reader-friendly

Thursday, April 7, 2016
  A growing number of companies are pursuing disclosure improvement on their own

Read the rest of this page »


 

Which non-GAAP metrics will catch the SECs eye?

Monday, April 4, 2016
  Scrutiny of companies’ use of financial metrics that don’t comply with generally accepted accounting standards is going to increase

Read the rest of this page »


 

Staff Observations of Custom Axis Tags

Wednesday, March 30, 2016
  Filers should carefully evaluate their need for custom axis tags and, where possible, eliminate their use

Read the rest of this page »


 

SASB Debuts Advisory Partner Program

Tuesday, March 29, 2016
  To encourage corporate and investor application of SASB's standards and guidance on sustainability accounting

Read the rest of this page »


 

Remarks before the 12th Annual Life Sciences Accounting and Reporting Congress

Wednesday, March 23, 2016
  James V. Schnurr, thoughts and perspectives on the continuing transition activities

Read the rest of this page »


 

FASB Amends Revenue Recognition Standard

Monday, March 21, 2016
  The Financial Accounting Standards Board has amended the converged revenue recognition standard it developed with the International Accounting Standards Board to add more guidance about principal versus agent considerations.

Read the rest of this page »


 

Shareholder Meetings Likely to Focus on Audit Committees and Other Issues

Friday, March 11, 2016
  Audit committee oversight, mergers and acquisitions, currency risk, cybersecurity, foreign currency risk and executive compensation are among the big topics likely to dominate annual shareholder meetings this spring

Read the rest of this page »


 

Internal Audit and its Bosses Stuck in Value Gap

Friday, March 11, 2016
  The primary concern is effectiveness and efficiency

Read the rest of this page »


 

FASB Releases Lease Accounting Standard

Thursday, February 25, 2016
  The Financial Accounting Standards Board issued its long-awaited lease accounting standard Thursday, one of the major convergence projects on which it has collaborated for a decade with the International Accounting Standards Board.

Read the rest of this page »


 

Accountants Need to Do More to Deter Cybercrime

Wednesday, February 24, 2016
  Cybercrime is becoming too pervasive for accountants to ignore, according to a new report from the Institute of Management Accountants and the Association of Chartered Certified Accountants.

Read the rest of this page »


 

How the PCAOB AS #18 Impacts Audit

Tuesday, February 23, 2016
  Conversations on related party relationships and transactions are raging this year within audit firms, audit committees and management groups of public companies, thanks to a relatively new auditing standard.

Read the rest of this page »


 

Board Directors Worried about Corporate Strategy

Tuesday, February 16, 2016
  One in three U.S. board members and executives are “very concerned” that the climate of uncertainty and volatility may pose a significant threat to their corporate strategy, according to a new survey by KPMG.

Read the rest of this page »


 

Boeing Said to Face SEC Accounting Probe

Friday, February 12, 2016
  The U.S. Securities and Exchange Commission is investigating whether Boeing Co. properly accounted for the costs and expected sales of two of its best known jetliners, according to people with knowledge of the matter.

Read the rest of this page »


 

SEC Will Only Target Directors in Egregious Cases

Wednesday, February 10, 2016
  "We need to take account of how various investors actually interact with companies’ disclosures“Enforcement isn't second guessing good-faith decisions by the board"

Read the rest of this page »


 

Internal Audit Function Looks Externally for Help

Friday, February 5, 2016
  Thirty-eight percent of organizations are turning to outside services to supplement the efforts of their internal audit function

Read the rest of this page »


 

Will new accounting rule slow adoption of cloud computing?

Wednesday, February 3, 2016
  FASB changed a rule that will make it harder to capitalize the cost of cloud set-up and implementation expenses

Read the rest of this page »


 

Companies Expected to See Biggest Impact from New Leasing Standard

Monday, February 1, 2016
  The lease accounting standard that the Financial Accounting Standards Board plans to release this quarter is expected to have a major impact on many companies, requiring current off-balance sheet leasing activities to be reflected on balance sheets for ...

Read the rest of this page »


 

FASB Issues Standard for Financial Instruments Recognition and Measurement

Tuesday, January 12, 2016
  The Financial Accounting Standards Board issued Tuesday a long-awaited accounting standards update for the recognition and measurement of financial instruments that it has been developing for over a decade with the International Accounting Standards ...

Read the rest of this page »


 

Cybersecurity predictions for 2016

Monday, January 4, 2016
  Last year I quoted late, great sage and Hall of Fame baseball player Yogi Berra. Yogi once noted, "It's tough to make predictions especially about the future."

Read the rest of this page »


 

M&A bankers toast a bumper year discreetly

Wednesday, December 23, 2015
  Bankers are celebrating the biggest year on record for mergers and acquisitions

Read the rest of this page »


 

SEC Penalizes Grant Thornton for Ignoring Red Flags in Audits

Sunday, December 6, 2015
  Agreed to pay $4.5 million

Read the rest of this page »


 

SEC Chief Accountant: Auditors Need to Keep Improving

Thursday, November 19, 2015
  Public company audits are improving, according to SEC

Read the rest of this page »


 

Most Companies Unprepared for Revenue Recognition Standard

Tuesday, November 3, 2015
  78 percent said their companies have not yet attempted to even quantify the financial statement impact of the new revenue recognition standard

Read the rest of this page »


 

More Issuers Revealing Pre-IPO Weaknesses

Friday, October 30, 2015
  The percentage of IPOs revealing material weaknesses in their internal controls before they go public has been rising steadily

Read the rest of this page »


 

Audit Fees for Public Companies Up 3.4%

Thursday, October 15, 2015
  Audit fees for public companies rose 3.4% last year, reflecting in part the impact of completed mergers or acquisitions, according to a new survey by the trade group Financial Executives International.

Read the rest of this page »


 

SEC Charges Former Tech Execs with Accounting Fraud

Friday, October 9, 2015
  A scheme to materially inflate OCZ’s revenues and gross margins

Read the rest of this page »


 

FASB Proposes Materiality Improvements for Financial Disclosures

Monday, September 28, 2015
  The Financial Accounting Standards Board has issued for public comment two exposure drafts related to materiality and its Disclosure Framework project with the goal of making financial disclosures more effective.

Read the rest of this page »


 

FASB Proposes to Clarify Revenue Recognition Standard

Monday, August 31, 2015
  The Financial Accounting Standards Board has issued a proposed accounting standards update to clarify the implementation guidance on principal versus agent considerations contained in the new revenue recognition standard.

Read the rest of this page »


 

Most U.S. Firms Can't Find Source of "Conflict Minerals"

Thursday, August 27, 2015
  GAO found that 67% of a sample of companies had been unable to trace the source of the conflict minerals used

Read the rest of this page »


 

The Role Of The Board In Appointing And Dismissing The CEO

Friday, August 7, 2015
  "The most important job of the board is to decide whether a CEO’s time is up or not"

Read the rest of this page »


 

FASB Streamlines Accounting for Employee Benefit Plans

Wednesday, August 5, 2015
  The Financial Accounting Standards Board has issued a three-part accounting standards update for employee benefit plans accounting as part of its efforts to simplify the accounting rules.

Read the rest of this page »


 

"Controls" Is Not a Dirty Word - Insights Into Controls Challenges and Solutions

Wednesday, July 29, 2015
  Few words spark more angst in business circles than “controls”

Read the rest of this page »


 

PCAOB Sanctions 7 Audit Firms and Individuals

Tuesday, July 28, 2015
  For violations of the Engagement Quality Review standard and other requirements

Read the rest of this page »


 

Companies Need To Do More To Help New CEOs Succeed

Monday, July 27, 2015
  A succession of corporate scandals and recessions, culminating in the financial crisis that began in 2008, has led to great attention on both sides of the Atlantic to the running of the boards of publicly-quoted companies.

Read the rest of this page »


 

How to Respond to a Data Breach

Wednesday, July 15, 2015
  It’s been a bad year (or several) for information security. Incidents seem to be getting bigger and more frequent.

Read the rest of this page »


 

What the Delay of FASBAs Revenue Recognition Standard Means

Tuesday, July 14, 2015
  This deferral does not mean that companies should wait to start their implementation efforts

Read the rest of this page »


 

SEC proposes rules requiring clawbacks after company restatements

Thursday, July 2, 2015
  Public companies that re-state their financial results would be required to recover, any excess incentive compensation earned by their corporate executives

Read the rest of this page »


 

Group Formed to Improve XBRL Filing Quality

Tuesday, June 30, 2015
  XBRL US has joined up with five companies to improve the quality of financial filings in Extensible Business Reporting Language with the Securities and Exchange Commission.

Read the rest of this page »


 

PCAOB has new plan for naming audit engagement partners

Monday, June 29, 2015
  Identification of the engagement partner has been a hotly debated issue in the United States for many years

Read the rest of this page »


 

FASB issues 2 more proposals aimed at simplification

Tuesday, June 9, 2015
  FASB continued its efforts to simplify financial reporting by issuing separate proposals designed to simplify the equity method of accounting and improve employee share-based payment accounting.

Read the rest of this page »


 

PCAOB Scrutinizes Audit Firms' Use of Specialists

Monday, June 1, 2015
  Focuses on the objectivity and oversight of specialists and the use of their work in audits

Read the rest of this page »


 

Herz and Tweedie Reflect on Convergence Efforts

Monday, May 25, 2015
  Baruch College in New York brought together the former chairman of the Financial Accounting Standards Board, Bob Herz, and the former chairman of the International Accounting Standards Board, Sir David Tweedie, last month to discuss the evolution of ...

Read the rest of this page »


 

Cybercrime Costs to Soar to $2T By 2019

Monday, May 18, 2015
  Cybercrime will cost businesses over $2 trillion by 2019, almost four times the estimated cost of security breaches this year, according to a report by Juniper Research.

Read the rest of this page »


 

FASB formally proposes revenue recognition changes

Thursday, May 14, 2015
  FASB’s efforts to resolve challenges with the new revenue recognition standard continued Tuesday when the board formally proposed targeted changes that are intended to clarify guidance related to identifying performance obligations and licensin

Read the rest of this page »


 

PCAOB Broadens Outreach to Audit Committees

Monday, May 11, 2015
  Highlights key areas of recurring concern in PCAOB inspections of large audit firms as well as certain emerging risks to the audit

Read the rest of this page »


 

Investors Unhappy with FASB Simplification of Accounting Standards for Private Companies

Friday, May 8, 2015
  A new study questions the wisdom of the Financial Accounting Standards Board’s initiative to simplify accounting standards for private companies

Read the rest of this page »


 

The Board's Role with Risk

Thursday, April 30, 2015
  Where does the board’s role begin and end regarding risk?

Read the rest of this page »


 

Handling Cybersecurity Disclosures

Tuesday, April 28, 2015
  Cyber-attack headlines are all too common nowadays, and involve some of the biggest names in business. With numerous cyber-attacks and threats occurring each year, the Securities and Exchange Commission has taken a keen interest in cybersecurity ...

Read the rest of this page »


 

Auditors Worried about Cyber Risks in Power Industry

Monday, April 27, 2015
  Chief audit executives in the power and utility industry rank cyber security as the highest risk and biggest concern for their industry, according to a new report from PricewaterhouseCoopers.

Read the rest of this page »


 

Corporate Directors Confront The Impacts Of Economic And Geopolitical Risks On Strategy

Tuesday, April 14, 2015
  The need for corporate directors to think like emerging market investors was a key message at the National Association of Corporate Directors (NACD)‘s recent NACD Directorship 2020 forum. During the event, more than 100 corporate directors convened to ...

Read the rest of this page »


 

FASB agrees to propose revenue recognition standard delay

Thursday, April 2, 2015
  Financial statement preparers may get the option to take more time implementing the new revenue recognition standard. FASB agreed Wednesday to propose delaying the effective date by one year for both public and private companies.

Read the rest of this page »


 

Directors get a seat at the table

Wednesday, April 1, 2015
  In an age of disruption, investor activism, cyberwar, and regulator pressure, corporate boards are taking on ever more authority.

Read the rest of this page »


 

SECs Stein calls for ending debate over dueling accounting rules

Tuesday, March 31, 2015
  Called for an end to the long-running debate over whether the United States should switch to global accounting standards

Read the rest of this page »


 

Internal auditors confident in risk assessment but face possible talent shortage

Tuesday, March 17, 2015
  Survey released by the Institute of Internal Auditors (IIA)

Read the rest of this page »


 

Forging cooperation between internal audit, external audit, audit committee

Wednesday, March 11, 2015
  Although internal audit, external audit, and audit committees have different roles, their duties often intersect.

Read the rest of this page »


 

Latest GRC Survey Shows Disconnect on Risk

Friday, March 6, 2015
  survey to show chief audit executives and audit committees are not on the same page in their view of the highest priority areas for internal audit attention

Read the rest of this page »


 

Revenue recognition - New differences emerging

Thursday, February 26, 2015
  Revisions to clarify the standard to reduce diversity in practice

Read the rest of this page »


 

Revenue recognition implementation concerns finance executives

Wednesday, February 25, 2015
  Nearly 1/3 of the corporate finance executives surveyed listed revenue recognition implementation as their top concern

Read the rest of this page »


 

Goodyear pays 16 million to settle Africa bribe charges

Wednesday, February 25, 2015
  Goodyear Tire & Rubber Co. agreed to pay $16.2 million to settle SEC charges that subsidiaries in Kenya and Angola paid bribes to increase tire sales.

Read the rest of this page »


 

Three Governance Lessons Learned from the NFL

Monday, February 16, 2015
  Both public companies and NFL teams are complex organizations focused on profit and victory

Read the rest of this page »


 

SEC Claws Back Money from Tech CFOs for Accounting Fraud

Friday, February 13, 2015
  Two former CFOs have agreed to return nearly a half-million dollars in bonuses and stock sale profits they received while their company was committing accounting fraud

Read the rest of this page »


 

FASB Moves to Finalize Leasing Standard, Sets Effective Dates

Friday, February 13, 2015
  The Financial Accounting Standards Board voted to proceed to issuing a final standard on its long-delayed project for overhauling the accounting for leases and set the dates for when the new standard will take effect.

Read the rest of this page »


 

House GOP chairman: Cyberattacks now threaten EVERY BUSINESS

Friday, February 6, 2015
  A leading House Republican is responding angrily to news that hackers breached the health insurance giant Anthem and gained access to the personal information of as many as 80 million people.

Read the rest of this page »


 

SEC OKs PCAOB Budget and Accounting Support Fee

Thursday, February 5, 2015
  Both fees were lower than last year

Read the rest of this page »


 

Viewing cybersecurity through a COSO lens

Tuesday, January 20, 2015
  Cybersecurity is a constant source of concern for businesses as high-profile breaches make headlines almost daily

Read the rest of this page »


 

No more extraordinary items - FASB simplifies GAAP

Wednesday, January 14, 2015
  FASB’s simplification initiative is designed to reduce cost and complexity while maintaining the usefulness of the information provided to users of financial statements

Read the rest of this page »


 

Should U.S. Companies Get an IFRS Option

Monday, January 5, 2015
  Possible approach by the SEC's Office of the Chief Accountant

Read the rest of this page »


 

IPO FAQs | IPO Process | Detailed IPO Process Steps
Home | Privacy Policy | Disclaimer | Site Map

Copyright © , Kral Ussery LLC, Certified Public Accountants All Rights Reserved

Web Presence By Netphoria Inc