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Anti-Fraud Collaboration encourages reporting on financial misconduct
Thursday, November 16, 2017
  Overcome obstacles to create a retaliation-free environment

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Fraud and fraudsters: A quick guide for CPAs
Tuesday, November 14, 2017
  Fraud is a huge problem for businesses worldwide

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SEC looks at blockchain technology for accountants and eyes initial coin offerings
Tuesday, November 14, 2017
  Staff is still trying to better understand the technology

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PCAOB's Franzel leans toward issuing blockchain and data analytics guidance
Wednesday, November 1, 2017
  Need for auditing firms and regulators to get a better grasp on blockchain

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Europe Data Regulation Poses Big Opportunity
Thursday, October 26, 2017
  The impending regulation is a serious compliance matter

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SEC approves PCAOB expanded audit report standard
Monday, October 23, 2017
  A discussion of critical audit matters

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Equifax says cyber attack may have hit 143 million customers
Thursday, September 7, 2017
  One of the largest breaches in history

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What PCAOB inspectors are looking for
Wednesday, August 30, 2017
  Compliance with new transparency rules and preparation for new accounting standards targeted

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Leveraging COSOs Internal Control - Integrated Framework
Wednesday, August 16, 2017
  How to Integrate a Compliance & Ethics Program with a Control Framework

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

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Executives fret over lease accounting standards
Monday, July 31, 2017
  Nearly half of corporate executives are concerned

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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

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Concern that disclosure burdens may be deterring some companies from going public
Wednesday, July 12, 2017
  SEC Chair Says Disclosure Burden Excessive

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Companies grapple with leasing standard complications
Thursday, July 6, 2017
  Many are underestimating the amount of work involved

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Companies off to a slow start on lease accounting standard
Tuesday, June 27, 2017
  Two new surveys from PwC and EY

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What audit committees need to know about PCAOBs Form AP
Tuesday, June 20, 2017
  Considerations that audit committee members may wish to evaluate

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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

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C-suite: Cybersecurity is #1 issue, ISA report
Friday, June 2, 2017
  It is the responsibility of the boards to provide oversight

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

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Advice to Cyber Insurance Buyers: You Are Not Alone
Tuesday, May 9, 2017
  Cyber underwriters are using "security scores" to assess their clients' risks

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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

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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

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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

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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

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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

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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

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Why Workday Adopted New Revenue Recognition Rules Early
Friday, March 24, 2017
  The sooner we could provide transparency around ASC 606 the better

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Financial CHOICE Act Would Be Big Boost for Banks
Wednesday, March 22, 2017
  CHOICE Act would significantly increase penalties for securities law violations

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Settlements Skyrocket in Securities Class Actions
Wednesday, March 15, 2017
  The 2016 aggregate dollar amount in the cases was nearly double the 2015 total

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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

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Managements Annual Report on ICFR
Wednesday, February 22, 2017
  Public Company Reminders & Lessons

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5 tips to ease CFOs worst worries
Wednesday, February 8, 2017
  Economic and political conditions, demographics, and culture shape the challenges CFOs encounter

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Preparing for the new revenue recognition standards
Wednesday, February 8, 2017
  Choosing the right adoption method

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

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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

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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

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

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

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

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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

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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

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'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

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Accounting Officials Scrutinize Non-GAAP Measures
Monday, December 5, 2016
  Effort to rein in the use of non-GAAP financial measures

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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

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

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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

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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

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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

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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

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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

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FASB Technical Corrections Signal Progress on New Rev Rec Standard
Wednesday, September 28, 2016
  FASB proposed four technical corrections and improvements this month

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3 Trends Driving Changes in Accounting
Tuesday, September 27, 2016
  Those in favor of change have reached a critical mass

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

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FASB Plots Out Future Agenda
Monday, August 8, 2016
  The Financial Accounting Standards Board is asking for feedback on its future agenda

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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

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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.

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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.

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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.

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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

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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

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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.

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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

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SEC Awards More Than $5 Million to Whistleblower
Tuesday, May 17, 2016
  “Employees are often best positioned to witness wrongdoing”

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SEC Official Registers Objections to Non-GAAP Reporting
Friday, May 6, 2016
  Certain staff interpretive guidance had resulted in some unintended consequences

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PCAOB Mulls Changes in Inspections and Enforcement
Thursday, May 5, 2016
  PCAOB is seeing some “slivers of hope” in audit quality improvement

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Worth MacMurray: The DOJ is emphasizing a "culture of compliance"
Monday, April 18, 2016
  “An effective compliance and ethics program"

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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

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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.

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SEC seeking input on disclosure effectiveness
Wednesday, April 13, 2016
  "We need to take account of how various investors actually interact with companies’ disclosures"

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Las Vegas Sands antes $9 million to settle corruption case
Saturday, April 9, 2016
  The SEC alleges Las Vegas Sands violated anticorruption laws

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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

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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

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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

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

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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

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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.

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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

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Internal Audit and its Bosses Stuck in Value Gap
Friday, March 11, 2016
  The primary concern is effectiveness and efficiency

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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.

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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.

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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.

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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.

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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.

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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"

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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

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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

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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 ...

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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 ...

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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."

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M&A bankers toast a bumper year discreetly
Wednesday, December 23, 2015
  Bankers are celebrating the biggest year on record for mergers and acquisitions

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SEC Penalizes Grant Thornton for Ignoring Red Flags in Audits
Sunday, December 6, 2015
  Agreed to pay $4.5 million

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SEC Chief Accountant: Auditors Need to Keep Improving
Thursday, November 19, 2015
  Public company audits are improving, according to SEC

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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

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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

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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.

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SEC Charges Former Tech Execs with Accounting Fraud
Friday, October 9, 2015
  A scheme to materially inflate OCZ’s revenues and gross margins

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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.

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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.

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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

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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"

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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.

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"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”

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PCAOB Sanctions 7 Audit Firms and Individuals
Tuesday, July 28, 2015
  For violations of the Engagement Quality Review standard and other requirements

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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.

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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.

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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

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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

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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.

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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

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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.

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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

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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 ...

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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.

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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

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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

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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

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The Board's Role with Risk
Thursday, April 30, 2015
  Where does the board’s role begin and end regarding risk?

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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 ...

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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.

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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 ...

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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.

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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.

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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

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Internal auditors confident in risk assessment but face possible talent shortage
Tuesday, March 17, 2015
  Survey released by the Institute of Internal Auditors (IIA)

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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.

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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

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Revenue recognition - New differences emerging
Thursday, February 26, 2015
  Revisions to clarify the standard to reduce diversity in practice

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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

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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.

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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

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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

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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.

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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.

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SEC OKs PCAOB Budget and Accounting Support Fee
Thursday, February 5, 2015
  Both fees were lower than last year

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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

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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

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Should U.S. Companies Get an IFRS Option
Monday, January 5, 2015
  Possible approach by the SEC's Office of the Chief Accountant

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