Auditors Urged to Tell More
By MICHAEL RAPOPORT Regulators took the first step Tuesday toward requiring companies’ auditors to tell investors more of what they know about their clients—including, possibly, any concerns the...
View ArticleChina Accounting Scandals Put Big Four Auditors on Red Alert
By Rachel Armstrong | June 24, 2011 The string of accounting problems and stock plunges at publicly traded Chinese groups has sparked deep concerns across the world’s biggest audit firms, putting the...
View ArticlePCAOB Proposes Changes in Auditor’s Reporting Model
WASHINGTON, D.C. (JUNE 21, 2011) Among the alternatives are the inclusion of an auditor’s discussion and analysis with an audit report, and audit assurance on information outside the financial...
View ArticleSalzberg to Head Deloitte Globally
By JOANN S. LUBLIN And MICHAEL RAPOPORT Audit and consulting firm Deloitte Touche Tohmatsu Ltd. is poised to name Barry Salzberg, the chief executive of its Deloitte LLP arm in the U.S., as its new...
View Article‘Fair Value’ Accounting Guidelines Tweaked
By MICHAEL RAPOPORT Accounting rule makers tweaked their guidelines for valuing assets based on market prices, a move that will bring U.S. and international accounting rules closer together and will...
View Article‘Convergence’ Hits a Bump
By MICHAEL RAPOPORT A proposed accounting rule that will change how companies book revenue was delayed again Wednesday, as rule makers said more work is needed that will push the rule’s issuance into...
View ArticleIRS Change of address rules
When the IRS wants to correspond with your client, it generally uses as the address of record the one on the most recently filed and “properly processed return.” When IRS regs require that refunds or...
View ArticlePCAOB Adopts Temporary Inspection Plan For Broker-Dealer Audits
The Public Accounting Oversight Board, or PCAOB, agreed to establish an interim inspection program for auditors of broker dealers, as it considers the scope and form of a permanent program for investor...
View ArticleCreating a Company
Working as a derivatives trader on Wall Street right after graduating college in 2005, Maia Josebachvili missed the outdoor activities of her undergraduate years at Dartmouth College. So the...
View ArticleAuditors Under ‘Reverse’ Inquiry
The Securities and Exchange Commission is investigating some accounting firms over their audits of Chinese companies whose shares trade in the U.S., and the inquiry is expected to lead to enforcement...
View ArticleBig Data
Big data is high-volume, high-velocity and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.
View Article2019 Staff Inspections Outlook for Audit Committees
The Board’s new strategic plan anticipated enhanced external engagement and more proactive communication with our stakeholders, including audit committees, to inform them about our core...
View ArticleDirectors often don’t verify information they receive from management with...
Corporate boards may be overlooking critical information about emerging risks—in areas such as cybersecurity or workplace sexual harassment—by relying too heavily on information they receive from...
View ArticleCMO
!!!Overview Sub-prime mortgage and the collateralized mortgage obligations (CMOs) that packaged them were singled out for precipitating the financial crisis of 2008. What is a collateralized mortgage...
View ArticleSharpe Ratio
!!!Overview They say that you cannot compare apples to oranges. In the investment world, there are thousands of potential and conflicting investment candidates with different combinations of risk and...
View ArticleLBO
!!!Introduction Hilton Hotel chains, PetSmart, Inc., Georgia-Pacific LLC, and First Data Corp. are some of target companies of the leveraged buyouts from the 1980s through 2000s. The American private...
View ArticleInterest Rates
What is a common thread going through the whole macroeconomic system, linking all the separate players such as the government, businesses, and consumers? It is the interest rate. It acts as a signal...
View ArticleTax Lien
When people cannot pay the back taxes for whatever reason, they tend to bury their heads in the sand or panic not to respond to payment demand letters from the IRS. Your best bet, however, is to...
View ArticleShare-Based Compensation
With the dot-com boom since 1995, financial newspapers have been replete with terms such as employee call options, stock purchase plans, restricted stocks, and stock appreciation rights. What are these...
View ArticleConsiderations of the Investment in Bonds
!!!Considerations of the Investment in Bonds In an introductory corporate finance course, you may learn that the relationship between the interest rate and price of a bond is inverse (convex). But,...
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