Mondaq USA: Accounting and Audit
Fox Rothschild LLP
The U.S. Department of Health and Human Services ("HHS") Office for Civil Rights ("OCR") issued an alert on November 28, 2016, regarding an email purporting to be from OCR.
Brown Smith Wallace
Accounting for variable interest entities (VIEs) continues to be a source of frustration for private companies and their accountants.
Shearman & Sterling LLP
On 19 September 2016, the SEC announced that it had reached a settlement with Ernst & Young ("EY") regarding the actions of two audit partners who violated the rules that are designed to maintain...
Orrick
On September 29, 2016, the IRS issued Revenue Procedure 2016-51, which updates the Employee Plans Compliance Resolution System...
Cadwalader, Wickersham & Taft LLP
The SEC initiated administrative proceedings against a partner of an accounting firm who served as "engagement partner" for the independent audits of a venture capital fund.
WilmerHale
At a conference last week, the Chief Accountant of the SEC's Division of Corporation Finance emphasized that the SEC staff will scrutinize companies' financial reports in their upcoming reports on Form 10-K to see if they include required disclosures about the impacts of applying new accounting standards on revenue recognition, credit losses and leases.
Venable LLP
The Department of Justice Inspector General's (IG) office recently released a highly critical audit of DOJ's Foreign Agents Registration Act of 1938 (FARA) enforcement program.
Goldin Peiser & Peiser, LLP
Fraud is a fact of life, but despite that reality, I continue to find clients who "trust" that their company is free from fraud, even without any controls in place to verify whether that's true
WilmerHale
The Center for Audit Quality and Audit Analytics recently released their 2016 Audit Committee Transparency Barometer.
Baker Newman Noyes
The Bipartisan Budget Act of 2015, enacted into law November 2, 2015, significantly changes the current IRS audit rules that apply to partnerships and entities taxed as partnerships...
Wilson Elser Moskowitz Edelman & Dicker LLP
Section 1.700.001 of the Code of Professional Conduct mandates that members shall not disclose any confidential client information unless the client consents to disclosure.
Cadwalader, Wickersham & Taft LLP
An accounting firm agreed to pay more than $11.8 million to settle SEC charges relating to the failed audits of an oil services company that allegedly used deceptive income tax accounting to inflate earnings.
WilmerHale
Speaking at the American Law Institute's Conference on Accountants' Liability in September, Andrew Ceresney, Director of the Division of Enforcement of the Securities and Exchange Commission, reviewed in detail the SEC's historical and current enforcement activity in the area of auditing.
Scott & Scott LLP
Responding to a software audit can be an arduous, expensive, and time-consuming process for a company.
Brown Smith Wallace
On August 26, the FASB published an update to U.S. GAAP that aims to improve and clarify eight parts of existing guidance on cash flow statement presentation and classification.
Goldin Peiser & Peiser, LLP
There's a good chance that you're tired of hearing about high failure rates for small businesses. To come this far, you have beaten the odds, defied conventions and piloted around the naysayers many times over.
Baker Newman Noyes
It has been over two decades since the Financial Accounting Standards Board (FASB) last updated the not-for-profit financial reporting model. Over the past couple of years...
Baker Newman Noyes
In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960)...
Brown Smith Wallace
U.S. Generally Accepted Accounting Principles (GAAP) are a set of rules and procedures that accountants typically follow to record and summarize business transactions.
Brown Smith Wallace
The Center for Audit Quality — an autonomous, nonprofit public policy organization composed of accounting professionals — has compiled a checklist of possible questions for audit committees...
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Ropes & Gray LLP
With New Year's behind us and roughly four and a half months to go until the calendar 2015 conflict minerals filings are due, many companies are ramping up their compliance efforts in earnest.
Foley Hoag LLP
The year ahead promises to be a busy one for those with responsibility for HIPAA compliance, as the OCR, charged with enforcing HIPAA, continues to lean in to compliance initiatives...
Brown Smith Wallace
Accounting for variable interest entities (VIEs) continues to be a source of frustration for private companies and their accountants.
Seyfarth Shaw LLP
We are pleased to announce the webinar "Trade Secret Audits: You Can't Protect What You Don't Know You Have" is now available as a webinar recording.
Shearman & Sterling LLP
On 19 September 2016, the SEC announced that it had reached a settlement with Ernst & Young ("EY") regarding the actions of two audit partners who violated the rules that are designed to maintain...
Stites & Harbison PLLC
Two recent acts of Congress (including the rather interestingly named Protection of Americans from Tax Hikes Act) created new audit rules for partnerships.
Fox Rothschild LLP
The U.S. Department of Health and Human Services ("HHS") Office for Civil Rights ("OCR") issued an alert on November 28, 2016, regarding an email purporting to be from OCR.
Reinhart Boerner Van Deuren S.C.
The following questions and requests were posed by actual government auditors – Zone Program Integrity Contractors (ZPICs) and Medicaid Integrity Contractors (MICs) – during on-site audits.
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