LATEST ARTICLES
United States
WilmerHale
Last week, the Securities and Exchange Commission (SEC) filed a complaint in U.S. District Court against a company's director, former CEO and former CFO for allegedly making...
McDermott Will & Emery
Almost 11 months ago, the Internal Revenue Service (IRS) released a memorandum regarding the implementation of the Large Partnership Compliance (LPC) Pilot Program, including the identification...
Mayer Brown
On September 6, 2022, the OCA released a statement regarding audit quality and investor protection under the Holding Foreign Companies Accountable Act...
Groom Law Group
On September 6, 2022, the Department of Labor (the "Department") published an Interpretive Bulletin entitled "Independence of Employee Benefit Plan Accountants" (the "Bulletin" or "IB 2022-01")...
Miller, Canfield, Paddock and Stone P.L.C.
The Public Company Accounting Oversight Board (PCAOB) announced on August 26, 2022, that it has signed a Statement of Protocol (SOP) Agreement with the China Securities Regulatory Commission...
Mayer Brown
The Acting Chief Accountant of the Securities and Exchange Commission, Paul Munter, recently released a statement regarding critical points to consider when contemplating an audit firm restructuring.
Mayer Brown
Last Friday, the United States and China appear to have taken a major step towards resolving their long-standing dispute over inspections and investigations by the U.S. Public Company Accounting...
WilmerHale
Segment reporting—a frequent topic of SEC comments and the subject of long-running debate at the Financial Accounting Standards Board (FASB)—continues to appear on the FASB's Technical Agenda...
WilmerHale
The Public Company Accounting Oversight Board (PCAOB) recently released for public comment a draft five-year strategic plan for 2022-2026, setting forth targeted objectives that are ...
Katten Muchin Rosenman LLP
Recently ICE Futures US filed notice with the CFTC of amendments to its audit trail rule.
Mintz
Last week, the two Republican Commissioners of the SEC availed themselves of the opportunity presented by the ability to comment on the Financial Accounting Foundation's Strategic Plan Draft for ...
Ankura Consulting Group LLC
No surprises. Given the tumult in the markets and investor anxiety over the quality of audits performed over the past 12 months... expect the hammer to drop as PCAOB (SEC) investigations pick up.
Cooley LLP
Auditor independence—or rather the potential absence of same—is apparently still a cause of significant agita at the SEC's Office of Chief Accountant.
ORBA
Under the existing "incurred loss" standard, organizations recognize a credit loss only after a loss event has occurred or is probable.
Winston & Strawn LLP
In a recent settlement agreement with JAB Consumer Partners (JAB), the Federal Trade Commission (FTC) continued the trend of increased regulatory scrutiny of private equity "roll-up" transactions (see here and here) ...
SEC Acting Chief Accountant Cautions Against "Checklist Compliance" Approach To Auditor Independence
WilmerHale
SEC Acting Chief Accountant Paul Munter re-emphasized the SEC's focus on auditor independence in his June 8 statement on "The Critical Importance...
ORBA
Even though the Financial Accounting Standards Board (FASB) pushed back the deadline for private companies and not-for-profit organizations to comply with new lease accounting rules — now applicable...
Brownstein Hyatt Farber Schreck, LLP
There are several reasons businesses should conduct civil rights audits.
Worldwide
Jones Day
On August 26, 2022, the PCAOB signed a Statement of Protocol with the CSRC and the Ministry of Finance of the PRC, forging a pathway for the PCAOB to fully inspect and investigate...
WilmerHale
The PCAOB recently released a new Audit Committee Resource, which sets forth questions that audit committee members may want to consider incorporating into their ongoing engagement with auditors.
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