I just finished reading the September 2017 issue. It was a very good overview of what's wrong (and right) with accounting education. The takeaways for…
ICYMI | The PCAOB’s Proposed New Auditor’s Report
A Sneak Peek at What Lies Ahead
In May, the PCAOB issued a proposed standard, “The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion,” which,…
Poland began its transition to capitalism upon the collapse of the Soviet Union in 1991. At the time, the Polish Securities and Exchange Commission (PSEC),…
President Trump has nominated Wall Street lawyer Walter “Jay” Clayton to be the next chairman of the SEC. While Clayton has no experience as a…
The PCAOB’s Proposed New Auditor’s Report
A Sneak Peek at What Lies Ahead
In May, the PCAOB issued a proposed standard, “The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion,” which,…
SEC | The Audit Committee Financial Expert
A Closer Look at What That Means
In 2003, the SEC adopted rules implementing section 407 of the Sarbanes-Oxley Act of 2002 (SOX), requiring a public company to disclose whether at least…
In mid-2013, the SEC established the Financial Reporting and Audit Task Force, which in part was formed to spearhead the Division of Enforcement's efforts to…
In August 2015, the SEC, by the narrowest of margins (3 votes for, 2 against), adopted the long-awaited and politically charged rule requiring large U.S.…
FASB’s Proposal to Change the Definition of Materiality
The Unexpected Uproar
In September 2015, FASB issued two proposed documents that, if adopted, could change the way the concept of materiality is assessed and applied regarding information…
FASB’s Proposal to Change the Definition of Materiality: The Unexpected Uproar
2016 Max Block Award Winner: Outstanding Article in the Area of Departments/Columns
In September 2015, FASB issued two proposed documents that, if adopted, could change the way the concept of materiality is assessed and applied regarding information…
European Audit Reform
How It Could Affect U.S. Companies
In April 2014, European Union (EU) legislation was adopted to reform the European statutory audit market. In this context, a statutory audit is a legally…
Equity Crowdfunding
The Good, the Bad, and the Potentially Ugly
On October 30, 2015, the SEC issued final rules to implement Title III of the Jumpstart Our Business Startup (JOBS) Act, which amended the Securities…