The Financial Reporting Council (FRC) is now acting on changes recommended by the recent independent reviews of the audit market in the UK. Deloitte, EY, KPMG, and PwC have each been notified on 6 July 2020 that they have four … Continue reading
IPO Proceeds: 2015-2019
An initial public offering, more commonly referred to as an IPO, is the process of offering shares of a private corporation to the public in a new stock issuance, therefore becoming a public company. This process – which requires many … Continue reading
Who Audits Dual-Status Public Companies – 2020
In 2019, there were 1,951 public companies that opted to file with the SEC with a dual filer status, or 32.6% of companies included in our Who Audits Public Companies – 2020 Edition analysis. These statuses include: Large Accelerated Filer … Continue reading
After 111 Years, General Electric Switches Auditor
On June 18th, the Audit Committee of General Electric [GE] – a multinational conglomerate company – selected Deloitte & Touche as its independent auditor for the Company’s fiscal year ending December 31, 2021, ending its 111-year tenure with KPMG. According … Continue reading
SEC Eyes Impairment Testing in Comment Letter Amid Pandemic
Last week, the Securities and Exchange Commission (SEC) released a comment letter to Carlisle Companies Incorporated [CSL] – a global diversified manufacturing company – asking the Company to expand on its disclosure regarding impairment testing in Q1 2020. Carlisle’s annual … Continue reading
COVID-19 Impacts on European Audit Opinions
This post will be updated to reflect the current number of filings citing the COVID-19 pandemic in a going concern opinion, key audit matter, or emphasis of matter. Overall Statistics As of the week ended 12 June 2020, Audit Analytics … Continue reading
Who Audits Smaller Public Companies – 2020
In 2019, there were 2,679 companies that filed as either a Non-Accelerated Filer, Smaller Reporting Company, or both. This population of companies comprised just under half – or 44.8% – of the 5,985 SEC-registered public companies. In a recent post, … Continue reading