In our most recent report, Financial Restatements: A 20-Year Review, we found that 68% of restatements resulted in a negative income impact during 2022. If most restatements are a result of complex accounting rules that are misapplied or misunderstood, why is … Continue reading
Impending SEC Cybersecurity Rules: What Lies Ahead for Tech Titans
The SEC’s new rule on cybersecurity has finally been issued. As I sit here pondering what it means, I keep reflecting on a conversation a colleague and I once had about Microsoft. The final decision to disclose cybersecurity breaches will … Continue reading
Q3 2023 IPO Trends
Initial public offerings (IPOs) grew slightly in the third quarter of 2023. In total, 45 IPOs raised a combined total of $9.2 billion during Q3. Q3 2023 saw an increase in both the number of IPOs and the proceeds raised … Continue reading
Repeat Adverse ICFR Assessments
SOX 404 (Section 404 of the Sarbanes-Oxley Act of 2002) requires companies to annually review and disclose the effectiveness of their internal controls over financial reporting (ICFR). An adverse ICFR disclosure is filed when ICFR is found to be ineffective … Continue reading
Auditor Changes Roundup: Q2 2023
Cohen & Company was the leader in net SEC audit client gains for a second consecutive quarter in 2023. After gaining a net of ten clients in Q1, Cohen & Co added an additional nine clients overall in Q2 2023. … Continue reading
Audit Fee Trends of S&P 500
The S&P 500 is one of the most followed equity indices that tracks the largest 500 companies listed on U.S. exchanges. Does this mean they are susceptible to paying higher audit fees overall? There are many factors that affect the general … Continue reading
A Closer Look at Shareholder Votes Against Auditor Ratification – 2022
Among a variety of proposals, shareholder votes on auditor ratification remains a topic year-over-year during proxy season. The auditor ratification vote organized during the annual general meeting provides shareholders an opportunity to express their opinion about the external auditor of … Continue reading