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
Q2 2023 IPO Trends
Initial public offerings (IPOs) have continued to decline in the second quarter of 2023. In total, 34 IPOs raised a combined total of $7.4 billion during Q2. After a large spike in IPOs during Q2 2021, second quarter IPOs have … Continue reading
2022 Going Concern Trends in Canada
Over the last decade, more than half of public companies listed on Canadian exchanges received a going concern opinion annually. The number of companies that received a going concern increased by 3.5% during FY2022 to 2,190 companies. This continues the … Continue reading
London Stock Exchange Auditor Changes: 2022
PKF gained the most overall clients listed on the London Stock Exchange (LSE) in 2022. The global firm obtained 15 new clients, with 18 engagements and three departures during the year. Three PKF member firms contributed to the overall gains … Continue reading