Note: This article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. Key Points: SEC fined former CEO of GT Advanced Technologies (GTAT) over $140,000 in connection with making false … Continue reading
Academic Literature Review: Accounting Reporting Complexity and Non-GAAP Earnings Disclosure
The overall complexity of financial disclosures affects the ability of anyone reading the financial statements, including stockholders, regulators, and investors, to analyze and assess the information presented. One way to measure complexity of disclosures is by determining accounting reporting complexity … Continue reading
Three Ways to Measure Market Concentration: A Comparison Between the UK and Germany
When considering the concentration of the audit market – that is, how competitive the market is between audit firms – there is more than one way to measure control of the market beyond the number of clients an audit firm … Continue reading
Credential Stuffing at Chipotle Mexican Grill Inc.
Note: This article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. It was recently reported that customers of Chipotle Mexican Grill Inc. [CMG] were targeted by a cyber attack … Continue reading
Auditor Changes Roundup: Q1 2019
Deloitte, with a net of nine new SEC audit clients, accounts for the most new SEC audit clients among all firms in Q1 2019. Deloitte holds the top spot for most new clients among the Big Four and the major … Continue reading
Q1 2019 IPOs: Auditor Market Share and Stats
Overview There were 40 initial public offerings (IPOs) in U.S. markets between January 1, 2019, and March 31, 2019. These IPOs raised over $7.7 billion for the quarter, a decrease of over $1.7 billion from last quarter and a decrease … Continue reading
CMA Releases Final Report on the Statutory Audit Market
Last week, the Competition & Markets Authority (CMA) released its final report, concluding its investigation into the UK audit market. The report recommended some major reforms “to address serious competition problems in the UK audit industry”. The study, which was … Continue reading