On December 18, 2013 the SEC released its proposal to expand Regulation A, as required by title IV of the 2012 JOBS Act. The new proposal split the regulation into two tiers: Tier 1 for small issuers (up to $5 … Continue reading
Monthly Archives: January 2014
SEC: Taxes in Season
Last Friday, the Wall Street Journal published an interesting piece from Emily Chasan about the SEC, taxes and comment letters. In that article, Ms. Chasan reported that the SEC grilled a number of companies on their disclosures regarding the possible … Continue reading
R&D Tax Credit Set to Expire – Analysis of Effective Tax Rates
Emily Chasan of the CFO Journal recently reported that investors are being warned about the impending expiration of the longstanding research and development (R&D) tax credit. We put together a brief analysis of average effective tax rates, comparing companies with R&D … Continue reading
Change in Estimate – Accounting Red Flag?
Late last week, Diamond Foods (DMND) agreed to pay $5 million to settle charges brought by the SEC. The SEC alleged that “Diamond’s then-chief financial officer Steven Neil directed the effort to fraudulently underreport money paid to walnut growers by delaying … Continue reading
Analysis of Audit Fees by Industry Sector
How much should an audit cost? It’s a difficult question to answer. It’s not as simple as charging an hourly rate: since a lot of audits are fixed fees, billable hours are irrelevant except to internal P&Ls. Many audit engagements … Continue reading