Over the summer, we investigated the auditor market share for SEC registered companies. In that post, we highlighted what we saw as an interesting stratification of the public company audit market. The smaller the group of companies, the more competitive the … Continue reading
Monthly Archives: February 2015
Amended Filings: What’s Missing in 10-Ks?
In the eyes of investors and stakeholders, amended filings can sometimes be perceived as a red flag. After all, in an effective control environment, registrants should presumably file full and reliable information on the first attempt. So when a company has to … Continue reading
Market Share of ESG Attestations
Environmental, social, and governance reporting has been around for quite some time, but engagements with independent assurance agencies have started to become more common only in the last few years. The chart below shows the number of audited (or attested) … Continue reading
IPO Accounting & Legal Fees: 2014 Update
2014 saw mixed results in trends related to the accounting and legal fees of IPO companies. Average fees steadily increased from 2008 to 2013, with particularly steep inclines being noted in 2012 and 2013. In 2014, however, both average accounting and … Continue reading
Use of Non-GAAP Metrics in IPO Prospectuses: SEC Comment Letters
From the first draft to the final version, an S-1 prospectus of a company goes through many revisions. Financial and operational numbers, wording, composition, length – all can change significantly. What might drive these changes? In some cases, the release of new information requires … Continue reading
2014 IPOs: Auditor Market Share and More
Overview With 80 initial public offerings taking place in US markets in the last quarter of the year, 2014 ended with a bang, up 27% from the 63 IPOs in Q3. That brings the year-to-date total to 309, a nice bump … Continue reading
Environmental, Social, and Governance Reporting by the Russell 3000
Environmental, social, and governance (ESG) reporting has become an important part of public company and stakeholder communication. Since 2000, 540 of Russell 3000 companies have compiled at least one ESG report, and many other Russell 3000 companies disclose ESG information on … Continue reading