Audit Analytics was invited to present at a recent meeting of the Financial Accounting Standards Advisory Council (FASAC), on March 17th at the FASB offices in Norwalk, CT. CEO and Founder, Mark Cheffers – along with Olga Usvyatsky, VP of … Continue reading
Monthly Archives: March 2015
The Problem with Pledging
Last fall, at its annual meeting, FedEx (NYSE: FDX) shareholders and the Board of Directors debated the issue of pledging. FedEx policy prohibits share pledging, but allows the company’s general counsel to grant exceptions on a case-by-case basis. A sole but … Continue reading
When Does a Company’s Year End?
The first few months of the year make up the “busy season” for accountants. Tax accountants, of course, have a glut of business leading up to April 15th. And for companies with fiscal years that correspond to the calendar year, financial … Continue reading
Litigation Data Reveals Lumber Liquidators Issues
Last Sunday night, “60 Minutes” on CBS raised some serious concerns about Lumber Liquidators (LL) products, linking them to possible health and safety violations. Trading of LL stock was halted for two hours the following morning, and ultimately ended the day down 25%. Lumber … Continue reading
Genworth Financial Cites Inadequate Controls
Reporting requirements may sometimes seem to be set in stone, but they do in fact change from time to time. Usually, when a regulator changes a requirement, it also imposes a deadline for the implementation of the change. The companies are … Continue reading
Auditor Changes Roundup: 2014 Annual Summary
BDO had another great year in terms of SEC audit clients. The Global Six firm won 54 new clients compared to 14 losses, for a net increase of 40 engagements in 2014, to go along with a net increase of 57 … Continue reading