Profession in Focus: Interview with the CAQ

Posted on February 26, 2016 by Erica Jacobsen

Audit Analytics CEO Mark Cheffers was recently interviewed by Cindy Fornelli, executive director of the Center for Audit Quality, in an episode of the CAQ’s video series “Profession in Focus.” During the interview, Cheffers and Fornelli discussed the second edition … Continue reading →

Adopting the Spot-Rate in Pension Accounting

Posted on February 19, 2016 by Derryck Coleman

A wave of change appears to be forming in the arcane area of pension accounting. About a year ago, AT&T made a change to the way it calculates the present value of future pension obligations. Typically, companies used the “weighted-average” method … Continue reading →

Is Contract Accounting under the Microscope?

Posted on February 17, 2016 by John Pakaluk

Last week, news came out that the SEC was investigating Boeing Co. for possible irregularities in the company’s long-term contract accounting. (Bloomberg) The U.S. Securities and Exchange Commission is investigating whether Boeing Co. properly accounted for the costs and expected … Continue reading →

Comments Pending? Companies without Recent Comment Letters

Posted on February 15, 2016 by Olga Usvyatsky

In each of the past three years, the SEC has reviewed the filings of more than half of all public companies. In its 2015 Agency Financial Report, for example, the SEC disclosed that it reviewed 51% of public companies last year … Continue reading →

Reasons for an Amended 10-K: 2015

Posted on February 8, 2016 by Jessica McKeon

Form 10-K provides a vast amount of information about a company and its operations. Sections of the form include a description of the business, specific risks faced by the company, material legal proceedings, and executive compensation disclosures. Occasionally, a company … Continue reading →