The average total accounting and legal fees for IPO companies in US markets dropped again in 2015, continuing a downward trend line from a peak in 2013. Average accounting fees in 2015 declined by 23% while average legal fees declined by … Continue reading
Monthly Archives: October 2016
2016 Transfer Agent Market Share
Since 2012, Audit Analytics has examined the market share of Transfer Agents appointed by active SEC registrants, looking at the absolute number of clients. In the big picture, not much has changed since last year. The top five in market … Continue reading
Comment Letters with No Response
What happens when a company doesn’t return or fully comply with an SEC comment letter? Receiving a comment letter from the SEC might cause a CFO to suffer some heartburn, but usually the process is no cause for undue concern. Under … Continue reading
Q3 2016 IPOs: Auditor Market Share and More
Overview There were 44 initial public offerings in U.S. markets between July 1, 2016 and September 30, 2016, raising $7 billion. That is a slight increase from the $6.2 billion raised by 40 IPOs last quarter. All told, there have been … Continue reading
Benford’s Law Among the Russell 3000
Benford’s Law, an arcane rule from the math books, is making something of a splash in the world of financial analysis. The basic idea is this: in certain sets of data (the lengths of a collection of rivers, the populations … Continue reading
2015 SEC Filing Highlights, Part 2 of 2
This is part two of our SEC filing review where we take a look back at notable disclosures and outliers from our auditor changes, out-of-period adjustments, changes in accounting estimates, and director and officer change data sets. Auditor Changes 1,007 SEC registrants … Continue reading
Literature Review: “An Analysis and Taxonomy of Disclosure Controls and Procedures Effectiveness”
In a recent post, we discussed trends in Sarbanes-Oxley Act Section 302 Disclosure Controls and Procedures (“DC&P”, or “SOX 302”) filings, and highlighted some reasons why disclosure controls may be of interest to investors and stakeholders. In this post, we look at … Continue reading