Cybersecurity continues to be a top priority for management. PwC’s 2016 Global Economic Crime Survey found that “61% of CEOs [in the survey] are concerned about cyber security.” However, “only 37% of respondents […] have a fully operational incident response … Continue reading
Monthly Archives: November 2016
Literature Review: “Qualitative Characteristics of Financial Reporting Errors Deemed Immaterial by Managers”
In this post, we look at a recent paper titled “Qualitative Characteristics of Financial Reporting Errors Deemed Immaterial by Managers” by Preeti Choudhary, Kenneth Merkley, and Katherine Schipper. The authors use Audit Analytics’ databases on restatements and immaterial error corrections to provide an in-depth analysis of the … Continue reading
Audit Fees and Non-Audit Fees: A Fourteen Year Trend
Last week, Audit Analytics released its annual report Audit Fees and Non-Audit Fees: A Fourteen Year Trend. The report provides a detailed breakdown of fees paid by accelerated filers and includes an additional analysis of companies that filed an auditor attestation that disclosed ineffective … Continue reading
Who Audits Bank Holding Companies
Bank holding companies (BHCs) have come under the microscope of regulators in the years following the Great Recession, mainly for their perceived link to the subprime mortgage crisis. Supervised by the Federal Reserve, BHCs with total consolidated assets over $500 … Continue reading
Auditor Changes Roundup: Q3 2016
Auditor churn among SEC registrants in the third quarter of 2016 was relatively uneventful compared to last quarter. The most movement was with BDO, which had fifteen gains and seven losses for a net increase of eight new clients, doubling their net total from the previous … Continue reading
2016 Audit Committee Transparency Barometer
On Tuesday, the Center for Audit Quality released its third annual Audit Committee Transparency Barometer. Compiled and published in partnership with Audit Analytics, the Barometer evaluates the extent of audit committee disclosures for the S&P 1500 Composite companies, broken out … Continue reading