Launched back in 2009, the Audit Analytics Broker-Dealer database now has nearly 16 years worth of audited annual and quarterly reports submitted to the SEC by broker- dealers. Key data points include auditor of the financial statements, assets, revenue, and contacts. For … Continue reading
Monthly Archives: November 2017
2017 Transfer Agent Market Share
For the past five years, we have examined the market share of transfer agents engaged by active SEC registrants. During this time, we have noted only minor changes to the market share of the top five transfer agents- Computershare/BNY Mellon, … Continue reading
Ranking the Equifax Data Breach (Updated)
Equifax [EFX] is the latest casualty of a massive data breach. Equifax recently disclosed that a cybersecurity incident may have affected 145.5 million U.S. consumers. According to Equifax, the incident occurred between May and July 2017. The breached information included names, Social Security numbers, … Continue reading
Reporting multiple Earnings Per Share numbers – General Electric is not alone
On the recent Q3 earnings call, General Electric [GE] pledged to simplify adjusted EPS (Earnings Per Share) numbers that are being reported to investors. Among other things, Jamie Miller, the incoming CFO of GE, plans to move off reporting industrial and … Continue reading
Ineffective Disclosure Controls, an Eleven Year Update
Section 302 of the Sarbanes-Oxley Act (SOX 302) mandates that public companies establish a system of effective Disclosure Controls. The signing officers are required to certify that that they (1) are responsible for establishing and maintaining disclosure controls and procedures, … Continue reading
Adopting the 2013 COSO Framework: Fiscal 2016 Update
By now, every company should be using the COSO 2013 Framework in conjunction with their annual evaluations. In updating last year’s analysis, we discovered otherwise. Although the original version of the framework released in 1992 was superseded by the 2013 … Continue reading
SOX 404 Disclosures: A Thirteen Year Review
The Sarbanes-Oxley Act of 2002 was passed by Congress to better protect investors. Section 404 of this act (SOX 404) requires companies to review their internal controls over financial reporting (ICFR) and declare whether their ICFRs are “effective” or “ineffective”. … Continue reading