Cash may be king, but when it comes to auditing, cash is not usually considered a high risk area. The audit procedures around cash usually begin and end with confirming the balance on hand with the company’s banks, and there … Continue reading
Monthly Archives: February 2019
SEC Enforcement Targets Ineffective Controls – Who Else Is at Risk?
The Securities and Exchange Commission recently fined four companies for having ineffective internal controls. In its enforcement press release, the SEC told the four companies, Grupo Simec S.A.B. de C.V. [SIM: NYSE], Lifeway Foods [LWAY: Nasdaq], Digital Turbine [APPS: Nasdaq] … Continue reading
Year-End European Audit Fees Starting to Roll In
December 31, 2018 year-end annual reports are starting to roll in, and with them our European research team is hard at work extracting audit fee and other audit-related data from them. As of February 18, we have audit fee disclosures … Continue reading
Trends in Disclosure Controls: 2010-2017
Audit Analytics has released a new report, Trends in Disclosure Controls: 2010 – 2017, which takes a closer look at the research initially discussed in our annual disclosure controls trends blog published in December. The analysis is multifaceted, diving deeper … Continue reading
Recently Reported Auditor Changes across Europe
There were 16 recently reported auditor changes across Europe in January 2019. It is important to note, however, this is not a comprehensive list; not all changes are, or have been, disclosed. Of the 16 announced, ten are listed on … Continue reading
Long-Term Capital Market Consequences of Financial Restatements
Key Findings Computing the cumulative average abnormal return (CAAR) to document market reaction after a financial restatement, we found no significant abnormal returns in either the first 30-day window following the date of restated financials or after a 90-day window for … Continue reading
Auditor Tenure among Nordic Indices
In this post, we look at the longest auditor tenures of the companies in the top Nordic indices. This includes a review of 136 companies, with only one having a joint audit. As shown in the graph below, eight of … Continue reading