There were 4,217 insurance companies registered with the National Association of Insurance Commissioners (NAIC) during 2018, a slight increase from the 4,184 registered companies in 2017. Filing audited financial statements is required unless a company receives an exemption; 146 of … Continue reading
Monthly Archives: June 2019
KAMs Enter as the UK Exits
The United Kingdom’s pending exit from the European Union has been a cause of extreme uncertainty, both geopolitically and economically. Given the potential magnitude of the event, and considering London’s place as a center of global finance and industry, there … Continue reading
CEO and CFO Departures: 2016-2018
When a director or officer joins or leaves a public company, the SEC requires certain information be disclosed in a current report (8-K) under Item 5.02 within four business days. The information required includes basics, such as the officer’s name, … Continue reading
SEC Comment Letters: An Eight Year Trend
The total amount of comment letters stemming from 10-K and 10-Q filings has once again decreased (as shown in the chart below). From 2017 to 2018, total comment letters decreased by roughly 26%, which is slightly steeper than the decline we’ve … Continue reading
Pros and Cons of Using Non-GAAP Metrics for Executive Compensation, Including ESG Considerations
This article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. There has been considerable debate about companies that use non-GAAP metrics for executive compensation and whether these firms are … Continue reading
A Closer Look at Votes Against Auditor Ratification – 2018
Note: This post was updated to reflect a change in the first table (Highest % Votes Against per Year). The original table incorrectly included Dynasil Corp of America as having the highest percentage of votes against in 2018. An analysis … Continue reading
Market Concentration of PIEs – An Analysis of Transparency Report Data
Audit Analytics collects all EEA and member-state defined Public Interest Entities (“PIEs”) disclosed by audit firms in annual transparency reports. Public Interest Entities are: Entities traded on a regulated market of an EU Member State; Credit institutions; Insurance undertakings; or … Continue reading