The annual Audit Analytics report on financial restatement trends is now available. This report provides a detailed analysis and comparison of trends in financial restatements over an eighteen-year period. When looking at restatements, we categorize them by two levels: reissuance restatements and revision restatements. Reissuance restatements, sometimes … Continue reading
Monthly Archives: August 2019
Trends in the Number of Key Audit Matters Reported
As Audit Analytics’ Key Audit Matters (KAMs) database continues to expand, we are noticing some significant trends in the number of KAMs reported in annual reports. The average number of KAMs reported in 2018 was 2.66 per audit opinion. Interestingly, … Continue reading
Auditor Market Share of the Russell 3000
It is no secret that the Big Four auditors – Deloitte, EY, KPMG and PwC – dominate at the top of the public company audit market. Large companies almost exclusively use the Big Four, while a handful of other firms … Continue reading
Changes in KAM Count
We recently analyzed the frequency in which key audit matters (KAMs) were disclosed in 2017 and 2018. In this post, we take a closer look at the changes in the number of KAMs disclosed by companies during the same time … Continue reading
Litigation Overview for the Russell 3000
The Russell 3000 has been involved in a total of 2,616 material litigation cases filed with various US federal courts since January 1, 2016, based on an analysis of Audit Analytics’ litigation database.1 Similar to our last analysis, the most … Continue reading
Auditor Changes Roundup: Q2 2019
Prager Metis CPAs, with a net of 16 new SEC audit clients, accounts for the most new SEC audit clients among all firms in Q2 2019. The 18 engagements for Prager Metis CPAs in Q2 2019 was the highest of … Continue reading
Evolution of SOX 404 Disclosures for EGCs
SOX 404 continues to be the target of those seeking to introduce further regulation leniencies. A new bill has been introduced with the aim of reducing regulatory burdens for low-revenue issuers. Currently, companies lose their Emerging Growth Company (EGC) status … Continue reading