On November 19th, the Public Company Accounting Oversight Board (PCAOB) approved its 2019-2023 Strategic Plan, as well as its fiscal 2020 budget of $284.7 million. The plan, which guides the PCAOB’s operations and serves as the foundation of the budget, … Continue reading
Monthly Archives: November 2019
Going Concern Modifications in Europe
A going concern modification is the expressed uncertainty that a company is unable to continue in the near future. Generally speaking, this uncertainty relates to whether the company will exist for another 12 months. Audit Analytics recently started collecting going … Continue reading
Under Armour Under Fire for Undisclosed Investigations
An expanded version of this article was first available through Accounting Quality Insights, powered by Audit Analytics, via Bloomberg, Refinitiv Eikon, FactSet and S&P Global. Contact us for the full article. On November 4, 2019, the Wall Street Journal (WSJ) published an … Continue reading
Benford’s Law as a Quality of Reporting Indicator
There are several different tools and mathematical formulas that can be utilized to determine the strength of a company’s financial statements. One of the most intriguing and useful tools to detect accounting irregularities is the mathematical formula Benford’s Law – … Continue reading
An Overview of KAMs in the European Banking Sector
Accountancy Europe has performed its second annual survey on the auditor’s reporting of key audit matters (KAMs) in the European banking sector since KAMs became required by EU law and international standards in 2017. One of the main goals of … Continue reading
More to Discover with CAMs
Audit Analytics’ new Critical Audit Matters (CAMs) database makes it easier than ever to search, track, analyze, and understand CAMs. A CAM is any matter that the auditor communicated or was required to communicate to the company’s audit committee, and … Continue reading
What Investors Need to Know About Audits
On Monday, November 4, 2019, the CFA Society of New York hosted What Investors Need to Know About Audits, a forum that focused on the state of today’s audit process, how it has and continues to change over time, and … Continue reading