Note: This post has been updated to reflect auditor changes not previously included in this analysis, specifically relating to the DAX 30. There are 12 accounting firms that audit Germany’s top 160 companies. Perhaps coming as no surprise, the Big … Continue reading
Monthly Archives: August 2020
Error Corrections: A Look at Adjustment and Restatement Trends
At times, errors may arise when issuing financial statements. When such an error is identified, a correction must be made. The scope and nature of these corrections dictate a company’s next steps and may provide useful information into financial reporting … Continue reading
Market Concentration of PIEs – An Analysis of Transparency Report Data
According to Article 13 of the Audit Regulation of 2014 (Regulation EU 537/2014), a statutory auditor of a public interest entity (PIE) must publish an annual transparency report on the firm’s website, at the latest four months after the end … Continue reading
Auditor Tenure by Revenue
Looking at auditor tenure as a whole across a population of 4,356 SEC registrants, 49.2% have engaged an audit firm for less than 10 years, while 4.9% have engaged an auditor for 50 years or more. A very small portion … Continue reading
SEC Comment Letters: A Nine Year Trend
A review of SEC comment letters on forms 10-K, 10-Q, and 8-K shows that the trend of comment letters has continued to decline. Between 2018 and 2019, the number of comment letters fell by roughly 30%; similarly, between 2017 and 2018, there … Continue reading
Academic Literature Review: “Does Advertising Improve Access to Capital for Small Businesses? – Evidence from the JOBS Act”
In this first decade since the beginning of the social media revolution, there have been numerous changes to society in many realms. From commerce to politics and the financial industry amongst them, using this new medium is an innovative approach … Continue reading
An Overview of KAMs – 2019
Since our last analysis of key audit matters in December 2019, the Audit Analytics KAMs database has grown to include over 40,000 KAMs from the audit opinions of over 4,600 companies. KAMs, required under ISA 701 for fiscal years ending … Continue reading