In 2019, 6.3% of SOX 404 auditor attestations disclosed ineffective internal controls over financial reporting (ICFR) – significantly less than the 38.8% of management assessments that disclosed ineffective ICFR. The consistent level – around 39% – since 2013 indicates that … Continue reading
Monthly Archives: September 2020
IAASB Approves New Audit Quality Standards
The quality of audits has come into question from international regulators after a series of high-profile accounting scandals, with the most recent being Wirecard. Last week, the International Auditing and Assurance Standards Board (IAASB) approved a new and revised set … Continue reading
Leveraging the European Restatements Database
Audit Analytics recently released the European Financial Restatements database, filling a void in stakeholders’ ability to easily analyze restatements in context of the overall global market. The database contains 350 restatements from nearly 300 public companies listed on regulated exchanges … Continue reading
Who Audits Public Companies – Market Share in France
Who audits public companies? This analysis takes a look at the auditor market share among companies listed on France’s top indexes in 2019. Continue reading
Audit Analytics for Transfer Agents
Continental Stock Transfer & Trust, the largest U.S. owned transfer agent, provides shareholder related recordkeeping services to 1,250 public and private companies and cross-border agent services to 100 global issuers. We spoke with Karri Van Dell, Vice President of Continental … Continue reading
Internal Control Weaknesses Following an IPO
Private companies must undertake certain regulatory obligations in order to conduct an Initial Public Offering (IPO). In addition to preparing financial statements and complying with appropriate accounting standards, a company considering going public must also assess their system of Internal … Continue reading
An Overview of European Financial Restatements
There have been nearly 500 financial restatements disclosed by roughly 400 companies listed on exchanges in the EEA, UK, and Switzerland since January 1, 2018. Continue reading