Earlier this week, the Financial Conduct Authority (FCA) and the Financial Reporting Council (FRC) reminded companies in the UK that the permission to delay publication of financial reports is still in effect. The initial joint statement was issued in the early days of the lockdown in the UK on 26 March … Continue reading
Monthly Archives: January 2021
Who Audits Mutual Funds – An Overview
Mutual funds are often seen as a safer, more predictable method of investing in the capital markets. Warren Buffet, the legendary investor and one of the world’s richest men, consistently espouses the benefits of investing in “an S&P 500 low-cost … Continue reading
ExxonMobil, Impairments, and the SEC
On November 24, 2020, ExxonMobil Corporation [NYSE: XOM] issued a press release indicating that the company no longer plans to develop portions of its dry gas portfolio, resulting in after-tax impairments of $17-20 billion. Like its competitors, a portion of … Continue reading
Risk of Pledged Securities for Public Companies
Pledged securities – shares of a public company that are pledged by their owner as collateral – present a potentially serious risk to a company’s governance and share price. When a major owner of a company pledges their shares, it exposes the company … Continue reading
Q4 2020 IPOs: Auditor Market Share and Stats
Overview There were an unprecedented 210 initial public offerings in U.S. markets between October 1, 2020, and December 31, 2020. Together, these 210 IPOs raised over $65 billion, an increase of over $56 billion from the same period last year and an increase … Continue reading
Audit Opinion Types Available in Our Europe Database
The audit opinion is particularly important to stakeholders, as it provides insight into whether the financial statements are true and reliable for decision making. When an opinion is issued, auditors generally include an explanation for their decision. Because most opinions … Continue reading
BDO Acquires MBAF
Recently, BDO USA LLP announced the acquisition of Florida-based MBAF LLC. This merger is significant, as MBAF is currently the 38th largest accounting firm in the US and the largest in South Florida. MBAF is one of the largest Hispanic-owned … Continue reading