The COVID-19 pandemic has had wide-ranging impacts on public company disclosures over the last year. In particular, the pervasive and ongoing uncertainty affecting the global economy contributes to increased subjectivity underlying assumptions and increased challenges in determining estimates for certain … Continue reading
Monthly Archives: March 2021
Auditors Acknowledge Uncertainty for Airlines Amid COVID-19
The auditors of two FTSE 350 airlines cannot confirm whether the companies will be able to continue operating for the foreseeable future due to uncertainty created by the global pandemic. EY and PwC highlighted the unpredictability of the future operations of … Continue reading
Going Concerns – A Twenty-Year Review
In our latest report, Going Concerns: A Twenty- Year Review, we examine the trends and statistics of going concerns (opinions qualified by an uncertainty regarding the going concern assumption) filed with the Securities and Exchange Commission since 2000. Leveraging the Audit … Continue reading
Who Audits Public Companies – United Kingdom
Note: This analysis will be updated to reflect 2020’s market share once all annual reports have been filed. Audit market share was highly concentrated among the top indexes in the United Kingdom at the end of 2019. PwC captured the highest … Continue reading
Accountancy Europe Makes Recommendations to Strengthen Going Concern Reporting
In the past few years, the EU has been hit with several high-profile corporate failures and collapses: Carillion, Thomas Cook, Patisserie Valerie. Corporate failure affects not only the related shareholders, but also the confidence the public has in the sustainability … Continue reading
Auditor Changes Roundup: 2020 Annual Summary
Note: This blog has been updated to reflect a correction in the first table. A previous version displayed gross audit fees won, the updated version shows net audit fees won. Baker Tilly US LLP, with a net of 26 new … Continue reading
Debt Offerings Surged in 2020
Following the uncertainty of COVID-19, many companies took to the debt markets to ensure they could cover short-term obligations and operating expenses. The explosion of debt offerings culminated in the total amount of notes and bonds eclipsing $2 trillion based … Continue reading