On April 29, the SEC’s Enforcement Division announced charges against eight companies for failure to disclose complete information in Form NT (non-timely). The companies delayed issuing financial statements due, at least in part, to errors in previously issued financial statements, … Continue reading
Monthly Archives: April 2021
Importance of Internal Controls for Cybersecurity
The greater use of computer technologies to conduct business increases the risk of cybersecurity incidents and data incidents at public companies. To minimize the possibility of exposures, it is necessary for both corporations and auditors to have an understanding of … Continue reading
Q1 2021 IPOs: Auditor Market Share and Stats
There were 407 initial public offerings in U.S. markets between January 1, 2021, and March 31, 2021; groundbreaking for any quarter since at least 2000. Together, these 407 IPOs raised over $134.6 billion – an increase of over $124 billion … Continue reading
Auditor Changes in Canada: 2020
Note: All amounts stated are in Canadian dollars In 2020, Canadian auditor departures decreased by 31.9%, with 230 departures observed throughout the year, compared to 338 departures seen in 2019. The percentage of resignations saw a break in the trend, with … Continue reading
Audit Analytics Attends AACSB’s ICAM 2021
Last week, Audit Analytics had the pleasure of attending the International Conference and Annual Meeting (ICAM) 2021, hosted by the Association to Advance Collegiate Schools of Business (AACSB). As defined by the AACSB, “the International Conference and Annual Meeting (ICAM) is AACSB’s … Continue reading
Reasons for an Amended 10-K: 2020
Form 10-K, an annual report filed by US-based public registrants, is the most comprehensive source of information regarding a company’s financials and its underlying business. These reports are thoroughly scrutinized by investors and other users, which explains why they need … Continue reading
Audit Analytics Releases Third Annual Cybersecurity Report
Audit Analytics released its third annual Trends in Cybersecurity Breaches report last week. This report delves into trends in public company disclosures of cyber breaches since 2011. The analysis, covering 2011 through 2020, examines a full decade worth of data. … Continue reading