Audit Analytics recently released our annual report on going concern opinions, which looks at trends over the past fourteen years. This year the initial results appear positive because they show a drop in both the number and percentage of going concerns. … Continue reading
Author Archives: Brendan Hannen
Audit Fees and Non-Audit Fees: A Thirteen Year Trend
Audit Analytics recently released its annual report covering audit and non-audit fees of SEC accelerated filers. The report is available free to subscribers or for purchase to non-subscribers. In the report, we studied the audit and non-audit fees paid by accelerated filers … Continue reading
CEO and CFO Departures: A Ten Year Review
In response to Section 409 of the Sarbanes-Oxley Act related to “Real Time Issuer Disclosures,” the SEC began requiring all 10-K filers to disclose within four business days any personnel changes affecting the company’s directors and officers. This disclosure requirement became effective on … Continue reading
Litigation Data Reveals Lumber Liquidators Issues
Last Sunday night, “60 Minutes” on CBS raised some serious concerns about Lumber Liquidators (LL) products, linking them to possible health and safety violations. Trading of LL stock was halted for two hours the following morning, and ultimately ended the day down 25%. Lumber … Continue reading
Severe Auditor Change Disclosure Dooms ADES
When a company changes its auditor, it’s usually an important event. Even when it happens for routine reasons, a change in auditor presents many issues and challenges. How will the new audit team integrate? Will they turn up anything that … Continue reading
2014 Going Concerns Report: A Fourteen Year Review
With the release of our 2014 Going Concerns Report, we add yet another year of data to what is now a fourteen-year review. The data shows that the number of audit opinions containing modifications related to uncertainty about a company’s … Continue reading
US Company Tax Issues On The Rise
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Burger King grabbed headlines a while back when it announced it will be joining with the iconic Canadian chain Tim Hortons and moving its headquarters to the north. Burger King has long been a staple in the American tradition of … Continue reading