Trendy topics come and go, and the financial reporting industry is no exception. Lately, the trending topic in financial reporting has been the use of non-GAAP metrics. Non-GAAP got a new spin after SEC Chairman Mary Jo White in her … Continue reading
Author Archives: Derryck Coleman
Yamana Gold Discloses Fees for ESG Assurance
Last week, Yamana Gold reported CAD$74,000 of ‘Other Audit Fees’. Normally this would not catch our (or anyone’s) eye, but in this case the other audit fees related “primarily to assurance on the Company’s Conflict-Free Gold Report.” As far as we … Continue reading
Apple Leading the Way on Conflict Minerals
Apple Inc. released its third Conflict Minerals Report yesterday, in which they disclosed reaching a significant milestone. 100% of their 242 identified smelters and refiners are now participating in “independent third party conflict mineral audit programs”. This shows rapid improvement over the … Continue reading
Non-GAAP Déjà Vu
As our analysts monitor Non-Timely filings, we sometimes get the sense that we’ve heard something before, like a tune stuck in your head that you can’t quite name. Early this week, we read an unusual NT-10-K from OM Asset Management stating that the company had to … Continue reading
Adopting the Spot-Rate in Pension Accounting
A wave of change appears to be forming in the arcane area of pension accounting. About a year ago, AT&T made a change to the way it calculates the present value of future pension obligations. Typically, companies used the “weighted-average” method … Continue reading
Cybersecurity Disclosures in Risk Factors
Cybersecurity has become a staple item within the Risk Factors section for the vast majority of public companies. In 2015, over 88% of Russell 3000 companies disclosed cybersecurity as a risk. In addition, over two percent of companies that disclosed cybersecurity … Continue reading
SEC Staff Addresses Developments in Pension Accounting
At last week’s AICPA Conference on Current SEC and PCAOB Developments, the topic of pension accounting came up more than once. In one session, Ashley Wright, a Professional Accounting Fellow in the SEC’s Office of the Chief Accountant, discussed a recent … Continue reading