An analysis of shareholder votes filed between January 1, 2016, and December 31, 2018, shows that, on average, roughly 98% of votes were cast in favor of auditor ratification. The remaining 2% is comprised of votes against auditor ratification (about … Continue reading
Author Archives: Jessica McKeon
Shutdown Slows Comment Letters, IPOs
On Friday, January 25th, 2019, President Trump signed a bill to reopen the federal government [temporarily] for three weeks, putting an end to the longest government shutdown in U.S. history. The following day, SEC Chairman Jay Clayton released a statement … Continue reading
Sixteen Year Review of Audit Fee and Non-Audit Fee Trends
Audit Analytics has released its annual audit fees report, Sixteen Year Review of Audit Fee and Non-Audit Fee Trends, which focuses on the audit and non-audit fees paid and disclosed by accelerated and large accelerated filers over a sixteen-year period. … Continue reading
Can Tenure Requirement Provide Insight into Engagement Partner Rotation?
Who audits public companies? This question is continuously of interest to investors, audit firms and academics alike. Firm-level information is, and always has been, available from the audit opinions included in the annual reports. However, until recently, information regarding engagement … Continue reading
A Look Back at 2018
As 2018 comes to an end, let’s look back at some of our top posts and topics we’ve covered this year. Quarterly Updates The following posts are updated each quarter: IPOs: Auditor Market Share and Stats Auditor Changes Annual Updates … Continue reading
A Look at Top SEC Comment Letter Issues in 2018
The number of SEC comment letters has been declining for nine consecutive years. During the first nine months of 2018, 2,174 letters were filed1 (831 CORRESPs and 1,343 UPLOADs) – a decrease of 40% from the 3,629 letters that were … Continue reading
PCAOB Announces 2018-2022 Strategic Plan
On November 15th, the Public Company Accounting Oversight Board approved its 2018-2022 Strategic Plan. “The Board’s adoption of the strategic plan and accompanying budget paves the way for fulfilling our shared vision for the PCAOB,” said PCAOB Chairman William D. Duhnke. … Continue reading