On April 22, 2020, L Brands, Inc. [NYSE: LB] announced that Sycamore Partners, a private equity firm, delivered a notice that same day purporting to terminate the transaction agreement relating to the sale of a 55% interest in Victoria’s Secret … Continue reading
Author Archives: Jessica McKeon
SEC and PCAOB Offer Further COVID-19 Guidance
As we enter another week of uncertainty surrounding COVID-19 and its unquantifiable impacts, it’s becoming increasingly evident that no one knows what to expect. This is especially true for companies and businesses, as well as auditors. Fortunately, U.S. regulatory authorities … Continue reading
Coronavirus Slows UK Audit Opinions
On Tuesday, March 31, Quixant PLC – a UK-based gaming technology company – issued the following statement, claiming that KPMG LLP (UK) has decided to not sign any audit opinions or consents until April 5th: Quixant (AIM: QXT), a leading … Continue reading
Auditor Independence- What’s Changing?
We covered auditor independence in a recent post and decided to take a closer look at what has changed among the rules in the US. In June 2019, the SEC adopted amendments to its auditor independence rules – which took … Continue reading
Coronavirus Continues to Impact Financial Reporting
Last week, Audit Analytics posted two analyses looking at the effects of coronavirus we have seen on financial reporting across the US, Canada, and Europe. Coming as no surprise, we have more updates on important disclosures from public companies that … Continue reading
An Updated Overview of CAMs
Critical audit matters (CAMs), as required by AS 3101, took effect for audits of large accelerated filers with fiscal years ending on or after June 30, 2019. The majority of large accelerated filers have fiscal years ending on December 31, … Continue reading
SEC Provides Relief for Registrants Affected by Coronavirus
On Wednesday, March 4th, the US Securities and Exchange Commission (SEC) announced that it is providing conditional regulatory relief for publicly traded companies facing challenges from the impact of the coronavirus. The effects of COVID-19 may present challenges for certain … Continue reading