Entities, or sponsors, that offer post-employment benefit plans are required by ERISA (the federal Employee Retirement Income Security Act of 1974) to disclose audited financial information to plan beneficiaries. ERISA establishes the minimum standards for employment benefit plans, including pensions, 401(k) … Continue reading
Author Archives: Nicole Hallas
Who Audits Non-Profits
All organizations and entities that receive $750,000 or more in federal funding in a single fiscal period are required to obtain an audit by an independent accountant. This includes an audit of both the institution’s financial statements and the federal award. The provision applies to states, … Continue reading
2020 Financial Restatements Review
Audit Analytics recently released a new report, Financial Restatements: A Twenty-Year Review. This annual report, containing an updated format, takes a closer look at trends in financial restatements, spanning from 2001 to 2020. When looking at restatements, we categorize them … Continue reading
Who Audits Benefit Plans
SEC registrants that offer benefit plans are required to file an annual Form 11-K containing an auditor’s report of the benefit plan’s financial statements. Different from post-employment benefit plans covered by ERISA, 11-K annual reports apply to employee stock purchase, … Continue reading
SOX 404 Disclosures: A Seventeen-Year Review
Audit Analytics recently released a new report, SOX 404 Disclosures: A Seventeen-Year Review. This annual report, containing an updated format, takes a closer look at trends in internal controls over financial reporting (ICFR) disclosures, spanning from 2004 to 2020. Section … Continue reading
Who Audits Public Companies – Germany 2020
This post is a part of Audit Analytics’ series on audit market concentration across select countries in Europe. For fiscal year 2020, 10 accounting firms shared Germany’s audit market of the top companies comprising the DAX 40, MDAX 50, and … Continue reading
AQRM Red Flags: Shareholder Activism
The Audit Analytics Accounting Quality + Risk Matrix (AQRM) makes it easy to identify accounting, audit, and governance red flags for public companies. This blog series breaks down the risks associated with specific firm-level events included in the AQRM. Shareholder activism is the process … Continue reading