As 2020 comes to a close, many public companies are gearing up for fiscal year ends and preparing annual financial statements. Particularly important this year is determining how to disclose pertinent information about COVID-19 in annual reports. Given the widespread disruption on regular operations, a disclosure of … Continue reading
Author Archives: Nicole Hallas
Auditor Changes Roundup: Q3 2020
Cohen & Company, Grant Thornton, and Marcum, each with a net of three new SEC audit clients, account for the most SEC audit clients gained among all firms in Q3 2020. As mentioned in Accounting Today, EY had the most … Continue reading
COVID-19 Lawsuits Continue to Pose Ongoing Risk
As the COVID-19 pandemic wears on and 2020 nears its end, one thing is abundantly clear: the vast, unprecedented impacts of the pandemic are going to be a part of the conversation moving forward. This conversation will be perpetuated by … Continue reading
COVID-19 Litigation Continues To Be Filed by Consumers and Employees
Since the start of the pandemic, Audit Analytics has identified over 120 instances of COVID-19 litigation. These include lawsuits that are filed directly referencing circumstances that would not otherwise exist outside of the coronavirus pandemic. There are a wide array … Continue reading
Change in Accounting Estimate Boosts Microsoft’s Q1 2021 Gross Margin
Tech giant Microsoft [Nasdaq: MSFT] announced its first quarter 2021 results on October 27, 2020. Growth in Microsoft’s gross margin and operating income was driven by a change in accounting estimate for the useful lives of server and network equipment. … Continue reading
Audit Analytics for Transfer Agents
Continental Stock Transfer & Trust, the largest U.S. owned transfer agent, provides shareholder related recordkeeping services to 1,250 public and private companies and cross-border agent services to 100 global issuers. We spoke with Karri Van Dell, Vice President of Continental … Continue reading
Internal Control Weaknesses Following an IPO
Private companies must undertake certain regulatory obligations in order to conduct an Initial Public Offering (IPO). In addition to preparing financial statements and complying with appropriate accounting standards, a company considering going public must also assess their system of Internal … Continue reading