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
Author Archives: Nicole Hallas
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
Assessing Impacts of COVID-19 in Disclosure Controls
As the COVID-19 pandemic continues to sow chaos and disruption, SEC registrants need to evaluate the impact of the pandemic related to multiple aspects of financial reporting, including the quality of disclosures. Audit Analytics has discussed some of the tangible … Continue reading
Error Corrections: A Look at Adjustment and Restatement Trends
At times, errors may arise when issuing financial statements. When such an error is identified, a correction must be made. The scope and nature of these corrections dictate a company’s next steps and may provide useful information into financial reporting … Continue reading
Auditor Tenure by Revenue
Looking at auditor tenure as a whole across a population of 4,356 SEC registrants, 49.2% have engaged an audit firm for less than 10 years, while 4.9% have engaged an auditor for 50 years or more. A very small portion … Continue reading