Critical Audit Matters provide the opportunity for auditors to explain their view of the risks and financial implications of climate change and ESG. According to an AASB report, potential implications often arise from (but are not limited to) assumptions and … Continue reading
Category Archives: Accounting + Oversight
2023 Audit Committee Transparency Barometer
Over the last 10 years, the Center for Audit Quality (CAQ) has worked with Ideagen Audit Analytics to create an annual Audit Committee Transparency Barometer. The Barometer measures year-over-year comparison of disclosures for S&P 500, S&P MidCap, and S&P SmallCap … Continue reading
Impending SEC Cybersecurity Rules: What Lies Ahead for Tech Titans
The SEC’s new rule on cybersecurity has finally been issued. As I sit here pondering what it means, I keep reflecting on a conversation a colleague and I once had about Microsoft. The final decision to disclose cybersecurity breaches will … Continue reading
A Closer Look at Shareholder Votes Against Auditor Ratification – 2022
Among a variety of proposals, shareholder votes on auditor ratification remains a topic year-over-year during proxy season. The auditor ratification vote organized during the annual general meeting provides shareholders an opportunity to express their opinion about the external auditor of … Continue reading
Reviewing SEC Accounting and Auditing Enforcement Activities
The Division of Enforcement within the U.S. Securities and Exchange Commission “is responsible for detecting and investigating a wide range of potential violations of the federal securities laws and regulations”. The SECs oversight gives them the authority to respond to … Continue reading
A Closer Look at Shareholder Votes Against Auditor Ratification – 2021
During proxy season, shareholders vote on a variety of proposals to be accepted or rejected. ESG proposals have garnered increased attention in recent years. But one proposal remains a constant decision for shareholders year-over-year: Should the auditor of record be … Continue reading
Adjustments Continue to Decline in 2021
Adjustments to financial statements – known as out-of-period adjustments – fell to a low of just 114 during 2021. This fall represents a 17% decline from 2020 and is part of a broader fall seen since 2016. Out-of-period adjustments are … Continue reading