The amount of non-audit fees a public company pays to their independent outside audit firm has once again come into sharp focus. The SEC considers high non-audit fees to be an auditor independence concern. If an auditor earns a large … Continue reading
Category Archives: Accounting + Oversight
Climate Change in Audit Matters
The effects of climate change, and the accompanying disclosures, have risen to the forefront of the conversation for public companies. For example, in the US, the SEC has begun issuing climate-change-related comment letters. There are a variety of impacts that … Continue reading
Audit Firm Merger: BKD and Dixon Hughes Goodman
On February 17, 2022, national accounting firms BKD and Dixon Hughes Goodman announced their practices were merging. As of 2021, both are Top 20 firms, according to Accounting Today. The newly combined firm will see a growth in market share … Continue reading
PCAOB Inspection Reports for Annually Inspected Firms
On February 2nd, the PCAOB released the 2020 inspection reports of RSM, Crowe, Marcum, Cohen & Co, and Moss Adams. These reports completed the release of 2020 inspection reports for annually inspected firms. The Big 4, BDO, and Grant Thornton’s … Continue reading
Top SPAC Auditors Growing Market Share Through Acquisition
The top two auditors of SPACs, Marcum and Withum, are growing their businesses through firm acquisitions. Marcum and RotenbergMeril On February 1, 2022, Marcum announced that New Jersey-based firm RotenbergMeril will be joining the firm. The addition of this firm … Continue reading
2020 Out of Period Adjustments: A 10-Year Review
Many times, people overlook out of period adjustments. Adjustments are a method of correcting errors in which prior periods are not revised or restated, and the error is corrected in the current period. However, one is only allowed to use … 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