Now in its seventh year of publication, the Audit Committee Transparency Barometer, released by the Center for Audit Quality (CAQ), continues to provide investors with unique insight into the disclosures made by audit committees in proxy statements each year since … Continue reading
Category Archives: Coronavirus
COVID-19 Impacts on European Audit Opinions
This post will be updated to reflect the current number of filings citing the COVID-19 pandemic in a going concern opinion, key audit matter, or emphasis of matter. Overall Statistics As of the week ended 18 September 2020, Audit Analytics … 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
An Overview of KAMs – 2019
Since our last analysis of key audit matters in December 2019, the Audit Analytics KAMs database has grown to include over 40,000 KAMs from the audit opinions of over 4,600 companies. KAMs, required under ISA 701 for fiscal years ending … Continue reading
Audit Opinions with Going Concern Modification Referencing COVID-19
As of July 13 2020, there have been 42 audit opinions for SEC-registered public companies that have cited the COVID-19 pandemic as a contributing factor to substantial doubt about a company’s ability to continue as a going concern for the … Continue reading
Trends in SEC Bankruptcy Filings Related to Oil Prices
The sharp decline in oil prices at the beginning of 2020 amidst the COVID-19 pandemic has led to increased speculation about the state of the economy and potential impacts on the financial health of public companies. The collapse of oil … Continue reading
SEC Eyes Impairment Testing in Comment Letter Amid Pandemic
Last week, the Securities and Exchange Commission (SEC) released a comment letter to Carlisle Companies Incorporated [CSL] – a global diversified manufacturing company – asking the Company to expand on its disclosure regarding impairment testing in Q1 2020. Carlisle’s annual … Continue reading