Risk of Internal Controls Failures

Companies are required to maintain and assess the effectiveness of Internal Controls over Financial Reporting (ICFR). Accelerated Filers are required to provide an audit report on the effectiveness of ICFR. For Non-Accelerated Filers, only a management assessment is required. The … Continue reading

EBay Reports Material Weakness: Second Control Deficiency in Three Years

Last week on February 6, in its Fiscal 2016 10-K, eBay (EBAY) disclosed a material weakness in its internal controls over financial reporting (“ICFR“). The deficiency related to a failure to properly apply tax accounting and affected the Deferred Tax Asset and Income Tax Benefit … Continue reading

Accountants’ Liability 2016 Conference Overview

At this year’s annual Accountants’ Liability conference held in Washington, D.C., Audit Analytics’ CEO, Mark Cheffers, together with Robert Kueppers, former Vice Chairman at Deloitte, presented a comprehensive update on liability exposure issues faced by the accounting industry. Topics covered in their presentation included large … Continue reading