Equifax [EFX] is the latest casualty of a massive data breach. Equifax recently disclosed that a cybersecurity incident may have affected 143 million U.S. consumers. According to Equifax, the incident occurred between May and July 2017. The breached information included names, … Continue reading
Category Archives: Corporate Governance
Consequences of Yahoo Data Breaches Continue
The implications of Yahoo’s (YHOO) data breaches continue to unravel. Last Wednesday, Yahoo filed its fiscal 2016 Annual Report, in which management made a number of significant disclosures related to the cyber security incidents. In particular, they discussed changes to their agreement to … Continue reading
Data Breaches Have Big Cost for Yahoo in Verizon Deal
Cyber attacks have almost become an expectation of 21st century business. From denials of service and data theft to viruses and ransomware, it seems to be simply a matter of time before a company is assailed. Some experts predict that … Continue reading
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
2016 Audit Committee Transparency Barometer
On Tuesday, the Center for Audit Quality released its third annual Audit Committee Transparency Barometer. Compiled and published in partnership with Audit Analytics, the Barometer evaluates the extent of audit committee disclosures for the S&P 1500 Composite companies, broken out … Continue reading
New Tool for Law Firm Market Intelligence
Audit Analytics recently introduced a new field designed to answer the question “who counsels who”. On our Company Profile pages, we now show which law firm most recently represented the given company. In addition to showing the outside counsel on the overview section … Continue reading