The annual Audit Analytics report on financial restatement trends is now available. This report provides a detailed analysis and comparison of trends in financial restatements over an eighteen-year period. When looking at restatements, we categorize them by two levels: reissuance restatements and revision restatements. Reissuance restatements, sometimes … Continue reading
Category Archives: Regulation Oversight
Accounting and Auditing Enforcement Releases (AAERs): Q1 and Q2 of 2019
An extended version of this article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Refinitiv Eikon, FactSet, and S&P Global. The Securities and Exchange Commission (SEC) provides a list of certain enforcement actions related … Continue reading
Pros and Cons of Using Non-GAAP Metrics for Executive Compensation, Including ESG Considerations
This article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. There has been considerable debate about companies that use non-GAAP metrics for executive compensation and whether these firms are … Continue reading
ICFR Weakness as a Risk Factor – Similarities in Companies with Ineffective Controls
Note: A version of this article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. Recently we reviewed four companies fined by the Securities and Exchange Commission on January 29, 2019, … Continue reading
Could SEC Charges Have Been Predicted for GT Advanced Technologies?
Note: This article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. Key Points: SEC fined former CEO of GT Advanced Technologies (GTAT) over $140,000 in connection with making false … Continue reading
CMA Releases Final Report on the Statutory Audit Market
Last week, the Competition & Markets Authority (CMA) released its final report, concluding its investigation into the UK audit market. The report recommended some major reforms “to address serious competition problems in the UK audit industry”. The study, which was … Continue reading
Auditor Changes and Audit Fees in Italy
Eleven out of the 100 companies listed on the FTSE MIB and the FTSE Italia Midcap changed their auditors from 2016 to 2017, and seven of those companies saw their audit fees decrease. The transposition of the European Audit Reform … Continue reading