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
Category Archives: Regulation Oversight
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
Slow Adoption Progress of ASC 842 – Leases
Note: This article was first available to subscribers of Accounting Quality Insights by Audit Analytics on Bloomberg, Eikon, FactSet, and S&P Global. Now that the new lease accounting standard ASC 842 is effective, we see that public companies are progressing … Continue reading
What Caused SEC Investigation for Healthcare Services Group, Inc.?
Note – This article has been updated to clarify the following: In the notification of late filing for their 2018 annual report, Healthcare Services Group disclosed the receipt of an SEC subpoena, after nearly 18 months of investigation. Previously, the … Continue reading
Implementation of AS 3101
In our recent post, Reasons for an Amended 10-K: 2018, we noted an increase in the number of 10-K/As that were filed citing an auditor’s report as the reason. One possible explanation is the implementation of PCAOB Auditing Standard 3101 … Continue reading