Benjamin Franklin once noted that “in this world nothing can be said to be certain, except death and taxes.” While this maxim is perfectly applicable to mere mortals, public companies, at least in theory, can live on indefinitely. (According to … Continue reading
Category Archives: SEC Comment Letters
Pondering the SEC’s Next Move on Non-GAAP: Thoughts From Audit Analytics & Analyst’s Accounting Observer
Note: This post features a guest contribution from our friend Jack Ciesielski, the publisher of the Analyst’s Accounting Observer. Audit Analytics compiled data on recent SEC comment letters sent to companies regarding their presentation of non-GAAP earnings. Together with our friends at the … Continue reading
Finding & Filing Financial Restatements
While reviewing the results of our recent annual report on financial restatements, we noticed an interesting – although not unexpected – trend. Restatements are most commonly disclosed in the spring. A look through 8-K Item 4.02 Non-Reliance disclosures made between 1/1/11 and 12/31/15 show … Continue reading
Review Notes, Volume 2
With filing season pretty much done and dusted, we can all take a deep breath and relax (for a minute or two). One thing we like to do around here is have a bit of a laugh at some of … Continue reading
Adopting the 2013 COSO Framework: Fiscal 2015 Update
Last year, together with Protiviti, Audit Analytics reviewed the progress of public companies towards adoption of the new 2013 COSO Framework. Data gathered from fiscal 2015 annual reports shows that the implementation of COSO for audited ICFRs is almost complete: 96% of … Continue reading
Conflict Minerals: Corp Fin Taking Notes?
Regulations on “Conflict Minerals”, and the section of the Dodd-Frank Act that gave rise to those rules, have seen a fair amount of controversy over the past two years. In a dramatic move, on August 18, 2015 the US Court of Appeals reaffirmed its … Continue reading
Non-GAAP Déjà Vu
As our analysts monitor Non-Timely filings, we sometimes get the sense that we’ve heard something before, like a tune stuck in your head that you can’t quite name. Early this week, we read an unusual NT-10-K from OM Asset Management stating that the company had to … Continue reading