A transfer agent is assigned by a corporation with publicly traded securities to track individuals that own their stocks and bonds. Transfer agents have several responsibilities, including managing/maintaining records for investors and making sure these investors receive appropriate payments. Here, … Continue reading
Category Archives: SEC
SEC Enforcement Actions Reveal Continuing Importance of Accurate Disclosures
The SEC recently announced settled charges with Under Armour [NYSE: UAA] related to certain disclosure failures and making misleading statements to investors. The charges were notable, as the SEC enforcement action alleged that Under Armour engaged in manipulative revenue practices … Continue reading
SEC Enforcement Highlights Late Filing Disclosure Risks
On April 29, the SEC’s Enforcement Division announced charges against eight companies for failure to disclose complete information in Form NT (non-timely). The companies delayed issuing financial statements due, at least in part, to errors in previously issued financial statements, … Continue reading
Impacts of COVID-19 on Late Filings
Between fiscal years ended 2015 and 2018, public companies had been improving their ability to deliver timely information; there were 851 late filings issued for fiscal year 2015 and just 638 for fiscal year 2018. However, this trend was reversed … Continue reading
Coronavirus Uncertainties Contribute to Going Concern Uncertainties
As of April 20, 2020, there have been 16 audit opinions on annual reports for SEC filers that have cited the COVID-19 pandemic as a contributing factor to substantial doubt about a company’s ability to continue as a going concern … Continue reading
Coronavirus Continues to Impact Financial Reporting
Last week, Audit Analytics posted two analyses looking at the effects of coronavirus we have seen on financial reporting across the US, Canada, and Europe. Coming as no surprise, we have more updates on important disclosures from public companies that … Continue reading
Accounting and Auditing Enforcement Releases (AAERs): Q3 and Q4 2019
The Securities and Exchange Commission (SEC) provides a list of certain enforcement actions related to financial reporting concerning administrative proceedings and civil lawsuits. These Accounting and Auditing Enforcement Releases (AAERs) are analyzed by Audit Analytics and key data points are … Continue reading