With the ongoing developments regarding the coronavirus (COVID-19) pandemic and its effects on financial markets and financial reporting, Audit Analytics is monitoring important disclosures from public companies that reference the illness and the associated impacts. This includes companies that are … Continue reading
Category Archives: SEC
SEC Provides Relief for Registrants Affected by Coronavirus
On Wednesday, March 4th, the US Securities and Exchange Commission (SEC) announced that it is providing conditional regulatory relief for publicly traded companies facing challenges from the impact of the coronavirus. The effects of COVID-19 may present challenges for certain … Continue reading
Brown-Forman Changes Auditor After 87 Years
On February 19th, the Audit Committee of Brown-Forman Corporation [BF.B] – the production and distribution company known for alcoholic beverages including Jack Daniel’s, Chambord, and Korbel – dismissed PwC, ending its 87-year tenure with the Big Four auditor. According to … Continue reading
Expected Filing Season Trends, including Coronavirus Disclosures
Two-thirds of the yearly 10-Ks were filed between February and March last year, which should come as no surprise considering the majority of companies have fiscal years ending in December. Therefore, it’s no wonder the coming months are exceptionally busy … Continue reading
Changes to Auditor Independence Regulations: US vs. UK
Regulators in both the U.S. and the U.K. have recently debated changes to rules regarding auditor independence, with one big difference. In the U.S., the Securities and Exchange Commission (SEC) has proposed further loosening of auditor independence rules, while in … Continue reading
Trends in SEC Non-GAAP Comment Letters 2016-2018
Key Findings The overall number of comment letters issued by the SEC has decreased since 2010 The percentage of comment letters referencing a non-GAAP metric increased through 2017, but has been trending downward in the first 6 months of 2018 … Continue reading
Audit Analytics for Regional Accounting Firms
Frazier & Deeter LLC is a full-service accounting firm, headquartered in Atlanta, Georgia. Operating across all industries, Frazier & Deeter offers a wide range of tax, audit, accounting and advisory services. Bill Godshall is the lead quality control Partner for … Continue reading