BF Borgers led the way this year gaining 39 new SEC clients and netting 25. Grant Thornton was second gaining 29 new clients and netting 18. And Deloitte was third adding 33 new clients and netting 13. BF Borgers’ led with … Continue reading
2020 Non-Audit Fees Among S&P 500 Companies
The amount of non-audit fees a public company pays to their independent outside audit firm has once again come into sharp focus. The SEC considers high non-audit fees to be an auditor independence concern. If an auditor earns a large … Continue reading
Going Concern Trends in the British Isles
London Stock Exchange Going concern opinions (GCO) grew rapidly among companies headquartered in the British Isles during FY2019. The COVID-19 pandemic drove the increase. The UK audit regulator, the Financial Reporting Council (FRC), issued a Bulletin in March 2020 concerning … Continue reading
Climate Change in Audit Matters
The effects of climate change, and the accompanying disclosures, have risen to the forefront of the conversation for public companies. For example, in the US, the SEC has begun issuing climate-change-related comment letters. There are a variety of impacts that … Continue reading
Going Concern Trends in Canada
More than half of Canadian companies received a going concern opinion (GCO) in 2020. Canada’s CAS 570, which requires the auditor to assess and report on management’s use of the going concern assumption, became effective for periods ending on or … Continue reading
Going Concerns: A 21-Year Review
In our latest report, Going Concerns: A Twenty-One Year Review, we examine the trends and statistics of going concerns (opinions qualified by an uncertainty regarding the going concern assumption) filed with the Securities and Exchange Commission since 2000. Using data from … Continue reading
The SEC Focuses on Climate Change in Latest Round of Comment Letters
In the past couple of weeks, the SEC began releasing their first round of climate change-related comment letters to the public. These letters should be used as a template for reviewing current disclosures and assessing whether disclosures should be updated. … Continue reading