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Category: Accounting

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Thorny Tax Developments Await U.S. Companies

Thistle flower with thorny stem

Back in October 2021, more than 130 member jurisdictions of the Organisation for Economic Co-Operation and Development negotiated the framework for new international tax rules affecting multinational companies. Rather than using the tax rat...

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First Inspections Find Massive Holes in Chinese Audits

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Regulators have released the results of their first inspections of audits of U.S.-listed Chinese companies, and they’re not pretty. Analyses revealed “unacceptable deficiencies” in audits performed by KPMG’s Chinese arm and PricewaterhouseC...

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Fallout From Accounting Class Actions Could Extend Beyond Issuers

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Although we have ample evidence to the contrary, the idea of an accounting scandal seems strange because it is hard to imagine accountants engaging in scandalous behavior. We picture accountants as meticulous bean counters – hardly the type...

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FASB Issues Proposed Update for Crypto Accounting

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When it comes to regulating cryptocurrency, the federal government for roughly a decade has taken the de facto position of kicking the can down the road. Even though the task of defining what crypto is has flummoxed regulators, that hasn’t...

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Intelligize Data: Large Filers Struggling with Internal Controls After Going Public

Dome of the U.S. Capitol building, where Sarbanes Oxley was drafted

It has been more than 20 years since Congress passed the Sarbanes-Oxley Act in response to a rash of turn-of-the-century accounting scandals. But unlike those choker necklaces and Nickelback CDs you’re holding onto from the era, SOX remains...

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