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Tag: Financial Reporting

5 blocks on a table each with a different icon (from left to right): 3 books, clip-board to-do list, stick figure as a scale, magnifying glass, and a square with gears and a checkmark. Fingers go to pick up the block with the magnifying glass icon

No CAM Do: Fewer Critical Audit Matters Appearing in Reports

5 blocks on a table each with a different icon (from left to right): 3 books, clip-board to-do list, stick figure as a scale, magnifying glass, and a square with gears and a checkmark. Fingers go to pick up the block with the magnifying glass icon

Auditors are identifying fewer critical audit matters in the typical audit report, according to an analysis from the Public Company Accounting Oversight Board. At the same time, PCAOB also found that the number of audit reports communicatin...

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Courts, SEC Offer Guidance on Subject of Materiality

The concept of materiality in securities law has always been intentionally vague. Information that some nebulous “reasonable investor” would consider important leaves ample room for interpretation. Nevertheless, as the Securities and Exchan...

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Fog of War in Russia Impairs Visibility into Companies’ Finances

Hundreds of multinational corporations have ceased doing business in Russia in the weeks since President Vladimir Putin ordered the invasion of neighboring Ukraine in February. While the withdrawal en masse of major business interests stand...

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The State of COVID-19 Disclosure, Part I: Debt Covenants

It’s coming from celebrities. It’s coming from aunt Sally’s Facebook feed. It’s even coming from heads of state. Misinformation is one of the biggest obstacles in the fight against COVID-19, and it seems to be coming from everywhere. But if...

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Five Key Considerations for Audit Committees During the Pandemic

Five Key Considerations for Audit Committees During the Pandemic

Five Key Considerations for Audit Committees During the Pandemic

The pandemic has everyone rethinking how they do things, whether it be personal greetings, grocery shopping, organized sports—or, in the case of audit committees, financial oversight. In January, we examined five items that the SEC wanted o...

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