Tags » PCAOB

EY study shows continued increase in voluntary audit committee disclosures among the Fortune 100

With the SEC now considering whether to approve AS 3101, the PCAOB’s new enhanced disclosure requirement for the auditor’s report (see this PubCo post), and SEC concept releases and other disclosure projects still hovering in the ether, there seems to be a steady march by companies toward inclusion of more supplemental audit committee disclosures on a voluntary basis, according to a  1,340 more words

Securities

Gibson Dunn Updates Securities Litigation for First Half of 2017

The first half of 2017 brought with it a nearly unprecedented rate of new filings (a pace few predicted), as well as several important developments in the securities laws.  10,876 more words

Securities Regulation

Form what? CAQ offers help for audit committees in understanding and using Form AP

Remember Form AP? That’s the form that the PCAOB is now requiring audit firms to use to name individual audit engagement partners. The form will also disclose the names and Firm IDs, locations and extent of participation of any other accounting firms, outside of the principal auditor, that participated in the audit, if their work constituted 5% or more of the total audit hours.  1,027 more words

Securities

PCAOB Adopts New Audit Report-Should Be Interesting-Still Has To Be Adopted By The SEC

The following is a link to the PCAOB website page discussing the PCAOB’s June 2017 adoption of a new audit report which in part requires the disclosure of critical audit matters (CAM) for certain audits conducted under PCAOB standards. 357 more words

The CAMs are coming: PCAOB adopts new standard to enhance audit reports

by Cydney Posner

Yesterday, as anticipated, the PCAOB adopted, subject to SEC approval, a new auditing standard for the auditor’s report that, while retaining the usual pass/fail opinion, will require auditors to include a discussion of “critical audit matters,” that is, “matters communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements; and (2) involved especially challenging, subjective, or complex auditor judgment.” The new CAM disclosure requirement will apply (with some exceptions) to audits conducted under PCAOB standards, including audits of smaller reporting companies and non-accelerated filers (although at a later phase-in date), but will not apply to emerging growth companies. 2,612 more words

Securities

Case 15.3 Free Enterprise Fund v. Public Company Accounting Oversight Board

Read “Case 15.3 Free Enterprise Fund v. Public Company Accounting Oversight Board” in Ch. 15 of the text.

Write a paper of 700- to 1,050-words in which you answer the following: 80 more words

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The Legacy of the Sarbanes-Oxley Act, 15 Years On

What does Sarbanes-Oxley mean? That’s when two members of U.S. Congress fiddle and half a million accountants in Europe start dancing.”[1]

President Donald Trump pledged during his electoral campaign to repeal some of the reforms that came about after the 2008 financial crisis, including the Dodd-Frank Act of 2010… 2,117 more words

The Dodd-Frank Act