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Earnings and Accounting

Study: Naming Audit Partners Boosts Audit Quality, Fees

Tammy Whitehouse February 22, 2012

A new study finds that naming the audit partner in an external auditor's report generally leads to better audits, but also drives up audit fees. The conclusions, by two management professors, are based on an analysis of how audits changed after Britain enacted a "signing provision." They found increases in three different measures of audit quality. Details inside.

New Rules on Comprehensive Income Lead to Head-Scratching

Tammy Whitehouse October 25, 2011

Companies are finding it tougher than expected to comply with a new rule on reporting other comprehensive income, raising questions about what exactly belongs in OCI in the first place. "It's a garbage dump. When FASB doesn't know what to do with something, they throw it into adjusted OCI," says Mike Loritz of audit firm Mayer Hoffman McCann. Full coverage inside.

21ST Century Financial Controls: Using Technology to Stop Fraud in Its Tracks

Apex Analytics August 01, 2008

The impact of fraud on today's businesses is staggering. According to the Association of Certified Fraud Examiners, U.S. organizations alone lose approximately $65 billion annually—or an estimated 5% of their revenues.

A Comparison Of IFRS And U.S. GAAP

PricewaterhouseCoopers October 22, 2004

Extremely detailed 43-page publication from PricewaterhouseCoopers provides information on the key similarities and differences between International Financial Reporting Standards (IFRS) and U.S. GAAP.

SEC Issues Accounting Bulletin For Oil, Gas Companies

Compliance Week October 05, 2004

Last week, the SEC staff issued an accounting bulletin regarding the application accounting rules for the retirement of certain assets at oil and gas companies.

SEC Issues Accounting Bulletin For Oil, Gas Companies

Compliance Week October 05, 2004

Last week, the SEC staff issued an accounting bulletin regarding the application accounting rules for the retirement of certain assets at oil and gas companies.

Fraud Prevention Checkup

Association of Certified Fraud Examiners February 01, 2004

Seven pages of questions for testing your company's ability to identify and manage fraud risks.

Related Party Transactions

Wachtell, Lipton, Rosen & Katz January 05, 2004

Aims to clarify proxy, periodic reporting and financial footnote disclosure requirements.

Guidance On Revenue Recognition

SEC December 17, 2003

Accounting guidance on revenue recognitionm, ostensibly updating guidance published back in May.

Interpretive Guidance On MD&A

SEC December 01, 2003

Guidance emphasizing analysis and encouraging "top-level" involvement in the drafting of MD&A.

Accounting Roundup

Deloitte & Touche August 25, 2003

Latest Accounting Update from Deloitte is a seven-pager with brief, articulate synopses of the summer's key accounting developments.

Global GAAP: The Future of Corporate Reporting

PricewaterhouseCoopers June 01, 2003

Looks at the convergence of U.S. GAAP and International Financial Reporting Standards, and argues companies need to "get in the game."

Disclosure of Non-GAAP Financials

Manatt, Phelps & Phillips May 01, 2003

Basic overview that recommends companies begin taking actions on review and oversight issues.

Case Studies And Commentary On Fraud

AICPA April 01, 2003

"Real-life case studies" of unethical, illegal accounting practices (e.g., revenue recognition, internal controls). With "expert commentary."

Accounting Roundup

Deloitte & Touche April 01, 2003

First quarter 2003 summary of key developments from the regulators and standards-setters.

Is Earnings Guidance Disappearing in 2003?

Coffin Communications March 01, 2003

Provides ten best-practices for managing guidance expectations, including "Disclose Assumptions Along with Earnings Forecasts."

SEC Final Rules Re: Earnings Releases

Testa, Hurwitz & Thibeault February 04, 2003

Nice Client Bulletin addresses interplay with Regulation FD, analyst conference calls, and "practical tips for compliance."

SEC Implements Conditions for the Use of Non-GAAP Financial Measures

Fried Frank Harris Shriver & Jacobson January 29, 2003

Nice, easy-to-follow client memorandum from Fried Frank, with clarification of such issues as "filing" vs. "furnishing," and a good synopsis of Regulation G.

SOX Update: Use of Non-GAAP Financial Information

Mintz Levin Cohn Ferris Glovsky and Popeo December 09, 2002

Very good overview of the proposal in Q&A format, covering "What is Non-GAAP Financial Information?" and "What Liability Do Issuers Have With Respect to Disclosure Made Under Regulation G?"

Use of Non-GAAP Financial Measures

Thelen Reid & Priest November 08, 2002

A discussion of the proposed rules and their implications, including examples of the proper use of non-GAAP reporting.

SEC Proposal on "Pro Forma" Reporting

KPMG November 01, 2002

"Companies should carefully consider how the proposed rules might affect their current practices."

Compliance Week Podcasts ...

Every week we chat with leading thinkers in compliance, auditing, risk management, public policy and more. These short (10-15 minutes) interviews are free to all. Follow Compliance Week podcasts on iTunes.

Compliance Week LinkedIn Group

Compliance Week now has a companion group on LinkedIn, where members can network and discuss the compliance and governance news of the day. Open to all compliance professionals, free to join.

Survey of the Week

Deloitte is conducting their annual Look Before You Leap: Managing Risks in Global Investments survey to better understand the approaches companies are taking to address compliance and integrity-related risks in emerging markets.