- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Goodwill impairment recorded by U.S. public companies is on the rise. According to Duff & Phelps’ 2019 U.S. Goodwill Impairment study, it climbed 125 percent in 2018.
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Goodwill impairment recorded by U.S. public companies fell 10 percent from 2018 to 2019, according to Duff & Phelps’ latest study. An early look at 2020 figures suggests a big rise in next year’s results as a result of the pandemic.
The SEC has filed a civil complaint against brand-management company Sequential Brands Group for ignoring “clear, objective evidence of likely goodwill impairment.”
As auditors get ready for year-end audits, internal controls and new accounting standards are on their radar.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
