A recent Protiviti survey notes that the bigger the company, the bigger the SOX compliance costs. Smaller companies audited by regional firms have lighter requirements, writes Tammy Whitehouse, but at the end of the day, SOX compliance is expensive for everybody.
Tammy Whitehouse
Posted inAccounting & Auditing
FASB seeks input on future rules, principles
The Financial Accounting Standards Board is looking for some guidance from capital market participants that could prove critical to how the board moves forward on accounting changes in the future. Tammy Whitehouse has more.
Posted inAccounting & Auditing
SEC bars 2 KPMG auditors over bank loan loss reserves
Tammy Whitehouse looks at the case of two KPMG auditors barred by the SEC from public company practice over their role as engagement partner and senior manager on the audit of a failed financial institution in the aftermath of the financial crisis.
Posted inAccounting & Auditing
Board needs more time for strategy, risk, directors say
A recent KPMG roundtable series revealed that corporate boards just don’t spend enough time on strategy, strategic risk, technology, cyber-security, executive succession planning, or talent development. Tammy Whitehouse has more details.
Posted inAccounting & Auditing
The pros and cons of using stock buybacks
It’s become commonplace for public companies to use stock buybacks to distribute excess cash to shareholders. Tammy Whitehouse hears from accounting experts on accelerated stock repurchases—what pitfalls and unintended consequences companies should beware when structuring shareholder contracts.
Posted inAccounting & Auditing
Alert calls out audit risks under new revenue rule
With implementation of the revenue standard looming, the American Institute of Certified Public Accountants has issued some guidance to help companies keep audit risks in mind. More from Tammy Whitehouse.
Posted inAccounting & Auditing
Latest survey suggests uneven costs for Sarbanes-Oxley
A recent survey from Protiviti finds that half of those accelerated and large accelerated filers participating in the survey claim their external audit fees related to Sarbanes-Oxley compliance increased in fiscal 2015, while 52 percent of non-accelerated filers said their fees decreased. Tammy Whitehouse has more.
Posted inAccounting & Auditing
Retailer pushes back on Delaware unclaimed property audit
Office Depot is taking on the state of Delaware over its unclaimed property audit tactics, asking the U.S. District Court in Delaware to declare that the state’s unclaimed property law violates federal law and the U.S. Constitution. Tammy Whitehouse reports.
Posted inAccounting & Auditing
Strength through diversity: Q&A with Maria Castañón Moats
The former chief diversity officer for PwC is now the leader of the firm’s U.S. assurance practice. With her strong background and bright future, what does Maria Castañón Moats have in store? Tammy Whitehouse has the answers.
Posted inAccounting & Auditing
FASB proposal would target income tax disclosures
FASB proposed a change to the disclosure requirements under Topic 740 in the Accounting Standards Codification that would require public companies to add nearly a dozen new items to their existing income tax disclosures, including income or losses from continuing operations along with income tax expense or benefit, separated by domestic and foreign operations. Tammy Whitehouse reports.
