All Related Parties articles

  • Blog post

    PCAOB targets controls, related parties in 2016 inspections

    2016-07-15T09:00:00Z

    As inspectors are fanning out this year to scrutinize 2015 financial statement audits, they are looking for all the usual problem areas that have plagued audit firms the past few years, but they’re also looking at economic risks and how well auditors have observed a new standard on related-party transactions. ...

  • Blog post

    Lawyers see varied approaches to related-party rule

    2016-02-23T11:30:00Z

    Image: Attorneys at law firm Dorsey observing compliance with the new audit standard on related-party transactions say they are seeing some companies being asked to make no changes to their controls and procedures while others face new audit demands to expand their questionnaires to directors and officers. “The required changes ...

  • Article

    Hosting a Related-Party Transaction About to Get Much Harder

    2015-10-20T11:45:00Z

    Image: Companies preparing year-end financial disclosures, beware: Auditors will be poring over related-party transactions to make sure those parties don’t get too wild. The new Audit Standard 18 pushed auditors to be more skeptical about transactions, so expect them to push you (and your audit committee) to be more diligent ...

  • Article

    Hosting a Related-Party Transaction About to Get Much Harder

    2015-10-20T11:45:00Z

    Image: Companies preparing year-end financial disclosures, beware: Auditors will be poring over related-party transactions to make sure those parties don’t get too wild. The new Audit Standard 18 pushed auditors to be more skeptical about transactions, so expect them to push you (and your audit committee) to be more diligent ...

  • Article

    Year-End Audits: Start Prepping for the Pain

    2015-10-14T15:30:00Z

    As public companies and their external auditors gear up for the year-end audit cycle, it will likely include some familiar, yet still uncomfortable, conversations. Be ready for close looks at internal control over financial reporting, accounting estimates, and related-party transactions. “You can rest assured auditors are going to be really ...

  • Article

    Recognize the Big Standards’ Changes

    2015-01-06T09:30:00Z

    The auditing and financial reporting world will spend lots of 2015 preparing for the new revenue recognition standard going into effect by 2017—but from leasing to going concern warnings to IFRS adoption in the United States, plenty of other major changes may arrive as well. “Folks have come to see ...

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