All Securities and Exchange Commission articles – Page 55
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Blog
EY forms independent audit quality committee
EY has joined the rest of the Big Four in seeking independent consult on audit quality, forming a committee of outside experts to advise firm leaders.
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Blog
When earnings precede audit, auditors cave, study finds
Absent a strong audit committee, management can get an upper hand over auditors when it releases unaudited earnings results to the market, a new study says.
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Blog
Restatements declined with adjustments, analysis shows
As restatements numbers have fallen in recent years, so too have out-of-period adjustments, according to a recent analysis by Audit Analytics.
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Article
SEC faces lawsuit over ‘gag orders’ in enforcement settlements
The Cato Institute, a libertarian think tank, is suing the SEC over the mandatory “gag orders” it has added to its enforcement-based settlement agreements for nearly 40 years.
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ArticleLIBOR death knell tolls compliance, accounting issues
The slow death of a critical benchmark interest rate will produce a series of compliance headaches for companies stretching over the next few years.
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SEC fines company over non-GAAP prominence issue
Still on its soap box over non-GAAP reporting, the SEC issued an enforcement action against home security company ADT focused on problems with prominence.
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Waters: Shutdown is jeopardizing financial markets
As she assumes leadership of the House Financial Services Committee, Rep. Maxine Waters (D-Calif.) is arguing that the ongoing government shutdown is harming the SEC and the integrity of U.S. financial markets.
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Comment letters show SEC forced restatement on ASC 606
After a 15-part comment letter exchange with the SEC over its compliance with new revenue recognition rules, Kingsway Financial Services opted to restate.
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Eletrobras compliance failures result in $2.5M penalty in FCPA case
Brazil’s state-run power company Eletrobras has agreed to pay a $2.5 million civil penalty for violations of the Foreign Corrupt Practices Act. Inside, the SEC administrative order details Eletrobras’s compliance failures.
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As government shutdown drags on, SEC offers guidance
Concerned about how the government shutdown will affect the SEC and filing obligations? The agency is offering several resources to provide some much-needed guidance.
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Hertz to pay $16M civil penalty for accounting violations
Car rental company Hertz Global Holdings will pay a $16 million civil penalty to settle a case concerning inaccurate financial reporting, the Securities and Exchange Commission announced in an order filed Dec. 31.
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ArticleDisclosure reform an idea worth pursuing
The SEC is once again digging into disclosure reforms, and the debate has shifted from what to file to how frequently companies need to file.
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ArticleUnfinished business, lingering questions guide regulators into New Year
In 2019, regulators look to build on initiatives that began last year while tackling increased political tensions.
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Article
SEC enforcement priorities for 2019
The Securities and Exchange Commission has set out a demanding enforcement agenda for 2019. At the top of its list: retail investors and cyber-related misconduct.
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SEC plans focus on internal controls at year-end
Given big changes companies are undertaking in their accounting processes, staff at the SEC plan to pay special attention to internal controls.
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SEC disciplines Crowe, two partners over audit failures
The SEC has settled charges against Crowe and two of its partners for “significant audit failures” connected to a payroll services firm that went bankrupt.
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Blog
Broadridge Financial Solutions, Workiva announce partnership
Fintech company Broadridge Financial Solutions and enterprise management software provider Workiva have announced an alliance to streamline shareholder communications.
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PCAOB finalizes new standards on estimates, specialists
Auditors have new rules to follow in auditing accounting estimates and in relying on the work of specialists to arrive at audit opinions.
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Blog
SEC expands use of Regulation A exemption
The SEC has enacted new rules that allow Exchange Act reporting companies to use the Regulation A exemption from registration for their securities offerings. Regulation A provides an exemption from registration for offerings of securities up to $50 million in a 12-month period.
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SEC rule targets hedging of equity compensation
New SEC rules will require companies to file an annual meeting proxy statement that discloses whether employees and directors are allowed to hedge any decrease in the market value of equity securities granted as compensation.