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Category: Accounting

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SEC Scrutinizing Non-GAAP Disclosures in Financial Statements

restaurant server with a pencil and pad of paper

Everybody has at least one of those friends who seem to insist on making everything more complicated than it needs to be. They ask for multiple substitutions when ordering at a restaurant. They try to convince everyone to watch the obscure...

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Banker with Briefcase running away from SEC Enforcement

SEC Taking an Interest in Accounting Enforcement

Banker with Briefcase running away from SEC Enforcement

The implosions of Silicon Valley Bank and Signature Bank this month may have come as a surprise to KPMG LLP, one of the so-called Big Four accounting firms. Both banks collapsed within two weeks of KPMG signing off on their audits. In the w...

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If Fraud is Never Caught, did it Really Happen?

A groundhog (marmot) eats a large carrot

Criminal charges like the ones currently levied against FTX founder Sam Bankman-Fried raise an important question for corporate stakeholders: Is securities fraud rampant? Corporate America would undoubtedly bristle at the suggestion, deemin...

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PCAOB Sees Audit Quality Slipping

Fitness enthusiast lifting weights

The Public Company Accounting Oversight Board has a message for auditors: Shape up. According to the PCAOB’s latest report on audit inspections, firms are producing audits with deficiencies at an increasing rate. The board is projecting tha...

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5 blocks on a table each with a different icon (from left to right): 3 books, clip-board to-do list, stick figure as a scale, magnifying glass, and a square with gears and a checkmark. Fingers go to pick up the block with the magnifying glass icon

No CAM Do: Fewer Critical Audit Matters Appearing in Reports

5 blocks on a table each with a different icon (from left to right): 3 books, clip-board to-do list, stick figure as a scale, magnifying glass, and a square with gears and a checkmark. Fingers go to pick up the block with the magnifying glass icon

Auditors are identifying fewer critical audit matters in the typical audit report, according to an analysis from the Public Company Accounting Oversight Board. At the same time, PCAOB also found that the number of audit reports communicatin...

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