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  • +2

    Spin Doctors Working Overtime on IFRS

    Spin Doctors Working Overtime on IFRS
    "Say you were standing with one foot in the oven and one foot in an ice bucket," former Major League shortstop and manager Bobby Bragan once said. "According to the percentage people, you would be perfectly comfortable." Bragan, who died earlier this year at the age of 92, knew the fickle nature of statistics: They can be spun to tell any ...
    Published about 9 years ago | Rated: +2
  • +3

    Audit Quality: More Important Than Ever?

    Audit Quality: More Important Than Ever?
    Is the role of the auditor more important today than at any other time in recent memory? I think the argument can be made. Wall Street is under scrutiny, the government has been doling out money left and right to shore up the economy, but where's the transparency? Where's the accountability? Those buzzwords are being tossed around with abandon these days, ...
    Published about 9 years ago | Rated: +3
  • +2

    SEC Takes Another Baby Step Toward IFRS

    SEC Takes Another Baby Step Toward IFRS
    Call the SEC's most recent statement on IFRS deliberate, or reasoned, or cautious. Just don't call it breaking news. In a unanimous decision, the SEC has voted to issue a statement supporting the ongoing pursuit of a single set of global accounting standards. What it didn't do is anything earth-shattering, like set a date for when the United States would join ...
    Published about 9 years ago | Rated: +2
  • +3

    Thumbs Up on New SSARS Standard

    Thumbs Up on New SSARS Standard
    Don’t know if you’ve been following this story, but for the last few months, the AICPA has been working on a major revision to the standards for comp and review engagements. This is the biggest change to the standards since they were first written thirty years ago. I’ve been reading the new standards over the last couple of days, and I ...
    Published about 9 years ago | Rated: +3
  • +4

    KPMG's Audit Committee Institute Offers Annual 'Ten To-Do's for Audit Committees in 2010'

    KPMG's Audit Committee Institute Offers Annual 'Ten To-Do's for Audit Committees in 2010'
    NEW YORK -- "Corporate audit committee members know they have a sizeable task in 2010 as they confront high shareholder expectations, new regulations and legislative reforms, and a tenuous economic recovery," said Mary Pat McCarthy, executive director of the Audit Committee Institute (ACI) and a Vice Chair of KPMG LLP, the U.S. audit, tax and advisory firm. To help audit committees ...
    Published about 9 years ago | Rated: +4
  • +5

    Speech by SEC Staff: Improving Audit Effectiveness

    Speech by SEC Staff: Improving Audit Effectiveness
    Speech by SEC Staff: Improving Audit Effectiveness by Zoe-Vonna Palmrose Deputy Chief Accountant, Office of the Chief Accountant U.S. Securities and Exchange Commission 2006 AICPA National Conference on Current SEC and PCAOB Developments Washington, D.C. December 11, 2006 This is my first National Conference and I'm delighted to be here. I have been at the SEC for four months now. Prior ...
    Published over 9 years ago | Rated: +5
  • +6

    GAO finds audit quality problems at Pentagon

    GAO finds audit quality problems at Pentagon
    WASHINGTON - Pentagon auditors face serious problems in their ability to oversee contracts worth hundreds of billions of dollars, according to congressional investigators, and a key senator says the agency in charge needs to focus more on quality than speed. The Government Accountability Office reviewed 69 audits and other cost-related assignments by the Defense Contract Audit Agency and found only four ...
    Published over 9 years ago | Rated: +6
  • +5

    SOX Is a Hot Skill in Accounting

    SOX Is a Hot Skill in Accounting
    The accounting scandals of the past few years may have ended a few accounting careers, but they've also created thousands of jobs for accountants who understand the new accounting rules and procedures that came about as a result. Many companies need auditors who can help them comply with the Sarbanes-Oxley Act of 2002 (aka SOX), the federal legislation that tightened auditing ...
    Published over 9 years ago | Rated: +5
  • +5

    Elements of an Anti-Fraud Program

    Elements of an Anti-Fraud Program
    The fundamental elements of an effective anti-fraud program that should be established by each agency are: 1. Creating and maintaining a culture of honesty, 2. Evaluating the risks of fraud and implementing the processes, procedures and controls needed to mitigate those risks, and 3. Developing an appropriate oversight process Creating a Culture of Honesty and High Ethics It is each agency’s ...
    Published over 9 years ago | Rated: +5
  • +5

    Managing Sarbanes-Oxley Compliance

    Managing Sarbanes-Oxley Compliance
    The Sarbanes-Oxley legislation of 2002 (SOX) was borne out of abuses by corporations, their lawyers, and their auditors during the wild business environment of the late 1990s. It was clear in many cases before SOX that corporate CEOs, CFOs, and/or boards of directors in concert or alone were not only not minding the store but were more or less cooking the ...
    Published over 9 years ago | Rated: +5
  • +1

    Sarbanes-Oxley Act of 2002 – Frequently Asked Questions

    Sarbanes-Oxley Act of 2002 – Frequently Asked Questions
    The answers to these frequently asked questions represent the views of the Division of Corporation Finance. They are not rules, regulations nor statements of the Securities and Exchange Commission. Further, the Commission has neither approved nor disapproved them. Section 2 Question 1: Section 2(a)(7) of the Sarbanes-Oxley Act of 2002 (the "Act") defines an "issuer" as an "issuer (as defined in ...
    Published over 9 years ago | Rated: +1
  • +1

    GAAP and its Sources

    GAAP and its Sources
    The term "generally accepted accounting principles" has a specific meaning for accountants and auditors. The AICPA Code of Professional Conduct prohibits members from expressing an opinion or stating affirmatively that financial statements or other financial data "present fairly... in conformity with generally accepted accounting principles," if such information contains any departures from accounting principles promulgated by a body designated by the ...
    Published over 9 years ago | Rated: +1