July 19, 2018

just another day in the Capital Wasteland

Save the Date: PCAOB Investor Advisory Group meeting October 20

This just in! The Public Company Accounting Oversight Board today announced that it will hold a meeting of its Investor Advisory Group on Wednesday, October 20, 2014. Topics that the IAG will present to the Board include: ·         The audit firm business model and incentives ·         How to improve audit quality and the relevancy of […]

It’s Not Accrual World For These Forty-Six Senators Who Are All For Cash Accounting

You may have heard that the Senate is considering, as part of tax reform, to require many cash basis businesses to make the switch to accrual. Because nothing says "reform" like using the method that doesn't actually require money changing hands. Well, the AICPA hates the idea. I'm sure you thought what I did at […]

EY Is In Trouble With the SEC For Lobbying On Behalf of Audit Clients

This just in: The Securities and Exchange Commission today charged Ernst & Young LLP with violations of auditor independence rules that require firms to maintain their objectivity and impartiality with clients. Ernst & Young agreed to pay more than $4 million to settle the charges. The SEC’s order instituting a settled administrative proceeding finds that […]