On May 14, 2013, COSO released an updated version of its Internal Control – Integrated Framework. The original version, which was
Category: Internal Controls (ICFR – SOX 404)
SEC Registrants with Poor Cyber Controls
On October 16, 2018, the SEC’s Division of Enforcement issued an investigative report regarding cyber-related fraud’s effect on public company internal
SOX 404 Disclosures: A Fourteen Year Review
The Sarbanes-Oxley Act of 2002 was passed by Congress to better protect investors. Section 404 of this act (SOX 404) requires
Audit Analytics for Regional Accounting Firms
Frazier & Deeter LLC is a full-service accounting firm, headquartered in Atlanta, Georgia. Operating across all industries, Frazier & Deeter offers
How to Predict Which Acquisitions Will Fail and Generate Negative Stock Returns
Summary of Key Findings It can be difficult to predict which acquisitions are going to fail An academic article using Audit
SOX 404 Disclosures: First-Time Auditor Attestations
In 2017, the administration proposed raising the bar to permanently exempt companies with market cap of less than $250 million from
Five Years of Restatements Following Internal Investigation for MiMedx Group, Inc.
On June 7, 2018, MiMedx Group, Inc. [MDXG], a biopharmaceutical company, announced that the Company is going to restate previously filed
Reasons for an Amended 10-K: 2017
Annual reports, or 10-Ks, are known for their extensive information relating to all aspects of a company’s business. With that being
Early Indicators Predict an Uptick in Revenue Recognition Accounting Failures
We have been asked several times whether or not the adoption of the new revenue recognition standard will cause an increase
A Fifteen Year Review of Audit Fees
Audit Analytics has released its annual audit fees report, Audit Fees and Non-Audit Fees: A Fifteen Year Trend, which focuses on
Adopting the 2013 COSO Framework: Fiscal 2016 Update
By now, every company should be using the COSO 2013 Framework in conjunction with their annual evaluations. In updating last year’s
SOX 404 Disclosures: A Thirteen Year Review
The Sarbanes-Oxley Act of 2002 was passed by Congress to better protect investors. Section 404 of this act (SOX 404) requires
Canadian Controls – What is Disclosed and What is Not?
Let’s pretend for a second that Sarbanes-Oxley Act of 2002 (SOX) does not exist; auditing requirements for controls are absent and
Predicting Material Weakness
Audit Analytics has released a white paper, Predicting Material Weakness, which discusses how certain company events and disclosures—such as late filings,
Review Notes – Volume 3
With filing season in full swing, we thought that it would be a nice change of pace to reveal another volume of
The Impact of SOX on Financial Restatements
With the hint of deregulation in the D.C. air, some sense the opportunity – or risk, depending on your point of
The Risks of Internal Controls
Companies are required to maintain and assess the effectiveness of Internal Controls over Financial Reporting (ICFR). Accelerated Filers are required to
EBay Reports Material Weakness: Second Control Deficiency in Three Years
Last week on February 6, in its Fiscal 2016 10-K, eBay (EBAY) disclosed a material weakness in its internal controls over financial reporting (“ICFR“). The deficiency
Audit Fees and Non-Audit Fees: A Fourteen Year Trend
Last week, Audit Analytics released its annual report Audit Fees and Non-Audit Fees: A Fourteen Year Trend. The report provides a detailed breakdown
2015 SEC Filing Highlights, Part 1 of 2
In this post, our second annual “best-of-the-year” review, we’ll look at 2015 filings for some of the highlights of the year:
SOX 404 Disclosures: A Twelve Year Review
Audit Analytics recently released a new report looking at trends in Sarbanes-Oxley (SOX) Section 404 disclosures, which pertain to Internal Controls over Financial