Failing to identify a corrupt M&A target could spawn serious problems for an acquirer’s finances and reputation.
U.S. businesses amassed nearly $7 billion in IRS civil penalties in 2013 stemming from tax and accounting mistakes.
Audit deficiencies were most prevalent in internal controls, fair value measurement, and revenue recognition, says the IFIAR.
Under the “clawback” provision of the Sarbanes-Oxley Act, executives can return to the company and its shareholders money earned during a fraud.
The SEC and the Ontario Securities Commission are looking into trades made after a report of a possible Blackberry takeover by Samsung.
If that emphasis is at the expense of PCAOB rule-making, “those priorities need to be re-examined," the SEC's chief accountant says.
IRS charged that amount for errors including end-user mistakes, tax and accounting rule errors, and organizational boo-boos.
FASB issues an accounting standards update that eliminates the "Extraordinary Items" classification.
As multinationals are forced to reveal more about themselves, where should the limits of transparency lie?
Increases in audit fees often signal trouble ahead for a company, and speeding disclosure of fees could “reduce the severity of negative market…