-
To: NATIONAL EDITORS
Contact: Andrea Sardone of The Mason School of Business at The College of William and Mary, +1-757-221-2043, andrea.sardone@mason.wm.edu
-
To: NATIONAL EDITORS
Contact: Andrea Sardone of The Mason School of Business at The College of William and Mary, +1-757-221-2043, andrea.sardone@mason.wm.edu
-
The Sarbanes-Oxley Act of 2002 (SOA) charged the General Accounting Office (GAO, which changed its name to the Government Accountability Office in 2004) with examining the factors underlying audit mergers in the 1980s and 1990s, and the effects of such consolidation on competition, cost, quality, and independence in auditing, as well as on capital formation and the obstacles facing smaller audit firms in attempting to compete with the Big Four (Ernst & Young, Deloitte & Touche, KPMG, and PricewaterhouseCoopers). The GAO released its report, "Public Accounting Firms: Mandated Study on Consolidation and Competition,"July 2003, on the first anniversary of the SOA. The GAO did not perceive a problem with today's marketplace, where only four major accounting firms remain worldwide. f...
-
First time one of the four largest accounting firms has not won
CHICAGO -- Grant Thornton LLP, the U.S. member firm of Grant Thornton International ...
-
First time one of the four largest accounting firms has not won
CHICAGO -- Grant Thornton LLP, the U.S. member firm of Grant Thornton International ...
-
The AICPA released the 2004 edition of its annual report, The Supply of Accounting Graduates and the Demand for Public Accounting Recruits (www.aicpa....
-
The Saranes-Oxley Act of 2002 (SOX) requires that any accounting firm that prepares or issues an audit report with respect to a US public company must register with the Public Company Accounting Oversight Board (PCAOB). As required by SOX section 102(e), all registration applications and annual reports will he made publicly available, subject to PCAOB and SEC rules on the confidentiality of proprietary and personal information. The PCAOB is also authorized to collect an initial registration fee and an annual fee from each registered firm. An accounting firm's initial report is filed with the PCAOB on Form 1 and is required before an accounting firm is allowed to attest to financial statements being filed by an issuer with the SEC. The PCAOB adopted the new Form 2 for annual reporting by...
-
Hamdani and Klement demonstrate that civil penalties or the pervasiveness standard could discourage wrongdoing more effectively than the threat of going out of business under the existing regime of entity liability. According to Richardson, a serious governance gap currently exists in the extraterritorial operations of corporations, rendering them unaccountable for grave violations of international human rights and humanitarian law. As Khanna puts it, corporations would prefer corporate crime legislation because its enforcement is less frequent and its penalties are normally lower than those associated with increases in corporate civil liability. Mullin and Snyder discuss securities fraud, a violation of a public corporation's duty to report mandated financial information that has been ...
...Prohibiting law and accounting firms from organizing as limited liability entitie...
-
Brigham Young University's undergraduate and graduate accounting programs are ranked second in the Public Accounting Report's Annual Survey of Accounting Professors.
Both BYU accounting programs have been among the top three in the country every year since 1995.
-
ATLANTA, March 17 /PRNewswire-FirstCall/ -- Lodgian, Inc. (NYSE Amex Equities: LGN) today announced that the audit report of its independent registered public accounting firm, Deloitte & Touche LLP, included in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 (the "Form 10-K"), while expressing an unqualified opinion regarding the company's audited financial statements, identified matters which raise substantial doubt about the company's ability to continue as a going concern. The company's announcement does not represent any changes or amendment to its 2009 financial statements or to its Form 10-K which was filed with the Securities and Exchange Commission on March 16, 2010.
As disclosed in the Form 10-K, the audit report raised substantial doubt abo...