Independent Audits of Nonprofit Organizations With Douglas Cook
PLI's inSecurities Podcast - (Remedial) Accounting Summer School
New Revenue Recognition Standard-Part V, What does it all mean?
For nearly two decades since its enactment in 2005, PCAOB Rule 3502 prohibited any “person associated with a registered public accounting” firm from taking or omitting to take an action knowingly or recklessly in a way that...more
The Public Company Accounting Oversight Board (PCAOB) expanded its enforcement activity to the highest level since 2017, according to a new report released today by Cornerstone Research. Monetary penalties imposed by the...more
The U.S. Securities and Exchange Commission expanded its accounting and auditing enforcement activity in fiscal year 2023, while monetary settlements dropped for the second consecutive year, according to a new report released...more
Welcome to EO Radio Show – Your Nonprofit Legal Resource. Many nonprofit organizations are required to have their financial statements audited by an independent certified public accountant. For example, a nonprofit charity...more
The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more
Our global team of securities and professional liability lawyers at Hogan Lovells is uniquely positioned to monitor legal developments across the globe that impact accountants’ liability risk. We have experienced lawyers on...more
In mid-2020 the German stock corporation Wirecard became suspected of having falsified its records and to have made up assets in the magnitude of EUR 1.9 billion in its balance sheets. This prompted the German legislature to...more
A company that specialized in the design and production of optical instruments (hereafter: the Company) hired an accounting firm and a tax consultancy firm (hereinafter: the Accountants) to prepare its annual accounts between...more
On 1 July 2021 a new bill came into force in Germany that substantially reshapes the legal framework for accountants (“Gesetz zur Stärkung der Finanzmarktintegrität – (Finanzmarktintegritätsstärkungsgesetz -FISG)”, “FISG”,...more
Two recent enforcement actions by the U.S. Securities and Exchange Commission (SEC), including a recent settled action against Kraft Heinz Co. (“Kraft”), underscore the agency’s renewed and continuing focus on accounting and...more
Court of Appeal rules in favor of accounting firm in breach of contract claim - The Court of Appeal has rejected a claim from a California-based businessman that a global accounting firm failed to ensure that its...more
The recent statement by the Staff of the SEC (the Staff Statement) will likely impact almost every SPAC or post-de-SPAC entity with warrants in its structure. SPAC/post-de-SPAC entities should review warrant terms to...more
HKA and Vinson & Elkins are pleased to present a webinar on “Considerations For Companies Entering the Federal Contracting Space.” Vinson & Elkins partner, Dan Graham, along with HKA Partners Greg Bingham and Mike LaCorte...more
Recent court decisions - Germany - Cum/Ex-trades spark litigation - So called Cum/Ex-trades have become one of the hottest legal topics in Germany. A flood of claims dealing with those trades has reached German...more
Whilst the full scope of the potential impact of COVID-19 for financial covenant calculations and other purposes within loan agreements can only properly be assessed on a deal-by-deal basis, it is still possible to identify...more
As entities cope with the economics of coronavirus, we recommend they take actions along the way to try to avoid “substantial doubt” about an entity’s viability as a “going concern” and the resulting going concern statements...more
In the accounting profession, the concept of materiality in financial reporting comes from two distinct areas: Generally accepted accounting principles (GAAP), and generally accepted auditing standards (GAAS). ...more
Hogan Lovells’ global team of securities and professional liability lawyers is uniquely positioned to monitor legal developments across the globe that impact accountants’ liability risk. We have experienced lawyers on five...more
Private equity fund managers need to develop reliable valuation processes and procedures when conducting fair value analyses in support of their investments to allow for a seamless review by independent auditors....more
In December 2019, the American Institute of Certified Public Accountants (AICPA) revised its attestation standards to eliminate certain requirements for Agreed-Upon Procedures (AUP) engagements, thereby expanding the types of...more
The American Institute of Certified Public Accountants (“AICPA”) Auditing Standards Board issued Statement on Auditing Standards No. 138 and Statement on Standards for Attestation Engagements No. 20 to amend the concept of...more
At the AICPA conference we have previously blogged about, the Chief Accountant explained that the SEC’s Office of the Chief Accountant (“OCA”) is led by the Chief Accountant, who serves as the principal advisor to the SEC on...more
To my knowledge this 10-K includes the first critical audit matter, or CAM, issued by a Big 4 firm. The CAM is straightforward and does not reflect negatively on the company or its audit committee or cast doubt on its...more