Views on improving the integrity of global capital markets

Matt Waldron

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32 Posts

Biography

Matt Waldron is a director of financial reporting policy at CFA Institute. He drafts position papers and comment letters, representing membership interests regarding financial reporting and disclosure proposals issued by the FASB, the IASB, and others.

Author's Posts
The “Rolls Royce” of Auditors’ Reports

At a time when accounting standard setters are finalizing new requirements for the auditor’s report, Rolls Royce sets a high bar.

Navigating a Maze: Audit Profession’s Solution for Disclosing Engagement Partner

The debate continues regarding the PCAOB proposal to require disclosure of the name of the engagement partner in the auditor’s report.

Audit Transparency and Accountability: The Engagement Partner Should be Disclosed

A recent PCAOB proposal intends to enhance transparency and thus improve audit quality through the engagement partner’s increased sense of accountability — a move that has strong investor support.

“Going Concern” Warnings: Fewer Firms Improved in 2012 and Its Impact on Investors

Investors are closely following separate initiatives of the FASB and the PCAOB to improve the way both company management and the independent auditor report the company’s future financial health.

CFA Institute Survey: Investors Weigh in on FASB and IASB Expected Credit Loss Models

Investors support a converged model and enhanced disclosures given their desire for comparable and consistent financial statements.

Investor Win: FASB Proposes Enhanced “Going Concern” Warnings for U.S. Firms

FASB proposal would make warnings about a company’s failing financial health the responsibility of firm management.

Investors Remain in the Dark When PCAOB Disciplinary Actions Are Hidden in the Shadows

Reed-Grassley bill would provide much-needed transparency to public company auditing process.

KPMG Scandal Strengthens Case to Disclose Lead Partner in Public Company Audits

Will the alleged insider trading scandal involving ex-KPMG partner Scott London compel the Public Company Accounting Oversight Board to finally require disclosure of the lead partner on public company audits?

“Gibberish and Alleged Untruths” — The London Whale Fiasco Explained

Two articles on the US$6 billion London Whale trading loss saga show how the obfuscation of facts and alleged untruths played leading roles in the debacle.

Disclosure of PwC’s Quality Control Deficiencies Concerning to Investors

The PCAOB recently updated its 2009 and 2010 inspection reports for PricewaterhouseCoopers (PwC) covering audit years 2008 and 2009. Originally, the PCAOB identified quality control deficiencies associated with those audit years and gave PwC 12 months from the date of each report to implement corrective action.

U.S. Senator Elizabeth Warren: “Nobody Believes That the Banks’ Books are Honest”

Have you seen Senator Elizabeth Warren’s recent grilling of the heads of the Securities and Exchange Commission, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Commission, and others posted on YouTube?

Hewlett-Packard’s $8.8 Billion Acquisition Write-down Just Got A Bit Heavier

Recently the Financial Reporting Council (FRC), which sets the U.K. standards for accounting and auditing, announced that it would open an investigation into Hewlett-Packard’s $8.8 billion write-down of its acquisition of Autonomy.

Bank Financial Reporting: “The Cause Is Hidden, but the Result Is Well Known”

Are you the trusting sort? How about when it comes to trusting banks some six years after the financial crisis? You should consider reading The Atlantic’s recent article “What’s Inside America’s Banks?” on why many in the investment world, and the general public, still don’t trust banks.

Continued Concern for “Going Concern” Reporting

There is little question that, in the wake of the credit crisis (think Lehman Brothers and the AIG bailout) and the MF Global debacle, advance warnings about a company’s failing financial health would be welcomed by investors. One such… READ MORE ›

CFA Institute Weighs in with the U.S. SEC on IFRS

On 7 July the U.S. SEC sponsored a series of roundtables designed to help determine whether incorporating International Financial Reporting Standards (IFRS) into the U.S. financial reporting system is in the best interest of… READ MORE ›



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