PCAOB

12 March 2013

U.S. SEC Tough on Asian Disclosure, Accounting Abuses as Investment Professionals Demand Progress

Fraudulent financial reporting is such a major concern in Asia that U.S. regulators are now getting involved — a reminder to investors of the potential perils posed by companies that are listed in foreign countries, whether through a reverse merger or IPO.

04 May 2011

Let’s Make the Auditor Report More Informative

By Vincent Papa, PhD, CPA, FSA, CFA

Similar to market crises and accountancy-related corporate scandals that have occurred in the past, the extent to which auditors act in the interests of investors has yet again been brought into sharp focus in the aftermath of the 2007-2009… READ MORE ›

28 March 2011

Investor Preferences Being Considered for Auditor’s Reporting Model

By Matt Waldron

When the Public Company Accounting Oversight Board (PCAOB) Office of the Chief Auditor (OCA) presented an update on 22 March on outreach to investors and others about changes to the auditor’s reporting model, it cited… READ MORE ›

22 December 2010

Never Mind the PCAOB, Here Comes the Martin Act train

By Bob Dannhauser, CFA

News of New York State Attorney General Andrew Cuomo’s decision to file a civil lawsuit against Ernst and Young LLP for its role as auditor to Lehman Brothers is just the latest crack to develop in the… READ MORE ›

11 November 2010

Audit Firms Get Their Grades

By Bob Dannhauser, CFA

Check out the latest accounting industry score card (PDF) from the Public Company Accounting Oversight Board (PCAOB), the U.S. regulator of accounting firms, which looked at the performance of such firms during the… READ MORE ›

Curated Global Headlines by SmartBrief.com

TrueMark launches S&P 500 defined-outcome ETF

TrueMark has brought to Cboe Global Markets a defined-outcome exchange-traded fund that buys options linked to the S&P 500 Price Index. The TrueShares Structured Outcome (August) ETF protects against losses of 8% to 12% but does not cap gains. ETF (03 Aug.)

Watchdog wants US Treasury info on pandemic relief loan

Brian Miller, US special inspector general for pandemic recovery, wants the Treasury Department to give his office "timely and unrestricted access" to documents related to a $700 million coronavirus relief loan to shipping company YRC Worldwide. The Congressional Oversight Commission has questioned whether YRC is an appropriate company to receive funds. Bloomberg (tiered subscription model) (03 Aug.)

SEC's Blass: Advertising-rule update to proceed this year

The Securities and Exchange Commission expects to advance work this year on a revised advertising and solicitation rule for investment advisers, says Dalia Blass, director of investment management. The rule predates the internet and many market and technological advances, making an update "one of the harder proposals for us to bring together," Blass says. ThinkAdvisor (free registration) (03 Aug.)

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