Topic
Audits
357 published works
Securities Law Prof Blog
Senate Committee Schedules Hearing on Accounting Profession’s Role in Preventing Financial Crises
The Senate Banking Committee will hold a public hearing on The Role of the Accounting Profession in Preventing Another Financial Crisis, on April 6, 2011.The witnesses on Panel I will be:…
Securities Law Prof Blog
PCAOB Issues Report on Chinese Reverse Mergers
The Public Company Accounting Oversight Board (PCAOB) recently issued its first public Research Note which provides new data on the growth of reverse merger transactions involving companies from the China region.The…
Corporate & Financial Weekly Digest
FSA and FRC Publish Feedback on the Role of Auditors
By Edward Black
On March 10, the UK Financial Services Authority (FSA) and the Financial Reporting Council (FRC) published a joint feedback statement, Enhancing the auditor's contribution to prudential regulation FS11/1, summarizing the…
The D&O Diary
Some Questions About the NYAG’s Lehman-Related Complaint Against E&Y
New York Attorney General Andrew Cuomo’s December 21, 2010 filing of a civil fraud lawsuit against Ernst & Young in connection with the audit firm’s services to Lehman Brothers has…
Securities Law Prof Blog
SEC Finds Auditor Engaged in Improper Conduct in China Energy Fraud
On December 20, the SEC issued an Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 4C of the Securities Exchange…
Securities Law Prof Blog
PCAOB Proposes Interim Inspection Program and Rules on Funding
The Public Company Accounting Oversight Board today proposed for public comment rules to begin implementation of provisions of Dodd-Frank that expand the Board's oversight authority to encompass audits of securities brokers and dealers. …
Securities Law Prof Blog
PCAOB Establishes Office of Outreach and Small Business Liaison
Section 982 of Dodd-Frank authorized the PCAOB to establish, subject to approval by the Commission, auditing and related attestation, quality control, ethics, and independence standards to be used by registered public accounting firms…
Securities Law Prof Blog
GAO Finds Improvements in TARP Financial Reporting
The Emergency Economic Stabilization Act of 2008 (EESA), which authorized the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP) and established the Office of Financial Stability (OFS), requires…
Securities Law Prof Blog
GAO Finds Failure of Internal Controls at SEC
The SEC is required to prepare and submit to Congress and the Office of Management and Budget audited financial statements. GAO, under its audit authority, audited SEC’s financial statements to…
CommLaw Monitor
GAO Audit Finds USAC Audits Lacking in Controls
By Kelley Drye
The Government Accountability Office (GAO) recently released a study of the FCC's e-rate program controls. The GAO study recommended that the FCC conduct a "robust risk assessment" of its e-rate…