Why do companies restate financial results?
Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies that amended their annual reports increased by 18%...
Insights
Private companies: Beware of SEC scrutiny
The SEC’s mission is to protect the public as well as the integrity of the financial markets. That mission extends to not only public companies but also private ones that may be acquired by a public company or that are large enough to consider an initial public offering (IPO)...
Errol Labosky Joins DLA as Managing Director of the Firm’s Internal Audit Practice
DLA, LLC, a leading internal audit, compliance and advisory services firm, founded in 2001, announced that Errol Labosky joined the firm on Monday, July 8, 2019, as a Managing Director of Internal Audit, focusing primarily on DLA's real estate clients. For over 20 years, Errol has had extensive experience in internal audit, specializing in the real estate industry and REIT marketplace.
How auditors use nonfinancial information
Every financial transaction your company records generate nonfinancial data that doesn’t have a dollar value assigned to it. Though auditors may spend most of their time analyzing financial records, nonfinancial data can also help them analyze your business from multiple angles...
The pros and cons of interim reporting
The Securities and Exchange Commission (SEC) requires certain public companies to publish quarterly financial statements to give investors insight into midyear performance. Though interim reporting generally isn’t required for private companies, stakeholders in smaller entities can benefit even more than those of public companies from this type of information. But it’s also important to understand the potential shortcomings...
Compliance Newsflash for June 21st, 2019
On June 5, 2019, the SEC adopted two rules and published two interpretations “designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers.” This Alert discusses the Regulation Best Interest adopting release and the SEC interpretive release regarding the “solely incidental” prong of the broker-dealer exclusion from the Advisers Act. Separate Ropes & Gray Alerts discuss the SEC release on the standard of conduct for investment advisers and the SEC adoption of Form CRS.
AUP engagements: A middle ground between audits and consulting services
Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP)...
Private businesses: Who’s ready for the new lease standard and other updates?
Many private companies are still unaware of the balance sheet effects of new lease accounting rules, including lease capitalization requirements, that go into effect starting in 2020. Here’s what to expect and how private companies can adapt...
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