congress news from FierceComplianceIT
News
XBRL mandate to expand already?
XBRL--that is, eXtensible Business Reporting Language--still isn't in wide-spread use, though it's definitely coming, and rather quickly for big, publicly traded companies. But a recent proposal in... Read more...
The irony of the PCAOB constitutional challenge
We've covered the long-running constitutional challenge to the PCAOB, created by Sarbanes-Oxley, but we're still somewhat surprised by the news that the Supreme Court will hear the case. It's unclear... Read more...
Fair to beat up on the SEC?
Ever since the Bernard Madoff scandal broke open, the media has been rife with lamentations that the SEC was remiss in its oversight of the firm. It has certainly proven to be a PR black eye. Some... Read more...
Don't count on suspension of fair value rules
Recall that the $700 billion bailout deal passed by Congress included a requirement that the SEC study the impact of fair-value accounting on the financial system. Some thought this might presage an... Read more...
So how much will it cost to comply?
Small companies, even with the likelihood of another delay, are rightfully concerned with how much 404 compliance will cost them. The issue is not an easy one. There's not a lot of data out there.... Read more...
Another small company 404 delay
For much of the year, I had been telling people not to hold their breath for another Sarbanes Oxley 404 delay for nonacclerated filers. My point was you couldn't count on any sort of regulatory... Read more...
Little impetus to change Sarbox law
Sarbanes Oxley is the law that everyone loves to hate. Even Michael Oxley himself has some reservations about it. It's an easy target in many ways. But for all the angst, it looks like now there will... Read more...
Time to think about disclosure of climate effects
As you know, a debate has emerged about disclosure of climate-based risks. In Congress, there is a move afoot to require more disclosure, a thought not everyone thinks such a mandate would be wise.... Read more...
Will this Sarbox whistleblower fare any better?
We've noted that financial whistleblowers have not fared well, despite the
Do accountants need liability protection?
Accounting firms have been on the hot seat for years. Their failures in some ways led to Sarbanes-Oxley, but the truth is that they have really prospered in the Sarbox era. All those mandated... Read more...
