Tag:
financial statements
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Latest Headlines
New alert offers guidance on economic risk
The strength of the current economic recovery remains uncertain, which qualifies the economy as a massive risk issue for public companies. Most are quite aware of the risks that a volatile economy
Companies aim for better financial close
If there is one thing that raises anxiety within the financial unit, it's the financial close, that is, the process by which financial statements are finalized for filing with the SEC. Any CFO will
Time to automate XBRL tagging
Most public companies have complied with the SEC's initial requirements regarding eXtensible Business Reporting Language (XBRL) tagging. A lot of companies, facing tight deadlines and lots of
As narrative section on statements loom. SEC taking harsher view of vague filings
For the most part, Sarbanes-Oxley has led to better financial statements, especially at the biggest companies. We've seen far fewer restatements since the law went into effect. That said, there will
PCAOB meeting to focus on changing the auditor reports
Are we on the verge of historic change in the standard auditor's report, which has employed the same basic model since the 1940s? I wouldn't say change is imminent, but the PCAOB is taking action on
XBRL: Time for real-time financial reporting?
XBRL stands as a major innovation in financial reporting. As the final tranche of companies begin to comply with the XBRL mandate, an obvious question is: What's next? Could it possibly be real-time
PCAOB presses case for narrative in financial statements
Last month, the PCAOB, which is setting an aggressive tone under new chairman James Doty, set forth some proposed changes to the form of audited financial statements. Comments aren't due until the
XBRL at the finish line: Was it worth the effort?
It's hard to believe, but we are close to the final deadline for initial XBRL implementation. Many companies are already in compliance--more than 1,800 companies have so far filed in the new
PCAOB looking at auditor performance
In the wake of the financial crisis, a constant refrain about the big audit companies has been some version of "Where were they?" and "How could they have blown this?" Some are miffed that more
Company offers free XBRL tools
Free software is a time-honored marketing tool, and the GRC industry has seen several examples recently . A few years ago, Configuresoft offered what it called the industry's "first-ever free
