PCAOB Is Still Trying to Resolve Enron Issues

Remember Enron? There is so much that accountants have to be thankful for as a result of The Enron Situation - Sarbanes Oxley, the PCAOB, and auditor independence rules, to name a few. One of the issues that was raised during the height of The Enron Situation had to do with trying to decide what constituted a "related party" situation that needed to be reported to shareholders.

After the barn door was closed, the SEC issued some guidance on related party disclosures. Now the PCAOB is getting ready to issue an official auditing standard on such disclosures. If you would like to weigh in, you have until May 15 to voice your opinions, objections, kudos, etc.


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Caleb Newquist is the Editor-in-Chief of Sift Media US, overseeing content for both AccountingWEB and Going Concern.

Prior to this role, Caleb served as the editor of Going Concern since its founding in 2009. During his time as editor, Going Concern quickly became one of the most popular and talked about websites in the accounting profession. He has been named one of Accounting Today's Top 100 Most Influential People every year since 2011 and has been published on numerous websites, including Above the Law, Deadspin, Denver Business Journal, and the Huffington Post.

Caleb is an adjunct professor of journalism the Community College of Denver in Denver, Colorado, where he teaches Internet Media.

Prior to falling bass ackwards into the media business, Caleb spent over five years working in public accounting, with more than three of those years at KPMG. Caleb received a Master of Science in Accounting from Colorado State University and a Bachelor of Science in Business Administration from the University of Nebraska at Kearney.

Caleb spends a lot of time on a bicycle and reading, but never at the same time.

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