James Doty, a partner at Washington, D.C.-based law firm Baker Botts LLP who served as general counsel for the SEC in the early 1990s, recently was appointed by SEC chairman Mary Schapiro to lead the agency’s Public Company Accounting Oversight Board.
The SEC in 2009 issued rules requiring public companies and foreign private issuers that prepare financial statements in accordance with US GAAP to attach an exhibit with all periodic filings that contains computer readable tags written in XBRL.
The New York Attorney General has filed a lawsuit against Ernst & Young, accusing the firm of helping Lehman Brothers hide its financial weakness from investors from 2001 until the investment bank collapsed in 2008.
A proposed ruling from the U.S. Securities and Exchange Commission exempts family offices from any requirement to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
July was a busy month for the SEC. Five of the enforcement cases charged or settled that month involved large, well-known companies, including KBR, Goldman Sachs, Dell, General Electric, and Citigroup.
Most executives responsible for corporate financial reporting said their firms will be ready, but likely will not move to IFRS until mandated, even if an "early adoption" option is allowed, according to an IFRS convergence survey.
The Securities and Exchange Commission has voted unanimously to propose measures that would require public companies to disclose additional information to investors about their short-term borrowing arrangements.
If the U.S. Securities and Exchange Commission is correct, billionaire brothers Samuel E. Wyly and Charles J. Wyly Jr. have more than savvy investing and brilliant business minds to thank for their wealth.
The Public Company Accounting Oversight Board has issued its views regarding the provision of the Sarbanes-Oxley Act of 2002 that authorizes the PCAOB to impose sanctions on registered public accounting firms and their supervisory personnel for failing to reasonably supervise associated persons.
Dell Inc. appears to be closer to an agreement with the U.S. Securities and Exchange Commission, which has been investigating the computer maker and its founder over questionable arrangements with Intel.
A sense of urgency once felt in tax departments to prepare for the potential implications of IFRS might have been replaced in recent months by uncertainty, as regulatory bodies issued statements seeming to indicate a slowing in the pace of movement toward adoption of IFRS.
The SEC announced on Thursday that Goldman, Sachs & Co. will pay $550 million and reform its business practices to settle SEC charges that Goldman misled investors in a subprime mortgage product just as the U.S. housing market was starting to collapse.
The Public Company Accounting Oversight Board this week approved for public comment a proposed audit standard on confirmation, which is designed to strengthen current requirements under the auditing standard.