News & Analysis as of

Independent Audits

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The auditors can make a mistake and not admit

For plans that require an independent audit, the point of the audit is to determine the financial health of the plan to pay benefits to participants. One aspect is looking at the terms of the plan document, and making sure...more

Farella Braun + Martel LLP

Independent Audits of Nonprofit Organizations With Douglas Cook

Welcome to EO Radio Show – Your Nonprofit Legal Resource. Many nonprofit organizations are required to have their financial statements audited by an independent certified public accountant. For example, a nonprofit charity...more

Winstead PC

Digital Asset Customer Protections Signed into Texas Law

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Texas Governor Abbott has signed landmark legislation to ensure that digital asset service providers with Texas customers maintain adequate reserves and do not commingle customer funds with corporate assets. Texas...more

Robinson+Cole Data Privacy + Security Insider

New York City’s AI Bias Law Has Been Postponed

The New York City Department of Consumer and Worker Protection will delay enforcement of Local Law 144, until April 15, 2023. The law requires companies operating in the City to audit automated employment decision tools for...more

Robinson+Cole Data Privacy + Security Insider

NYC Law Restricting Use of AI in Hiring Takes Effect in January: Are You Ready?

Last year, the New York City Council passed Local Law Int. No. 1894-A, which amended the City’s administrative code to afford new protections to employees during the hiring and promotion processes. The law protects those...more

Opportune LLP

What You Need to Know About Private Equity Valuation Audit Reviews

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Private equity fund managers need to develop reliable valuation processes and procedures when conducting fair value analyses in support of their investments to allow for a seamless review by independent auditors....more

WilmerHale

SEC Shares Best Practices With Audit Committees

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The Securities and Exchange Commission recently released a Statement highlighting eight areas that audit committees should focus on this reporting season. Penned by SEC Chairman Jay Clayton, Division of Corporation Finance...more

Robins Kaplan LLP

Financial Daily Dose 12.16.2019 | Top Story: Boeing Execs Mull Halting 737 Max Production as FAA Clearance Stalls

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Boeing’s 737 MAX faces an uncertain future. Boeing is considering at least a temporary halt to its 737 Max production “as regulatory clearance for the grounded jet’s return looks increasingly likely to slip beyond January...more

Foley Hoag LLP - Energy & Climate Counsel

Highlights from the Massachusetts Department of Public Utilities Order in the National Grid Rate Case

Rejection of Significant EV Expansion, Concern Regarding Interconnection Issues, and a Management Audit - On September 30, the Massachusetts Department of Public Utilities (“Department”) issued its order (“Order”) in...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - September 2019

In this issue, we summarize regulatory, litigation and industry developments from May to September 2019 impacting the investment management sector, including SEC action on standards of conduct for broker-dealers and...more

White & Case LLP

PwC Charged with Violating Auditor Independence Rules and Improper Professional Conduct

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On September 23, 2019, the Securities and Exchange Commission (“SEC”) charged accounting firm PricewaterhouseCoopers LLP (“PwC”) with improper professional conduct and violating auditor independence rules. The SEC also...more

WilmerHale

Regulators Address the 2019 Baruch College Financial Reporting Conference

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Always a fertile source of regulatory perspective, this year’s Baruch College Financial Reporting Conference featured a future-oriented theme in remarks by Chief Accountant of the Securities and Exchange Commission Wesley...more

Foodman CPAs & Advisors

Auditors are required to be “Independent” of their Audit Clients

The Sarbanes-Oxley Act of 2002 (SOX) mandates that audit committees be directly responsible for the oversight of the engagement of the company's independent auditor, and the Securities and Exchange Commission (SEC) rules are...more

Jones Day

Delaware Supreme Court Reverses Chancellor's Chicago Bridge Ruling - Authority of Independent Auditor to Resolve Purchase Price...

Jones Day on

In a much-anticipated decision, on June 27, 2017, the Supreme Court of Delaware reversed the Chancery Court's ruling in Chicago Bridge v. Westinghouse. The Delaware Supreme Court determined that an independent auditor...more

A&O Shearman

Audit Firm And Engagement Partner Settle SEC Allegations Stemming From 2011 Audit Of A New Client

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On August 15, 2017, KPMG LLP (“KPMG”) and one of its engagement partners settled claims brought by the U.S. Securities and Exchange Commission (“SEC”) that they violated Section 4C of the Securities Exchange Act of 1934...more

McCarter & English, LLP

Delaware Law Updates - 2016 Year in Review

Our Delaware Corporate and Alternative Entity Law attorneys closely followed the opinions coming from Delaware’s Supreme Court and Court of Chancery. Our 2016 Year in Review is a collection of brief summaries of selected...more

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