News & Analysis as of

Sarbanes-Oxley Accounting Standards

BakerHostetler

SEC Approves PCAOB’s Rule Expanding Contributory Liability

BakerHostetler on

For nearly two decades since its enactment in 2005, PCAOB Rule 3502 prohibited any “person associated with a registered public accounting” firm from taking or omitting to take an action knowingly or recklessly in a way that...more

WilmerHale

Making the Connection - What Do Recent SEC Enforcement Actions Mean for Cyber Controls?

WilmerHale on

On July 18, 2024, the U.S. District Court for the Southern District of New York dismissed most of the claims brought by the Securities and Exchange Commission (the “Commission”) against SolarWinds Corp. and its Chief...more

Cornerstone Research

PCAOB Enforcement Activity in 2023 Reached its Highest Level Since 2017 as Monetary Penalties Nearly Doubled Previous Record

Cornerstone Research on

The Public Company Accounting Oversight Board (PCAOB) expanded its enforcement activity to the highest level since 2017, according to a new report released today by Cornerstone Research. Monetary penalties imposed by the...more

Polsinelli

Sarbanes-Oxley Turns 20: A Look-Back to See Ahead

Polsinelli on

The Public Company Accounting Reform and Investor Protections Act of 2002, commonly known as the “Sarbanes-Oxley Act,” or “SOX” for short, has been in effect for twenty years, and as we celebrate the Act’s platinum...more

WilmerHale

CAQ Expands CECL and ICFR Resources

WilmerHale on

Last week, the Center for Audit Quality released two new resources—an updated Guide to Internal Control over Financial Reporting (ICFR Guide) and a new Tool for Audit Committees: Preparing for the New Credit Losses Standard...more

Troutman Pepper

To IPO, Or Not to IPO, That Is the Question - How to prepare for and execute a successful public offering

Troutman Pepper on

More than ever, life sciences companies are going public to raise capital for future growth. In fact, U.S. equity financing in life sciences skyrocketed to a record $7 billion in 2018—a 69 percent jump over the year before. ...more

Stinson - Corporate & Securities Law Blog

SEC Comments Begin for Early Adopters of Revenue Recognition

Some people don’t believe in blazing trails and adopting public reporting standards before you have to. They think you’re sticking your neck out, and will become a Guinea pig for SEC comments or fodder for plaintiff’s lawyers...more

Thomas Fox - Compliance Evangelist

New Revenue Recognition Standard – Part VI: What Does Mean?

Over several blog posts, I have explored in detail the new Financial Accounting Standards Board (FASB) Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), which set forth a new Revenue...more

Thomas Fox - Compliance Evangelist

New Revenue Recognition Standard – Part I: Introduction

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) for public business entities, certain not-for-profit entities, and...more

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