Independent Audits of Nonprofit Organizations With Douglas Cook
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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