Is SEC Making Audit Regulatory Board Too Political?
When SEC Chair Gary Gensler in early June 2021 abruptly fired embattled PCAOB Chairman William Duhnke and said all five …
Accounting Profession Says SEC ESG Rulemaking Should Leverage Work Done By Private Standard-Setters
Judging by comment letters filed with the SEC, the accounting profession seems to be coalescing around an environmental, social, and …
Top 5 Accounting Issues to Master to Avoid Snags in SPAC IPOs
Use of Special purpose acquisition (SPAC) vehicles have spiked over the past year because private equity and venture capital firms …
Senate Bill would Open up PCAOB Disciplinary Proceedings
Sen. Jack Reed, a Rhode Island Democrat, on June 10, 2021, reintroduced legislation to allow the PCAOB to open up …
Over 30 Organizations and Individuals Press SEC Chair Gensler to Fix Broken Financial Reporting Infrastructure
More than 30 organizations and individuals are pressing SEC Chair Gary Gensler to overhaul the financial reporting infrastructure, including the …
House Hearing Finds Broad Agreement on Need for SPAC Liability Reforms
Witnesses at a May 24, 2021, House Financial Services subcommittee hearing broadly agreed on the need for reforms to liability …
Rep. Brad Sherman on FASB, GameStop, Archegos, and China
As chairman of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee of the House Financial Services Committee, Rep. Brad Sherman …
SPACs, Others Get New, Easier Accounting Rules for Some Warrants
The FASB on May 3, 2021, published a narrowly tailored accounting standard that makes it easier to report about written …
Denying Claims of Unlawful Termination, PCAOB Countersues Former Senior Officer
The PCAOB and its chairman William Duhnke countersued Sue Lee, a former senior officer of the audit regulatory board who …
Senate GOP Bill Would Require New SPAC Disclosures
Sen. John Kennedy, a Louisiana Republican, on April 29, 2021, introduced legislation directing the SEC to impose new disclosure rules …