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 …
SEC Staff is Playing Catch-Up Reviewing SPAC Filings
SPACs are everywhere these days. This also means the SEC’s disclosure review team is playing catch-up to make sure their …
Internal IRS Guidance Explains How to Audit Partner Liquidating Distributions
IRS Large Business & International (LB&I) has released an updated Practice Unit on issues related to liquidating distributions of a …
Former PCAOB Advisers Urge SEC Chair Gensler to Reform Audit Regulatory Board
A dozen former members of the PCAOB’s now-abolished Investor Advisory Group (IAG) urged new SEC Chair Gary Gensler to restore …
As PCAOB Seeks New Adviser Nominations, Some Criticize Advisory Group’s Charter
The audit regulatory board—the PCAOB—is currently soliciting nominations for its new Standards Advisory Group (SAG) established last month, but some …
Former Senior Officer Sues PCAOB for Wrongful Termination
Sue Lee, formerly a senior officer at the PCAOB, filed a lawsuit against the audit regulatory board and its Chairman …
Racial Slur Propels GASB to Mull Renaming Comprehensive Annual Financial Report
By Denise Lugo The GASB added a project this month to its agenda to consider renaming the Comprehensive Annual Financial …
SEC Relaxes Auditor Independence Rules
By Soyoung Ho SEC Commissioners Allison Herren Lee and Caroline Crenshaw said in a joint statement that they voted against …
PCAOB Member Brown Calls Revised Agenda ‘a Tragic Mistake’
By Soyoung Ho PCAOB member Jay Brown said he does not support the board’s recently revised standard-setting and research agendas …
ESG Reporting is All the Rage, but Companies are Unsure About Which Reporting Standards to Use
By Soyoung Ho Investors in the past several years have been asking for companies to provide more information on environmental, …