We learned of this proposal today and we thought our readers would be interested. This change would have an inpact on the financial reporting requirements for all public companies.
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Tags: Sarbanes-Oxley Articles & Information, audit, 10k, audit scope, PCAOB, SEC
I found an interesting article from intuit relating to IT General Computer Controls (ITGCC) and what is the definition of a minimum requirement for a password to be accepted as 'complex.' According to the article from Intuit:
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Tags: Sarbanes-Oxley Articles & Information, Accounting Tip of the Day, ITGCC, Sarbanes-Oxley, Internal Control Education, internal control tips
The Financial Accounting Standards Board (FASB) and International Account Standards Board (IASB) have proposed that largely all leases be reported on a company's financial statements. The proposal requires that leases be reported on the balance sheet. In the income statement, leases would be recognized under a dual model as either a financing or ratably over the lease term.
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Tags: IASB, best-practice, lease accounting, accounting, FASB
The SEC charged Jenny Copland of South Florida with defrauding investors in a Ponzi Scheme targeting the local Colombian-American community by telling investors that her company Immigration General Services operated through an investment broker that would invest the money she raised in immigration bail bonds and turn a profit.
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Tags: Securities and Exchange Commission, Ponzi Scheme, fraud, SEC
