Hong Kongs SFC Fines Company $2.7 Million

Posted by Alexa Foxon May 31, 2016
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Tags: Internal Controls, best-practice, internal audit, Hong Kong, deficiencies, future trading, SFC, China, Fined, compliance, Compliance in China, accounting, securities and futures commission, short sales, internal controls failures

PwC Point of View on FASB and IASB Proposal For Lease Accounting

Posted by Juliette Gibsonon October 9, 2013

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

Should you Disclose your Social Media Content?

Posted by Alex Roweon March 27, 2013

Social media has previously not been an issue when it came to your SEC or other public filings, but that may be changing...  

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Tags: Internal Controls, social media, best-practice, FINRA, disclosure, Vibato, SEC, Division of Investment Management

Accounting Tip of the Day! Secure Network Solution

Posted by Alex Roweon March 18, 2013

Accounting Tip of the Day!

External Network Access Tip:

At times, external users may need to access your secure network (think onsite auditors who may need to use a printer or the like). This presents a Sarbanes-Oxley COBIT compliance problem as well as introducing your network to the potential hazards of a virus or a computer without a firewall. Since it can be very difficult to keep track of internal vs. external devices on your network on a day-to-day basis, we at Vibato and AccountingTemplates.com have come up with a nice solution to help mitigate the risk while providing a solution for companies with limited staff to help manage this problem. 

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Tags: Accounting Tip of the Day, SOX, best-practice, sox compliance, accountingtemplates.com, secure network, external network, Vibato, accounting, firewall

Internal Control Alert on Related Parties & Unusual Transactions

Posted by Teresa Bockwoldton February 28, 2012

There was a new PCAOB alert today that everyone should know about. Here are the details:

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Tags: Internal Controls, best-practice, PCAOB, internal control tips, Close Best Practices