Page 6 - Audit Analytics News Today

The Big Four bogeyman has haunted the U.S. legal market for years. Like any good horror movie villain, it’s shrouded in mystery. We don’t know when it’s coming, or exactly what will go down, but we know that a four-headed monster of Deloitte, EY, KPMG and PwC is coming after all of the legal work. And it might get really gory. This is not the forum to unpack the web of ethics rules that currently prohibit accounting firms from practicing U.S. law. (Although it’s worth noting that as of ...

U.S. Cross-border Tax Reform and the Cautionary Tale of GILTI Daniel Bunn Key Findings The U.S. joined many other developed nations in adopting territorial provisions and anti-base erosion rules as part of the 2017 tax reform. One major piece of that reform, that is not typical in other territorial systems, is a new definition of currently taxable foreign earnings, Global Intangible Low Tax Income (GILTI), which is taxed at an effective rate of 13.125 percent, with the rate set to increase afte...

Share it When Accelerate Diagnostics last week filed a $150 million shelf registration with the Securities and Exchange Commission (SEC) to signal a possible future share offering, it was one of almost 60 companies to do so in just the first month of the year — the highest in a decade.  Should companies continue to make filings at the same rate as in January, this year could turn out to be record-setting for the tactic. The strategy gives companies the flexibility to raise capital quickly t...

To embed, copy and paste the code into your website or blog: Remember the clawback provision of SOX 304? That provision provides a reimbursement remedy against CEOs and CFOs when the issuer has restated its financial statements as a result of misconduct. Although the provision was enacted in 2002, it wasn’t until 2007 that an executive was successfully hit with a clawback claim (and a big one it was—the executive returned approximately $600 million in cash and options).   And since then, ...

"Many unknowns" in Malaysias economic outlook NST Business © Provided by New Straits Times An August survey Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) noted that 39.4 per cent said they were expecting an L-shaped recovery. NST pix by Asyraf Hamzah. KUALA LUMPUR: Malaysias economic outlook for 2021 is too close to call as there are too many variables beyond its control, said UHY Malaysia managing partner Datuk Alvin Tee Guan Pian. While the outl...