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In November 2021, Audit Analytics posted its 20-year review of restatements, showing that the number of “Big R” reissuance restatements in 2020, the last year of the review, was at a...
Ideagen acquires Audit Analytics, Ai XPRT
Investegate announcements from Ideagen PLC, Acquisitions of Audit Analytics and Ai XPRT
REGISTER NOW A warning from the Securities and Exchange Commission about accounting for the warrants used by special purpose acquisition companies has prompted hundreds of them to issue financial restatements. SPACs, also known as blank-check companies, have become an increasingly popular way for companies to go public by merging a privately held business with a shell company that files for an initial public offering. The SEC issued a statement in April saying that many of the SPACs had been accounting for warrants improperly as equity when they should have been accounting for them as liabil...
POGO Urges New SEC Chair to Reform the Audit Industry May 26, 2021 Dear Chair Gensler: Congratulations on your recent confirmation as chair of the Securities and Exchange Commission (SEC). I write to you on behalf of the Project On Government Oversight (POGO) to provide several recommendations for the Public Company Accounting Oversight Board (PCAOB) that the commission can implement immediately on its own, and several where the commission can work with Congress to strengthen the laws governing this oversight system. These reforms will help President Joe Biden deliver on his promises to ens...