Well . . . this news item is different, so here it is.  Click on the following link: www.cgma.org

Enjoy.  Dave Tate, Esq. (San Francisco / California)

There are so many ways of communicating to do business, and that creates challenges for companies trying to navigate investigation and enforcement under the …

Click on the following link for the article – points 3 and 4 are helpful reminders: www.corpcounsel.com

Dave Tate, Esq.

Click on the following link for the article: privacyassociation.org

New SSARS No. 21, new standards for accountants performing compilation and review engagements. Click on the following link for the article: www.aicpa.org.

Instead of the AICPA addressing the changes to and for accountants, I would like to see a discussion about the benefits that compilations and reviews provide.  The following discussion is somewhat dated – I will be updating it for SSARS No. 21 – however, it will help you begin to understand what compilations and reviews are, and the benefits that they can provide to executive officers, boards and audit committees, and other stakeholders: Compiled_and_Reviewed_Financial_Statements_Dave_Tate_CPA_Esq

Click on the following link for the full article: www.linkedin.com

Interesting discussion about the new revenue recognition rules, restatements, and clawbacks.  As we have discussed, the new revenue recognition rules are much more principles based and generally lack the specifics that we have gotten used to.  I don’t necessarily conclude, however, that the new rules will result in a greater number of restatements – instead, CFOs and audit committees should be communicating with their outside independent auditors so that they are on the same page as the new revenue recognition rules are being implemented, and as the new rules lack specifics there might also be greater flexibility in application.

Dave Tate, CPA, Esq. (San Francisco / California)

Click on the following link for the article: auditandrisk.org.uk

Internal audit can offer considerable assistance to executive officers, the board and board committees such as audit and risk; however, that assistance is significantly dependent on the structure, charter, agenda and qualifications of the internal audit function, how executive officers and the board use the internal audit function, the manner in which internal audit reports to and communicates with executive officers and the board, and regulatory requirements relating to the internal audit function and how those regulatory requirements are enforced.  I do agree with the article that this is a time of tremendous opportunity for internal audit, but only time will tell.  Whether or not that opportunity is achieved significantly depends on efforts by internal audit professional organizations to get the word out.

Dave Tate, Esq. (San Francisco / California)

Editor’s Note: John Wilcox is chairman of Sodali and former Head of Corporate Governance at TIAA-CREF. This post is based on a Sodali publication by Mr. Wilcox.

To demonstrate their effectivenes…

Source: Click on the following link for the article: blogs.law.harvard.edu

This is a very difficult topic. If directors communicate with shareholders, which director or directors? Are the communications in violation of securities laws? Does the director know how to handle forward looking communications? Does the director know how to handle communications in general? What if the director says something wrong, or in a manner that was received in a manner that wasn’t intended? What topics should the director address or talk about? Why not just have the CEO discuss the topics? And the list goes on and on. It might be that director communications with shareholders become commonplace or expected, but there are many questions that need to be answered first.

Dave Tate, Esq.

It’s a common saying that one day all our jobs will be done by robots, but top executives may not have expected their position in the C-suite to be under threat so soon.

Source: click here for a link to the article

An interesting discussion.  The answer is “no.”  However, guidelines, processes or algorithms can help with the decision making in many situations, particularly compliance and risk management.

Dave Tate, CPA, Esq.

Click on the following for the article discussion: iaonline.theiia.org

Good discussion for consideration.  See the 5 interview questions at the bottom. Broad questions, to be sure.  It is a two way street: ask internal audit, “how can internal audit help” / and ask the board and its committees and senior management, “how would you like internal audit to help”?  Dave Tate