Public Company Insights
Showing 161–176 of 188 results
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How the SOX 404 exemption affects your company
February / March 2011
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 420
Abstract: The SEC has issued a final rule permanently exempting nonaccelerated filers from Section 404(b) of the Sarbanes-Oxley Act (SOX). This exemption is good news for many smaller public companies, but — as this article relates — not all of them.
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Credit ratings: To include or not to include?
February / March 2011
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 473
Abstract: To promote more accurate credit ratings, a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 has made Nationally Recognized Statistical Rating Organizations (NRSROs) subject to the same liability and consent requirements as other experts. But, as this article explains, the SEC has issued interpretive guidance that clarifies that certain uses of credit ratings continue to be permissible even without the rating agency’s consent.
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Playing catch-up with the SEC
February / March 2011
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 535
Abstract: Over the last few years, some smaller public companies have had trouble keeping up with SEC reporting requirements. The process of preparing and filing missing annual and quarterly reports can be costly and burdensome. This article urges companies in this situation to consider asking the agency for permission to file a single comprehensive annual report on Form 10-K for the current year.
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Revenue recognition – Get ready for big changes
February / March 2011
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 997
Abstract: In June 2010, the Financial Accounting Standards Board and the International Accounting Standards Board issued exposure drafts proposing a new joint revenue recognition standard as part of their project to converge U.S. and international accounting standards. It’s not yet certain when the new rules will take effect, but public companies must begin to evaluate the impact of the proposed standard. This article discusses details of the proposal, while a sidebar offers one example of a company’s goods and services that, under the proposal, would be distinct and, therefore, accounted for as separate performance obligations.
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What to expect from new outsourcing audit standards
Year End 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 397
Abstract: Statement on Auditing Standards (SAS) No. 70 has long provided guidance for CPAs who audit companies that outsource services such as payroll and benefit administration and those who report on service organizations’ internal controls. However, new standards more in line with international standards are on the way. This article describes how Statement on Standards for Attestation Engagements (SSAE) No. 16 proposes to change outsourcing audits.
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Specifics, please – SEC targets generic risk disclosures
Year End 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 390
Abstract: Recently, the SEC recently has expressed a desire for more “targeted” risk disclosures. As this article explains, this means companies should avoid using generic descriptions and boilerplate language in discussions of risk factors that affect their operations and financial performance.
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Handle foreign tax credits with care
Year End 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: The foreign tax credit (FTC) is designed to help prevent double taxation of multinational companies’ foreign source income. But, to restrict or eliminate certain international tax planning techniques, Congress recently placed new limits on uses of the FTC. This article advises companies with foreign income to exercise care to avoid unpleasant tax surprises.
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Wall Street reform: What does it mean for public companies?
Year End 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 993
Abstract: The Dodd-Frank Wall Street Reform and Consumer Protection Act focuses on reforms to the financial services industry, but it also makes several significant changes that affect public companies in general. This article summarizes some of these changes related to proxy access, executive compensation, clawbacks and compensation committee independence. And it provides action steps for companies to take now. A sidebar explains that Dodd-Frank permanently exempts smaller public companies from Sec. 404(b)’s mandate that management evaluate the adequacy of its internal controls over financial reporting.
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When must public companies reveal merger negotiations?
October / November 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 612
Abstract: This article talks about a recent federal court ruling that provides valuable guidance on when public companies must disclose merger negotiations. Once negotiations become material, companies may have a duty to disclose them if failure to do so makes other statements misleading. However, this and other cases reaffirm the principle that public companies have no general duty to disclose merger negotiations, as opposed to merger agreements.
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Health care reform – Safeguarding your grandfathered status
October / November 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 513
Abstract: Although the recent health care reform legislation makes sweeping changes to the U.S. health care system, “grandfathered” group health insurance plans may be exempt from some of the changes. Companies, however, need to be careful not to endanger their plans’ status. This article discusses federal regulations that offer guidance on maintaining grandfathered status and warns of actions that will cause plans to lose this status.
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Recent developments in accounting standards
October / November 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 419
Abstract: In the past six months, there have been several accounting standard developments that affect public companies. This article summarizes proposals by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) regarding common fair value measurement and disclosure requirements; a single revenue recognition standard that would apply across various industries and capital markets; and common standards for financial statement presentation.
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Class conflict – The rights of stockholders can become a board problem
October / November 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 872
Abstract: For directors, satisfying their fiduciary duties to act in the best interests of the corporation and its shareholders is critical. But what if the interests of different corporate constituencies — such as preferred and common stockholders — conflict with one another? This article examines decisions made by the Delaware Chancery and Supreme courts in two separate cases involving the matter of preferred stockholders’ rights vs. those of common stockholders. A sidebar discusses a similar case, in which a board was unable to convince a court that the board’s decision to approve a merger was disinterested.
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Effective whistleblower procedures pay off
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 415
Abstract: In its 2010 study of occupational fraud, the Association of Certified Fraud Examiners reported that three times as many frauds in the study were uncovered by a tip as by any other method. So it pays to go beyond mere compliance and establish a comprehensive complaint-handling process. The procedures should make it easy for employees to make reports, but it’s also essential to follow up, even when tips don’t pan out.
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New IRS schedule would require tax uncertainties disclosure
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 503
Abstract: The Financial Accounting Standards Board’s Financial Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, is part of a trend toward greater financial transparency and accountability. However, it’s been of limited value to the IRS, because it requires disclosure of only aggregate amounts, not itemized details about uncertain tax positions. So, for certain large corporations, the IRS plans to mandate even more detailed disclosures —in essence, ask that companies provide it with a roadmap for identifying potential tax return weaknesses.
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What to do when your stock options are underwater
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 591
Abstract: Although the economy is gradually improving, many public companies’ stock prices remain depressed. In some cases, stock options held by key employees are “underwater” — their exercise price exceeds the stock’s current fair market value. Some companies have responded to the problem by repricing underwater options. But companies considering such a move need to obtain shareholder approval and consider other potential risks and costs.
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How effective is your audit committee?
August / September 2010
Newsletter: Public Company Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 974
Abstract: In the eight years since the Sarbanes-Oxley Act came into being, the audit committee has become directly responsible for appointing, compensating and overseeing external auditors and preapproving auditors’ audit and nonaudit services. Given this critical role, the audit committee should be evaluated periodically. One way is for the committee to perform annual self-evaluations. This article discusses the benefits and risks, along with ways to reduce the downside. A sidebar looks at common approaches to self-evaluation.