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Public Sector Pioneer Network Announced

Encouraging a unified yet efficient approach to corporate reporting within the public sector, the Chartered Institute of Public Finance and Accountancy (“CIPFA”) and the International Integrated Reporting Council have created the Public Sector Pioneer Network (“the Network”). Managed by a group of participants and organizations, the Network will help recognize sector specific facets for integrated reporting, as well as aid reporting for companies in the public sector. Additionally, the Network will provide a wide range of experience and practice that allows the global public sector to take part in the report integration process. Click here to read the Network’s press release. For. Read More.

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NYSE Receives Fine for Trading Violations

Without acknowledging or denying allegations brought forth by the U.S. Securities and Exchange Commission (“SEC”), the New York Stock Exchange LLC (“NYSE”; “the Exchange”) and three affiliates have agreed to pay a $4.5 million fine. Announced on May 1st, the SEC claimed the NYSE and its affiliates violated numerous operating rules and securities laws. Per the complaint, NYSE Arca Inc. purportedly created an “error account” in 2005 before the NYSE merged with affiliate Archipelago Exchange a year later. This was seen as a violation due to the transaction occurring before the market regulator approved the account. Further, the SEC claimed. Read More.

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Conflict Minerals’ Effective Date Gets a Stay

Announced on May 2nd, the U.S. Securities and Exchange Commission (“the Commission”; “SEC”) issued a stay of the effective date for companies to comply with parts of its final rule, Conflict Minerals. The stay affects parts of Exchange Act Rule 13p-1 and Form SD, which mandates public disclosure of a company’s use of conflict minerals from the Democratic Republic of the Congo or neighboring countries. Due to last month’s decision by the Court of Appeals for the District of Columbia Circuit (“the Court”), such disclosure was ruled as violating the First Amendment. As companies move forward applying the final rule. Read More.

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SEC Approves Amendments to PCAOB Rules

With most taking effect June 1st, amendments to the Public Company Accounting Oversight Board’s rules (“PCAOB”; “the Board”) conforming to the Dodd-Frank Act have been approved by the U.S. Securities and Exchange Commission (“SEC”). Adopted by the PCAOB, the rules reference audits, and auditors of brokers and dealers in the Board’s provisions. Further, the rules make certain that the PCAOB can carry out its oversight power, which was established under the Dodd-Frank Act regarding audits, and auditors of brokers and dealers registered with the SEC. The amendments include provisions such as: Adding references to audits and auditors of broker-dealers in. Read More.

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