PICPA Boards and Blogs

By Dmitri D. Shiry, CPA Section 404 of the Sarbanes-Oxley Act was designed to have a long life. Like anything with an extended life cycle, it seems the regulation is growing and maturing with age. Auditing Standard No. 5 (AS 5), a new rule from the PCAOB, may change how Section 404 is perceived by corporate America and acted upon by management ...

By Dennis G. Raible, CPA Regulators at the Securities and Exchange Commission (SEC) have been keeping watch the last several years for the backdating of stock options. Nationwide, more than 140 companies are under investigation by the SEC and the Department of Justice (DOJ) for possible exploitation of employee stock option rules.1The SEC first ...

By Vijay R. Chemuturi, CPA Statement of Auditing Standards No. 99 (SAS 99), Consideration of Fraud in a Financial Statement Audit, requires auditors to consider fraud risk factors at various stages of an audit of financial statements. It also requires the auditor to assess such identified risks and respond to them by performing procedures that ...