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As we initially reported in our August 22, 2005 Legal Update, Grant Date of Equity Awards under FAS 123R, the Financial Accounting Standards Board and at least one "Big 4" accounting firm recently questioned the prevailing approach to valuing "equity instruments (e.g., stock options, restricted stock, etc.) and suggested that this approach might not pass muster under Financial Accounting Standards Statement No. 123R.

Anti-money laundering exposure in casinos often stems from breakdowns in reconciliation, reporting, or oversight — not just suspicious patrons.

In December 2004, the Public Company Accounting Oversight Board (PCAOB) adopted and approved rules requiring that audit firms DO NOT prepare the tax returns or provide tax planning advice to corporate executives involved in the company financial oversight role.

On November 18, 2005, the Senate approved S. 2020, The Tax Relief Act of 2005 , a vast piece of legislation addressing issues ranging from tax relief to the hurricane-ravaged Gulf Coast, to expiring tax provisions, and offsets. Notable among the Act’s copious provisions are those involving the charitable sector and specifically, sections aimed at the prevention of abusive tax practices involving exempt organizations.

If an employee is suspected of stealing assets or cooking the books, it may be time for a forensic accounting investigation.

The Financial Accounting Standards Board ("FASB") and the International Accounting Standards Board ("IASB") are proposing dramatic changes to lease accounting rules that would virtually eliminate operating lease accounting treatment.

In the last few weeks of the year, employers may wish to review their compensation arrangements (including traditional nonqualified deferred compensation plans, discounted stock options and other covered arrangements) that are subject to Section 409A of the Internal Revenue Code to determine whether any last-minute compliance is required.

For years, revenue recognition was the primary issue cited in allegations of accounting fraud, whether in enforcement investigations or securities litigation.

After years of litigation, your company has secured a judgement that your opponent will not pay. Your borrowers have defaulted, and the value of the collateral has collapsed.

On October 25, the Federal Energy Regulatory Commission ("FERC") initiated a formal inquiry into whether scheduling and compensation provisions in the tariffs of six independent system operators ("ISOs") and regional transmission organizations ("RTOs") are appropriate for periods when natural gas supplies for essential electric generation facilities may be constrained or gas prices are volatile.

For the first time, in FASB Interpretation Number 48, Accounting for Uncertainty in Income Taxes, the Financial Accounting Standards Board has prescribed specific rules governing financial accounting for uncertain income tax positions.

In mid-November, the SEC announced its enforcement results for fiscal year 2023, which included the second-highest disgorgement total in history at approximately $3.4B.

A new law has been enacted in Mexico that has significantly changed the provisions of Article 142 of the Mexican Industrial Property Law locally known as MIPL, which is the primary law specifically governing franchising in Mexico. By decree published on January 25, 2006, which became effective January 26, 2006, Article 142 now not only sets forth the broad parameters for disclosure and possible registration of Franchise Agreements in Mexico, but includes relationship law elements that were previ

Lawyers often have expressed or implied fiduciary oversight responsibilities in connection with the "family office" of wealthy individuals, families and private foundations. The term "family office" is commonly used to refer to financial services needed by or provided to wealthy or aging families.

When allegations of fraud, misconduct, or other illegal acts arise, internal investigations — often led by in-house counsel in coordination with external advisors — play a central role in a company's response.

It is no surprise that financial issues are among the most contentious in divorce actions. The financial aspects associated with marital disputes and dissolution are often complex and consume most of the effort and attention of the parties.

Forensic accounting is a specialized field within accounting that involves the utilization of investigative techniques to uncover financial discrepancies, fraud, or other irregularities...

On February 2, 2006, the Federal Energy Regulatory Commission (the “Commission”) issued final rules to implement Congress’ mandate in the Energy Policy Act of 2005 to provide for a system of mandatory, enforceable standards to assure the reliability of the bulk power system. (Docket No. RM05-30-000; Order No. 672.) These rules address the certification of an Electric Reliability Organization (an “ERO”) and the procedures for establishment, approval and enforcement of mandatory electric reliabili