77 results found

Unbiased analysis is paramount in forensic accounting.

Questionnaire continues trend of increased IRS scrutiny of tax-exempt bond post-issuance compliance, particularly record retention practices.

The Financial Accounting Standards Board (FASB) has once again waded into the sensitive subject of disclosure of loss contingencies by proposing new standards for required disclosures of possible losses and liabilities (the 2010 Exposure Draft).

The United States Department of Justice (DOJ), in a departure from past custom, has begun to give meaningful credit, and even some positive publicity, to businesses whose compliance programs were effective in detecting violations of law.

The Basel Committee on Banking Supervision ("Basel Committee") published guidance on compliance and the compliance function in banks (the "Guidance"). The Guidance describes "compliance risk" as the "risk of legal or regulatory sanctions, material financial loss, or loss to reputation that a bank may suffer as a result of its failure to comply with laws, regulations, rules, related self-regulatory organization standards, and codes of conduct applicable to its b

Private companies, family-owned businesses and employee stock ownership plans (ESOPs) face unique challenges when conducting internal investigations. Unlike their public company counterparts, these types of businesses...

The United States District Court for the Southern District of New York recently dismissed the complaint filed by the Securities and Exchange Commission (SEC) against Siebel Systems, Inc. and two of its officers for alleged violations of Regulation FD. This is the first federal court decision to interpret Regulation FD.

This last article in a series of four articles on Federal Supply Schedule ("FSS") contracts is by no means the least. A contractor may comply in spades with the contract requirements, but if the contractor is unable to prove such compliance in an audit, the contractor may be subject to unwarranted liability. This article provides a broad overview of the audit and record retention requirements of FSS contracts.

In my previous article, I discussed the critical need for business owners to have their business valued by a professional appraiser.

Any "U.S. Person" having a financial interest in or "authority" over a foreign financial account during a calendar year is required to file an information report with the U.S. Department of the Treasury by June 30 of the following year.

Financial statements play an integral role in business as well as a multitude of legal matters, including, but not limited to, bankruptcy, mergers and acquisitions, shareholder disputes, fraud and class action activities.

Divorce proceedings involving significant or complex assets are rarely straightforward. Beyond the emotional and legal dimensions, these cases often hinge on a clear and defensible understanding of financial reality.

As anticipated, the Securities and Exchange Commission and the Public Company Accounting Oversight Board each has acted unanimously on outstanding proposals to reform and harmonize their guidance to public companies and public company auditors on compliance with the mandates of Section 404 of the Sarbanes-Oxley Act of 2002 for management assessments of internal control over financial reporting and ICFR audits.

On June 4, 2007, the United States Supreme Court rendered its opinion in Safeco Insurance Company of America v. Burr.

Since its enactment in 1959, the Labor-Management Reporting and Disclosure Act (LMRDA or "the Act") has required employers and labor unions alike to file annual reports disclosing certain financial transactions relating to unions.

Companies confront a broad scope of risks, from compliance matters and regulatory risk to threats to the business itself and to its reputation.

Regardless of the nature of the investigation, it is vital that it be conducted efficiently, with attention to preserving attorney-client privilege.

In the wake of corporate scandals and high-profile prosecutions, many companies have avoided prosecution or have otherwise negotiated reduced sanctions in recent years by cooperating with prosecutors or regulators and entering into agreements that often include accepting a monitor.