Category: Compliance
Did Sarbanes-Oxley kill the tech IPO?
In a March 2 CNBC interview, Marc Andressen was asked what one thing Washington could do to increase job creation and innovation in Silicon Valley. He replied by saying “attack regulation” and went on to specifically m…
See MoreEnforcement and executive comp top list at SEC conference
The economy must be picking up, judging by the attendance at last week’s 27th Annual Reporting and FASB forum put on by the SEC Institute. It was a packed house. The two-day seminar was not for the claustrophobic because…
See MoreWhy is a 3-way match important in XBRL?
While speaking at the 2011 Year-End SEC Conference in Phoenix earlier this month, and this week at the same program here in Silicon Valley, an interesting question came up. Despite filers’ efforts to match their HTML fin…
See MoreWill you be ready when XBRL limited liability expires?
The SEC XBRL mandate provides for a period of limited liability of either two years following a filer’s initial XBRL filing date or October 31, 2014, whichever comes first. During this time, XBRL exhibits are deemed as �…
See MoreSizing up material XBRL errors using a 4-D hypercube
When I was presenting at the Silicon Valley Accountants’ Mastering Financial Reporting’s Last Mile conference, this question was raised: “What constitutes a material error in XBRL if the HTML document can be relied u…
See MoreXBRL AUP = quality assurance = market value (CFOs and audit committees take note)
Should you ask your audit committee to evaluate your XBRL files for completeness, mapping, accuracy and structure under an agreed-upon procedures (AUP) engagement in accordance with the principles and criteria set by the A…
See MoreLess is more: the art of XBRL
It’s been observed that detailed tagging can create up to 10 times more tagging concepts than block tagging. Does it mean 10 times the work? It depends. There’s no doubt that detailed tagging creates more complexity, b…
See MoreNot all controls are equal: a fresh look at SOX 404
In my work with smaller companies I’m seeing that there’s still much more they can do to strengthen their control environment, create efficiencies and reduce compliance costs in their SOX 404 program by taking a top-do…
See MoreZynga’s IPO hiccup: why they got it right in the end
We tend to assume the worst when we hear the words “material weakness,” and for public companies required to comply with the Sarbanes-Oxley Act, it’s certainly not good news. But in terms of Zynga’s hiccup last wee…
See MoreDo auditors care about XBRL?
When I talk with finance executives about implementing XBRL, nearly everyone asks, “What will auditors be looking for? Do they care about XBRL?” The answer is no, they don’t. But they do care about your controls, and…
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