All GLG News Analyses Filed Under: Audit & Forensic Accounting

Valuation of a target company when question of acquisition arises do not necessary depends on the contemporary valuation models. There has been number of cases of recent acquisition cases where the value paid by the acquirer defied all valuation logic. This phenomenon does not necessarily implies...

Is it not time to recognize that acquisitions are not priced at tangible assset values? How do fair value and the tax treatment of asset purchase allocations get reconciled? We need a pragmatic approach.

Restatements are not triggered by Sarbanes-Oxley but are caused by management’s financial statement errors, either deliberate or inadvertent.  Thus, any arguments that restatements are unimportant are fatuous.  These opponents are asserting that it’s suitable public policy to allow managers...

The Public Company Accounting Oversight Board (PCAOB) recently released a report discussing the most serious and common problems it found during its first three years of inspections of “smaller” U.S. public accounting firms.  The "Analysis" section below lists the 11 problem areas the PCAOB...

Since FASB itself is now attempting to “codify” GAAP, perhaps in the same fashion as the tax-code, or even the Uniform Commercial Code (UCC), the role of pre-application and rules-determination will approach the practice of law - as distinguished from the practice of accounting – to preliminarily ward-off...

The SEC  has  formed  a  committee  to  look  at  ways  to  simplifying financial reporting. In this analysis I  look  at  what  steps  may  be  taken   to simplify  financial reporting and make eminent...

The  real issue is who is the professional actually responsible to in the role he/she is paid to perform. One cannot lump all professionals together, as auditors and general council for example have very different roles. The bottom line is the professional must act true to the expectations...

If the courts decide that it's acceptable for lawyers to know their client is fleecing shareholders, they are not liable, the implications are deeper than just business. When fraud is perpetrated and accomplices are silent and even protected, it corrupts the fabric of responsibility towards employees,...

Auditors  are having  a  tough  time. The PCAOB  is  behind  their  backs  and  auditors  who normally  report  on  the  faults  of  clients  now  have  to  contend  with  having ...

Real world and magic world, seem the real world give too much pain and sorrow but the magic world give the same. Harry Potter give hope to children and adult alike, the power to fight against evil. Harry Potter in the book fighting for his and friends live, out the book publisher and book seller fighting...