All GLG News Analyses Filed Under: Audit & Forensic Accounting

The  realm of  CDO  valuation has  gained  great  significance  in  the  public  and  accounting  business  landscape  ever  since  two  of  the  Bear Stearns  hedge  funds  had  a ...

Can the international auditing community accept the Yukos situation? What does the PWC withdrawal really mean for international reporting standards? Is Putin and his political machine going to be allowed to interfere with independent auditors?

Life  for  auditors  across  the  globe is  getting  tougher. Technical  areas like fair  value  and  Sarbannes  Oxley seem to be small  matters compared  to  the  impediments to independence. The latest case where a big ...

power breed fraud, people with high authority tend to involved with fraud. people get position of operation and control together tends to involved with fraud. new market, which involved high technology, create fast money tends to attract fraud.

The real challenge for the PCAOB, auditors, and financial analysts is not the lack of expertise.  The real challenge is twofold: 1.    The user of financial statements must be educated and revise their expectations. 2.    The US legal system must ...

PCAOB’s chairman Mark Olson has said of SFAS No.159: "The increased use of fair value accounting poses a challenge for auditors and the PCAOB." Time is short as this SFAS goes into effect for most companies for financial years beginning after November 15, 2007, except for early adopters. The...

The shortage of value–based accounting expertise is real, but only in the sense that financial reporting practice is poised on the brink of a new era in which the volume of useful information is about to increase dramatically.  The issue is how to get more people into the pipeline who understand...

The US accounting profession has long dealt with fair value.  However how US accountants deal wit fair value is first a function of the US legal system.  Until the US legal system changes, the US accounting profession will always have challenges.  Thus the US accounting profession will...

This article is based on “Control Overrides in Financial Statement Fraud” by Robert Tillman and Michael Indergaard of St. John’s University, available at http://www.theifp.org/research%20grants/tillman_final_report.pdf The study examines 834 companies that filed financial restatements between 1997 and...

auditors relied on expert for valuation of assets and liabilities litigation against auditors will be increased auditors should responsible for historical costs since the nature of auditing is checking historical records