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Asset Impairment and Other Financial Reporting Considerations Surrounding COVID-19

April 2020 COVID-19 is affecting all aspects of business operations.  In addition to the disruptions in day to day activities, the circumstances, requirements and deadlines for financial reporting continue to evolve.  Effective dates for implementation of many regulatory updates have been delayed and auditors’ ability to gather evidence and perform the fieldwork associated with issuing [...]

2020-04-07T15:24:35-07:00Current Events, Other|

Audit Report Discloses $4.2 Billion Annually Is Paid To Illegal Aliens Through A Refundable Tax Credit, With Practically No Offsetting Tax Revenues

September 2011 Undocumented workers in the United States received refundable tax credits totaling $4.2 billion in 2010, an amount which is dramatically higher than occurred previously.  An audit by the Treasury Inspector General for Tax Administration recommended changes in how these payments are made.   The IRS dismissed the recommendations, saying (without support) that they did [...]

2019-02-28T12:48:53-08:00Current Events, Other|

Litigation: NASD Proposes Modified Arbitration Rules

May 2006 This month, the National Association of Securities Dealers (NASD) filed with the Securities and Exchange Commission (SEC) changes to its Code of Arbitration Procedure.  The changes are intended to simplify and reorganize the language/rules. The proposal makes the following changes: Divides the current Code into three separate codes: the Customer Code, the Industry [...]

2019-02-28T10:05:27-08:00Current Events, Other|

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