From the Sarbanes-Oxley Act of 2002 (SOX) to Dodd-Frank to the JOBS Act in 2012, you know that your company’s regulatory landscape changes rapidly and we do too. Keeping up with new regulation is not an easy task, but you can be sure that our firm is well-versed in the most current audit and attest service needs of your company. Some of our credentials include:
Our partners are actively involved with a variety of professional organizations including state boards of accountancy and boards of CPA state societies, which gives our professionals the most up-to-date information regarding the challenges facing your industry and its changing business risks. Our involvement in these organizations also provides valuable resources for our professionals and our clients. As a publicly reporting entity, there are a number of services that you may need, including:
Access to Capital Markets and Underwriters/Advisors
Our clients are represented on all U.S. markets. As a member firm of UHY International, we can provide our clients with resources in business centers strategically located around the globe.
Our audit clients successfully access the capital markets, due in part to:
Our clients also grow successfully through mergers and acquisitions with the same excellent assistance from us. We are focused on helping our clients achieve their strategic growth goals.
The Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2017-01 in order to have more consistent application of accounting principles relating to business and asset acquisitions and disposals. The ASU aims to achieve this by clarifying the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses.
In March 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting,
The update affects all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence.
In 2015, the Financial Accounting Standards Board (FASB) drafted an updated lease accounting standard to recognize lease liabilities on the balance sheet with corresponding right-of-use assets. In May 2013, The FASB issued a proposed Accounting Standards Update, Leases (Topic 842). Since the proposed standard was issued, FASB deliberated proposals in the May 2013 Exposure Draft. Recently, the Board updated the Standard for two items: an exception to the lease classification test and an effective date for adoption of the standard.
At its Dec. 15, 2015 meeting, the Public Company Accounting Oversight Board (PCAOB) adopted new rules that provide audit firm transparency to public company investors. The rules require audit firms to disclose information regarding certain audit participants in public company audits.
On December 20, 2013, the Securities and Exchange Commission ("SEC") issued a staff report to Congress regarding its disclosure rules for US public companies (Regulation S-K), which was mandated by Congress in the Jumpstart Our Business Startups ("JOBS") Act of 2012 and provides a framework for disclosure reform.