SEC Update
Public Company Accounting Oversight Board
• Securities and Exchange Commission has approved PCAOB Auditing Standard No. 4
• A roundtable May 10, 2006, will be sponsored by the SEC and the public company accounting oversight board to discuss second-year experiences
SEC Developments
• SEC proposes changes to disclosure requirements
• SEC offers incentives for public companies to file financial data in XBRL
Other Developments
• Guidance for smaller public companies reporting on internal control over financial reporting - COSO Exposure Draft
Public Companies Services
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Sarbanes-Oxley Section 404
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Internal Audit Services
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IT Governance
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Compliance Services
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Net Operating Loss Studies
• Business Process Improvement
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Pension Plan Audits
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Due Diligence
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Tax Services
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Technology Risk Services
As one of the
Best Places to Work in NJ, Amper is one of the largest independent CPA,
accounting,
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auditing firms in the New Jersey, Pennsylvania and New York region.
 Articles
International
Financial Reporting Standards —
Is the World Ready for Convergence?
Giving International Financial Reporting Standards One Voice
Accounting Standard 5:
A Kinder, Gentler Compliance Standard
What Private Companies Need to Know About Internal Controls
Who Audits America?
The Reality of the CPA's Role
SEC Update Spring 2006
Relief From Section 404 Compliance For Smaller Public Companies
White Paper on Stock Option Backdating
When it comes to Participant Deferrals - Fiduciaries Beware - Don't Be Late
The Changing Audit, Practical Accountant Magazine
Staying in Control
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SEC Update
Spring 2006
To Our Valued Clients and Friends:
The following recent developments are among those we are currently discussing with our
public company clients today:
Public Company Accounting Oversight Board
- Securities and Exchange Commission has approved PCAOB Auditing Standard
No. 4, reporting on whether a previously reported material weakness
continues to exist
- The Public Company Accounting Oversight Board and the Securities and
Exchange Commission will sponsor a roundtable May 10, 2006, to discuss
second-year experiences
SEC Developments
- SEC proposes changes to disclosure requirements concerning executive
compensation and related matters.
- SEC offers incentives for companies to file financial data in XBRL
- SEC guidance addresses classification and measurement of warrants and
embedded conversion features under EITF 00-19, accounting for derivative
financial instruments indexed to, and potentially settled in, a company's
own stock
- SEC staff position regarding changes to the statement of cash flows relating
to discontinued operations (CPCAF Alert #90)
Other Developments
- COSO Exposure Draft, guidance for smaller public companies reporting on
internal control over financial reporting, with final guidance likely by April
International Developments
- Continued convergence of International and U.S. reporting standards
If you would like to address any of these issues, or other issues affecting public companies,
please call Larry Gray or David Capodanno at (732) 287-1000 or your Amper representative.
We look forward to assisting you.
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