Financial Reporting


The GAO releases a report, Trends, Market Impacts, Regulatory Responses, and Remaining Challenges ( www.gao.gov/new.items/d03138.pdf ), which found the number of times public companies restated their financial results due to accounting irregularities rose 145% from January of 1997 through June of 2002. The agency analyzed 919 restatements made by 845 public companies. About 10% of publicly traded companies made at least one such adjustment during this period, according to the study. Improper recognition of revenue was the most frequently cited reason for the restatements.

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.