Fraud


The SEC is investigating more Fortune 500 companies for financial fraud than ever before and the market impact of failed corporations is growing, said Charles Niemeier, chief accountant of the commission’s division of enforcement, at the annual AICPA conference on current SEC developments. Until recently, the SEC rarely investigated large companies for questionable accounting and financial reporting practices, he said. Niemeier also noted more informants are sending the SEC reports of potentially fraudulent financial activity, criminal authorities are working more closely with it on investigations and the commission is paying greater attention to the quality of audits accountants in foreign jurisdictions perform of U.S. companies’ overseas operations. ( www.sec.gov/news/speech/spch529.htm )

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Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

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Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.