Hiller Hardie

Financial Reporting Framework for Small and Medium Sized Entities-New Option

by Hiller Hardie 9. September 2013 12:20
The AICPA recently released a new reporting framework for Small and Medium Sized entities (“SME”). This is a special purpose framework, not to be confused with the Private Company Council initiative, which will provide GAAP based guidelines for private companies. This is a key distinctio... [More]
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Categories: Advisory | Assurance

Captive Insurance Benefits: They may be more attractive and available than you think!

by Hiller Hardie 26. August 2013 14:47
When non traditional risk management programs are discussed, most of our eyes gloss over and we quickly lose interest. However, establishing a captive insurance company is a way to formalize self insurance that may provide significant benefits to the business owner. These benefits include the abilit... [More]
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Categories: Advisory | Assurance

Does Auditor Discussion and Analysis make Sense?

by Hiller Hardie 13. August 2013 14:33
The PCAOB has over the past few years floated the concept of public company auditors expanding their role in financial reporting and disclosure beyond the traditional audit report. Some of the areas mentioned are commentary on the aggressiveness of the client’s accounting and discussion of the... [More]
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Significant Accounting & Reporting Matters - Q1 2013

by Hiller Hardie 12. April 2013 11:54
    BDO’s National Assurance practice has released “Significant Accounting & Reporting Matters” for Q1 2013. The report includes Final and Proposed Guidance (and other related activities) for the Financial Accounting  Standards Board (FASB), the Public Company ... [More]
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Categories: Assurance

NASDAQ Proposes Internal Audit Requirement

by Hiller Hardie 1. April 2013 11:57
  NASDAQ Proposes Internal Audit Requirement The NASDAQ Stock Market LLC (Nasdaq) recently filed with the SEC a proposed rule change that would require all listed companies to establish and maintain an internal audit function. The purpose of the rule change is to ensure management and the aud... [More]
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2012 FASB Year-in-Review

by Hiller Hardie 10. January 2013 16:57
During 2012 the Financial Accounting Standards Board (FASB) spent most of its time working on major projects, including its convergence program with the International Accounting Standards Board (IASB). However, none of them were finalized. For the most part, the Accounting Standards Updates (ASUs) ... [More]
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Dealing with the Foreign Corrupt Practice Act and the "Tone at the Top"

by Hiller Hardie 29. August 2012 10:45
The SEC and DOJ have been very active in investigating and prosecuting Foreign Corrupt Practices Act (“FCPA”) related matters of late. Pfizer, Teva Pharmaceuticals, Las Vegas Sands   and Avon are some of the more well known companies that have recently received negative press r... [More]
Categories: Assurance

Growth Companies or Empty Shells?

by Hiller Hardie 22. June 2012 11:00
    Two months after the JOBS Act was introduced, many “emerging growth companies” that benefit by reduced SEC and Sarbanes-Oxley compliance burdens, have practically zero employees. According to the Wall Street Journal, a large portion of the companies benefitting from reduc... [More]
Categories: Advisory

The JOBS Act: Trading IPOs for Blind Spots

by Hiller Hardie 26. April 2012 15:55
The Jumpstart Our Business Startups (JOBS) Act was passed into law on April 5, 2012. It encourages private companies to complete IPO’s by giving them reporting relief if they qualify as an emerging growth company (EGC). EGCs have less than $1 billion in revenue and $700 million in publicly tra... [More]
Categories: Advisory

House Approves Some SOX Relief for Issuers < $1B

by Hiller Hardie 14. March 2012 11:00
  The House recently approved a measure aimed at creating jobs and easing the regulatory burden on smaller businesses.   A major component of this bill exempts small and mid size businesses initiating public offerings from some key provisions of Sarbanes Oxley.  As drafted, pros... [More]
Categories: Assurance