SEC whistleblowing tips highest in three years

http://www.reuters.com/article/2014/11/18/us-sec-whistleblower-idUSKCN0J220620141118 For Fiscal year 2014, this was the highest year of whistleblowing tips.

Independence alert for non-broker dealers and SEC-registered and state registered investment advisers

http://www.journalofaccountancy.com/News/201411389.htm In a joint alert, the CAQ and AICPA focus on independence rules for certain nonissuers.

The Fraud-resistant organization

http://www.journalofaccountancy.com/News/201411371.htm Check out this report released to show the traits of fraud resistand organizations, and the responsibilities for those in roles of the financial reporting supply chain.

Audit committee effectiveness

http://www.cgma.org/magazine/news/pages/201411364.aspx This short article includes ingredients that were discussed at the 2014 World Congress of Accountants about effective audit committees.

Whistleblowers can be costly

http://www.complianceweek.com/blogs/enforcement-action/study-whistleblowers-are-even-more-costly-than-you-thought#.VGOW5PnF9Np See this article highlighting recent research.

Tesco accounting scandal

http://www.telegraph.co.uk/finance/comment/11214948/Unanswered-questions-in-Tescos-accounting-scandal.html Interesting wording that PWC had included around "potential for manipulation". Revenue and collection of impairment issues are both addressed in this article. The SFO (Serious Fraud Office) has its hands full.

SSARS 21 a significant revision to nonaudit standards

http://www.journalofaccountancy.com/News/201411156.htm The use of cloud technology has blurred the lines of who prepared the financials. This standard attempts to provide guidance in the area of accounting and reviews, preparation, and compilation, with inclusion of sections 60, 70, and 80 respectively. Implementation date is for periods ending on or after 12/15/15 although earlier implementation is encouraged for those smaller firms seeking efficiencies.