Trackable mass transit and insider trading

Careful about the data trail. http://www.complianceweek.com/sec-uses-data-from-defendants-metrocards-to-build-insider-trading-case/article/313233/

Firtst time for FDIC to target the auditor

FDIC and the independent auditor  http://professionalliabilitymatters.com/2013/09/26/a-first-of-its-kind-fdic-v-independent-auditor/#!

Proposal to included individual names in audit reports

The proposal is expected by PCAOB before yearend.   Stepping up disclosures is a theme of this piece, which also discusses the International Audit Assurance Standards Board's upcoming related work.   http://blogs.wsj.com/cfo/2013/09/13/auditor-reports-headed-for-new-disclosure-era/

Questions and answers on comfort letters

Or third party verification letters.   Solvency is just one item to be careful about.   This article and links therein provides guidance to accountants who are wondering about what they can do for or on behalf of their clients.

http://blog.aicpa.org/2013/08/that-comfort-letter-request-may-really-be-a-third-party-verification.html

Proposal to extend SEC statute of limitations

for fraud.   When to begin? Discovery or violation?  http://www.complianceweek.com/sen-reed-working-with-sec-to-craft-legislation-doubling-statute-of-limitations/article/307586/

Internal audit oversight

guidelines are discussed in this article.  http://www.journalofaccountancy.com/Issues/2013/Aug/20137713.htm

Blame the internal auditor

That is in part what this report on the bankrupt city of Stockton CA contains.  Some blame for an internal auditor who retired prior to the bankruptcy.   However, let's not forget that one internal auditor is part of an overall city culture.   What about tone at the top!    http://www.recordnet.com/apps/pbcs.dll/article?AID=/20130801/A_NEWS/308010320