The bidding frenzy for Singapore land has slowed to a trickle, going by the results of the first auctions since property curbs were tightened. Just three bids were submitted for the Jalan Jurong Kechil site in the island’s northwest, compared to 24 received in April last year for the nearby [...]
Financial reporting frauds (also called management frauds) have become endemic, with huge losses being inflicted upon shareholders, creditors and others. Some of the most infamous frauds of the past two decades – Enron, WorldCom, Satyam, Olympus, Toshiba, and Parmalat being a small sample – have implicated the same key concerns. [...]
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On July 9, 2009, the International Accounting Standards Board (IASB) issued International Financial Reporting Standards (IFRS) for Small and Medium-Sized Entities (SME). The stated goal of the standard is to provide a simplified, self-contained set of accounting principles derived from the full IFRS to be used by smaller, non-listed companies. [...]
Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC Earn-out agreements (“earn-outs”) are common features of business acquisitions, and indeed may be necessary in bringing a proposed transaction to fruition. Particularly when the sought-after price is predicated on the business’ very recent record of success, [...]
A recent report by the New Zealand Institute of Chartered Accountants (NZICA) and the Institute of Chartered Accountants of Scotland (ICAS) to the International Accounting Standards Board (IASB) has raised significant issues regarding the matter of information overload (Joint Oversight Group 2011). Excruciatingly detailed financial reports have long been intuitively [...]
In response to a spate of financial reporting and other corporate governance scandals, the Sarbanes-Oxley Act of 2002 (“SoX”) was adopted by the United States Congress and signed by then-president George Bush. Once implemented, it had pervasive effects on how publicly-held companies in the U.S. are governed, including impacts on [...]