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19 06, 2015

IFRS for Small and Medium-Sized Entities

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|General|0 Comments

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. [...]

19 06, 2015

Legal and Accounting Pitfalls For Buyers and Sellers

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|Research|0 Comments

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, [...]

19 06, 2015

Accountants Urged to Consider Information Overload

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|General|0 Comments

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).[1] Excruciatingly detailed financial reports have long been intuitively [...]

19 06, 2015

Even Without SoX, Better Auditing is Here to Stay

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|General|0 Comments

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 [...]

19 06, 2015

Canaries Gone AWOL: How Auditors Should Be Helping

By | 2016-11-16T09:22:12+00:00 June 19th, 2015|Research|0 Comments

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   During an out-of-court restructuring or a Chapter 11 bankruptcy [1] process, restructuring professionals do not uncommonly hear the statement (or think to themselves): “If only we could have gotten involved sooner.” Oftentimes, business managers that ignore [...]

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