SEC and Corporate Audits: Hearings Before the Subcommittee on Oversight and Investigations and the Committee on Energy and Commerce, House of Representatives, Ninety-ninth Congress, First Session ...U.S. Government Printing Office, 1985 |
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Common terms and phrases
accepted accounting principles accepted auditing standards accounting and auditing accounting and reporting accounting firms ACCOUNTING OR IMPLEMENTATION accounting principles accounting profession actuarial Added to Board AICPA APB Opinion Arthur Andersen assets audit clients audit failures auditing standards auditor Big Eight Briloff Certified Public Accountants Chairman CHENOK Committee companies Cons for Adoption Coopers & Lybrand corporate CPA firms DINGELL disclosure effect Exposure for public FASB Statement Federal fees Final Statement issued Financial Accounting FINANCIAL ACCOUNTING STANDARDS financial reporting financial statements firm's GAAP guidance IMPROVES PREVIOUS PRACTICE income interest involved lease LUKEN ment peer review performance Price Waterhouse procedures public comment Final Public Oversight Board question regulatory REMAINING ALTERNATIVES Remaining Implementation Problems responsibility SEC Practice Section Securities and Exchange SHAD SIKORSKI staff Standard Improved Practice STANDARD IMPROVES PREVIOUS STATEMENT OF FINANCIAL Subcommittee SUMMARY OF STANDARD task force tion transactions U.S. dollar WYDEN
Popular passages
Page 1165 - As to each class of securities of the bank, or of any person specified in paragraph (b), which is admitted to dealing on a national securities exchange or with respect to which a market otherwise exists, and which will be materially affected by the plan, state the high and low sale prices (or, in the absence of trading in a particular period, the range of the bid and asked prices) for each quarterly period within two years.
Page 450 - ... (b) The rights and remedies provided by this title shall be in addition to any and all other rights and remedies that may exist under the Securities Act of 1933 or the Securities Exchange Act of 1934, or...
Page 427 - In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of...
Page 1013 - Statement, form of proxy, notice of meeting, or other communication, written or oral, containing any statement that, at the time and in the light of the circumstances under which it is made, is false or misleading with respect to any material fact, or that omits to state any material fact necessary in order to make the statements therein not false or misleading...
Page 453 - By certifying the public reports that collectively depict a corporation's financial status, the independent auditor assumes a public responsibility transcending any employment relationship with the client. The independent public accountant performing this special function owes ultimate allegiance to the corporation's creditors and stockholders, as well as to the investing public. This 'public watchdog...
Page 1011 - ... (2) to obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or (3) to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.
Page 998 - In addition to the information expressly required to be included in a statement or report, there shall be added such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under which they are made, not misleading.
Page 1013 - ... fraudulent, deceptive, or manipulative acts or practices, in connection with any tender offer or request or invitation for tenders, or any solicitation of security holders in opposition to or in favor of any such offer, request, or invitation.
Page 239 - Briefly, financial reporting should: Provide Information that Is useful to present and potential Investors and creditors and other users In making rational Investment, credit, and similar decisions.
Page 1111 - ... (1) the establishment of differing compliance or reporting requirements or timetables that take into account the resources available to small entities...