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2nd Big 4 Audit Report with 2 CAMs

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An audit report was filed with a 10-K that includes two CAMs.  One is related to revenue recognition and the other is related to uncertain tax positions. More specifically on revenue recognition the audit report states the auditors identified the evaluation of the allocation of contract price to the identified... Read More

Topics: Errors & Omissions Liability

Agencies Adopt Final Rule to Exclude Community Banks from the Volcker Rule

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Five federal financial regulatory agencies adopted a final rule to exclude community banks from the Volcker Rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act. The Volcker Rule generally restricts banking entities from engaging in proprietary trading and from owning, sponsoring, or having certain relationships with hedge... Read More

Topics: Errors & Omissions Liability