With the fiduciary rule in question, a prominent industry association is calling on the SEC to issue guidance on the use of the term “advisor” when offering advice to retail investors. The CFA Institute has drafted a letter asking the SEC to take steps–ahead of the full regulatory initiative it is contemplating–to clarify the way financial pros describe themselves and their services. To read the full article in FinancialPlanning, click: SEC Should Define “Advisor,” Says CFA Institute.
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On June 1, 2017 the Public Company Accounting Oversight Board (PCAOB) adopted a new auditing standard to provide additional information to investors. The new standard received approval from the Securities and Exchange Commission on October 23, 2017. In this post, Rohan Bose, financial analyst with Mercer Capital, summarizes several of the major changes coming to audit reports in the near future. To read the full article in Mercer Capital’s Financial Reporting Blog, click: SEC Approves New PCAOB Audit Standards. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit:…
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GIPS are a set of ethical principles intended to serve prospective and existing clients of investment firms. However, compliance is the question. Mary Grace McQuiston, senior financial analyst with Mercer Capital, discusses this issue and the GIPS Guidance Statement on Alternative Strategies and Structures. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Are You GIPS-Compliant? This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
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With the New Year just around the corner, Mercer Capital is beginning their countdown a little early. Here are this year’s 10 most popular posts from The Financial Reporting Blog. Happy New Year 2016! To read the full article in Mercer Capital’s Financial Reporting Blog, click: Financial Reporting Blog: Best of 2015. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
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All members of the American Board of Forensic Accounting, the advisory board behind the American College of Forensic Examiners Institute’s (ACFEI) Certified Forensic Accountant credential have recently resigned. The unanimous resignation comes amid questions about the legitimacy of the credential and the organization, as a whole. According to accountingtoday.com, the board resigned en masse after learning from a third party that ACFEI founder, Dr. Robert O’Block, had been planning to secretly sell the organization. As a result, former board members have cancelled all future speaking engagements, including an ACFEI conference scheduled for May in Tulsa, OK. For more information, click…
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The “Market” is Not Always Right When it Comes to Value, Especially in M&A Transactions The mergers and acquisitions market began a slow recovery this last year after a sharp downturn in 2009. Was the slowdown caused by banks reducing lending activity, cash hoarding by businesses, economic uncertainty, or the simple failure of buyers and seller to agree upon price? Michael Blake takes a look at how value is variously defined—“fair market value,” “fair value,” “investment value,” and “market value”—and offers an assessment of what may prove to be the primary market M&A activity drivers going forward.