Daily Archives: September 8, 2021, 4:42 pm

Four is the Loneliest Number: How strategic rounding of EPS results may predict aggressive financial reporting

While the occurrence of quadrophobia in a company may represent legitimate accounting discretion and may not necessarily indicate any potential violations of accounting standards or efforts to manage earnings, the study took a deeper look to determine, if management practiced strategic EPS rounding, would they be more likely to engage in other forms of problematic financial reporting behavior. Based on…

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Key Takeaways From a Second Summer Blitzkrieg of SEC Cybersecurity Enforcement | LinkedIn

The SEC just fired its second summer cybersecurity enforcement salvo in the span of two weeks, turning its enforcement torrent from cyber-related disclosure failures at public companies, to cybersecurity failures at SEC-registered financial firms. In its first salvo, fired on August 16, 2021, the SEC went ballistic. Without alleging fraud, without charging any individuals and, in one instance without even alleging…

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Coinbase Gets Wells Notice From the SEC on Lend Product – Bloomberg

Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings. The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s…

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