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SEC Proposes Audit For All NASDAQ Listed Companies

ImageThe SEC has proposed that every NASDAQ listed company have an internal audit function by December 31. As proposed there are no exceptions, not even JOBS Act Emerging Growth companies nor NASDAQ Capital Markets companies, both typically small companies. It can be outsourced except to external auditors but the audit committee of the board is still directly responsible, and the responsibility cannot be handed off to another committee or group of the board. Here’s the  actual Notice of Filing of Proposed Rule Change to Require that Listed ... A pretty good summary is also at Nasdaq Proposes Rule Requiring Internal Audit Function at All. Of course feel free to contact us at Scharf Pera & Co., PLLC.


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Identity Theft Leads IRS Dirty Dozen Scams!

Scam Alert

The IRS recently issued its “Dirty Dozen” list of tax scams, highlighting fraudulent schemes commonly committed by and upon taxpayers. Consider it our annual fair warning from the IRS and highlights the most egregious schemes involving filing false returns or return items. It also gives some good advice against practices year-round  that prey upon the unwary and uninformed.Read more HERE.

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