Survey Of Public Company Accounting Oversight Board (PCAOB) Data Reveals Fair Value Measurement And Impairment Audit Deficiencies Have More Than Doubled Since 2009
Acuitas Inc. Issues "Survey of Fair Value Audit Deficiencies," Which Analyzes Three Years of PCAOB Data and Reveals Statistics Critical to CFOs, Controllers and Accounting Firms Nationwide
ATLANTA, June 6, 2012 /PRNewswire/ -- An analysis of recent PCAOB inspections indicates two significant trends: 1) the percentage of audits that have deficiencies has more than doubled since 2009, and 2) fair value and impairment audit issues have contributed significantly to this increase in the number of these deficiencies, according to the "Survey of Fair Value Audit Deficiencies" released today by Acuitas, Inc., an Atlanta CPA firm that practices litigation services and business valuation services. The complete survey is available from Mark Zyla, a managing director of Acuitas, Inc., who can be reached at firstname.lastname@example.org.
According to Zyla, "The information contained in the survey should benefit public entities and their auditors, and by extension, private entities and their auditors – by helping them understand the underlying causes of fair value measurements and impairment audit deficiencies, as reported by the PCAOB in their latest inspection reports."
About Mark Zyla
Zyla is a managing director of Acuitas, Inc., an Atlanta-based valuation and litigation consultancy firm and it regarded as one of the country's leading experts on fair value. He has presented for the AICPA's key annual programs on fair value as well as having authored the leading book on the subject, "Fair Value Measurements: Practical Guidance and Implementation." Zyla has provided valuation consulting for various types of entities for the purposes of mergers and acquisitions, tax planning, corporate recapitalizations, as well as valuing various types of intellectual property and other intangible assets. Additionally, Zyla was formerly a practice leader for PricewaterhouseCoopers's Corporate Finance Consulting Group for the southeastern United States. His bio can be found online at www.acuitasinc.com/resume_mzyla.html.
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