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Frequent SEC comment letter issues for smaller registrants
During presentations at the PCAOB’s 2009 Forums on Auditing in the Small Business Environment, the Staff of the SEC's Division of Corporation Finance discussed, among other issues, financial reporting issues that are frequently raised in SEC comment letters issued to smaller registrants.
Use of EFAST2 online filing system required for Form 5500
The U.S. Department of Labor’s Employee Benefits Security Administration has converted to an electronic system of online filing for Form 5500 and Form 5500-SF. Filers must submit the 2009 and 2010 annual return/report forms and schedules electronically through EFAST2.
Fundamentals of Fair Value Measurements and Disclosures
McGladrey & Pullen’s National Professional Standards Group has developed a document, Fundamentals of Fair Value Measurements and Disclosures, to assist middle market companies in understanding and applying the fundamentals of the authoritative guidance on measuring and disclosing information about fair value measurements included in the financial statements.
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Our biweekly newsletter, Insights, communicates recent accounting and auditing developments to our clients and other friends in a timely manner.
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Preparing for the 403(b) Plan Audit
There is a new item on the agenda for many tax-exempt organizations this year - preparing for the audit of their 403(b) plan. To assist entities in preparing for the audit of 403(b) plans, McGladrey & Pullen’s National Professional Standards Group has issued a white paper that answers many questions.
2009 Effective Date Reminder
McGladrey & Pullen’s 2009 Effective Date Reminder lists those pronouncements issued as of November 1, 2009, which became effective on or after January 1, 2009 for most entities or have not yet become effective for all entities as of November 1, 2009.
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