March 28, 2011

John Huber on Accounting Help for Law Firms

John Huber recently began a second career at FTI Consulting. In this podcast, John talks about his new career path, including:

– How does your new job differ from working at Latham?
– How do you envision partnering with law firms in your new position?
– Any thoughts on the current battle over the SEC’s budget?

On Wednesday, the SEC is holding an open Commission meeting to adopt rules that require the stock exchanges to maintain listing standards regarding independent compensation committees and advisors.

More on “The Burden of XBRL Costs on Smaller Companies”

I received quite a few emails in reaction to my recent blog regarding the costs for smaller companies to comply with the SEC’s upcoming mandatory XBRL filing requirement. Many folks believe I underestimated the costs that companies will bear. This is borne out by the poll results on XBRL costs, with 16% saying costs were as expected; 51% saying they were higher than expected and 16% said they were so high that they wish they weren’t public (none said costs were lower than expected and the rest said “what me worry?).

Hallador Energy CFO Andy Bishop forwarded me his letter to the SEC, which explains why he believes smaller companies should be exempted from mandatory XBRL. And Daniel Roberts sent me his blog entitled “Is XBRL expensive?” that analyzes the cost issue nicely, including 5 questions that companies should be asking XBRL vendors. I’m sure we haven’t heard the end of this issue…

Check out the piece in “The Accounting Onion” entitled “Has India Abandoned IFRS?

More on our “Proxy Season Blog”

With the proxy season in full swing, we are posting new items regularly on our “Proxy Season Blog” for members. Members can sign up to get that blog pushed out to them via email whenever there is a new entry by simply inputting their email address on the left side of that blog. Here are some of the latest entries:

– TIAA-CREF Updates Governance Guidelines: No Big Deal
– Practice Pointers: Adjournments of Annual Meetings
– Voting by Mobile Devices & iPads in Corporate Elections
– Retail Proponents Survive Eligibility Challenges
– More on “Benchmarking the Number of ‘Executive Officers'”

– Broc Romanek