--- title: Audit, Compliance and Risk Blog | STP | SEC (6) description: SEC | STP's blog giving insight into audit, compliance and risk issues for EHS, business and accounting. (6) --- [![Specialty Technical Publishers](https://blog.stpub.com/hubfs/STP-logo-white-orange.png)](http://www.stpub.com/) - [My Account](http://stponline.stpub.com) - 1-800-251-0381 # Audit, Compliance and Risk Blog ## [Expected Developments Affecting Accountants in 2013—Part 1, FASB](https://blog.stpub.com/bid/169963/Expected-Developments-Affecting-Accountants-in-2013-Part-1-FASB) Posted by [Ron Pippin](https://blog.stpub.com/author/ron-pippin) on Mon, Jan 21, 2013 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17047642-jpg/images/man_in_archway.jpg) ](https://blog.stpub.com/bid/169963/Expected-Developments-Affecting-Accountants-in-2013-Part-1-FASB) My last two blog postings discussed what happened in “Accounting Land” in the United States in 2012. But that’s history. What about the future? Let’s dust off the crystal ball and I’ll share with you my thoughts on developments that may occur in 2013, in a series of three blog articles. [Read More](https://blog.stpub.com/bid/169963/Expected-Developments-Affecting-Accountants-in-2013-Part-1-FASB) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/169963/Expected-Developments-Affecting-Accountants-in-2013-Part-1-FASB#comments-listing) Tags: [SEC](https://blog.stpub.com/topic/sec), [Accounting & Tax](https://blog.stpub.com/topic/accounting-tax), [Lease Accounting](https://blog.stpub.com/topic/lease-accounting), [Accountants](https://blog.stpub.com/topic/accountants), [US GAAP](https://blog.stpub.com/topic/us-gaap) ## [2012 Roundup: Securities and Exchange Commission](https://blog.stpub.com/bid/168349/2012-Roundup-Securities-and-Exchange-Commission) Posted by [Jon Elliott](https://blog.stpub.com/author/jon-elliott) on Mon, Jan 14, 2013 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17064454-jpg/images/sec.jpg) ](https://blog.stpub.com/bid/168349/2012-Roundup-Securities-and-Exchange-Commission) SEC activities during 2012 have been dominated by its efforts to issue rules required by two major pieces of recent legislation: [Read More](https://blog.stpub.com/bid/168349/2012-Roundup-Securities-and-Exchange-Commission) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/168349/2012-Roundup-Securities-and-Exchange-Commission#comments-listing) Tags: [Corporate Governance](https://blog.stpub.com/topic/corporate-governance), [SEC](https://blog.stpub.com/topic/sec), [Audit Standards](https://blog.stpub.com/topic/audit-standards), [JOBS Act](https://blog.stpub.com/topic/jobs-act) ## [2012: A Year in Review for Accountants—Part 2, Auditing and SEC](https://blog.stpub.com/bid/168354/2012-A-Year-in-Review-for-Accountants-Part-2-Auditing-and-SEC) Posted by [Ron Pippin](https://blog.stpub.com/author/ron-pippin) on Fri, Jan 04, 2013 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17060538-jpg/images/ron_pippin_w_border.jpg) ](https://blog.stpub.com/bid/168354/2012-A-Year-in-Review-for-Accountants-Part-2-Auditing-and-SEC) This is the second of two blog articles on 2012 changes in the literature frequently used by accountants. Previously, I covered accounting developments in the United States and internationally. This article covers developments affecting companies (registrants) subject to [Securities and Exchange Commission](http://www.stpub.com/SEC-Disclosures-Checklists-Including-Financial-Statement-MDA-and-Sarbanes-Oxley-Checklists_p_20.html) (SEC) oversight and auditing developments. [Read More](https://blog.stpub.com/bid/168354/2012-A-Year-in-Review-for-Accountants-Part-2-Auditing-and-SEC) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/168354/2012-A-Year-in-Review-for-Accountants-Part-2-Auditing-and-SEC#comments-listing) Tags: [SEC](https://blog.stpub.com/topic/sec), [Accounting & Tax](https://blog.stpub.com/topic/accounting-tax), [Audit Standards](https://blog.stpub.com/topic/audit-standards), [Accountants](https://blog.stpub.com/topic/accountants), [JOBS Act](https://blog.stpub.com/topic/jobs-act), [US GAAP](https://blog.stpub.com/topic/us-gaap), [GAAP](https://blog.stpub.com/topic/gaap), [IFRS](https://blog.stpub.com/topic/ifrs), [Internal Control](https://blog.stpub.com/topic/internal-control) ## [2012: A Year in Review for Accountants—Part 1, Accounting Standards](https://blog.stpub.com/bid/168051/2012-A-Year-in-Review-for-Accountants-Part-1-Accounting-Standards) Posted by [Ron Pippin](https://blog.stpub.com/author/ron-pippin) on Fri, Dec 21, 2012 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17060538-jpg/images/ron_pippin_w_border.jpg) ](https://blog.stpub.com/bid/168051/2012-A-Year-in-Review-for-Accountants-Part-1-Accounting-Standards) As 2012 comes to a close, it is time for accountants in the United States to reflect on new [financial reporting](http://www.stpub.com/search.asp?keyword=accounting+and+tax&search=GO) rules or developments and what may transpire in 2013. This is the first of two blog articles on the topic. In this article, I cover accounting developments in the United States and internationally. The second article will cover [Securities and Exchange Commission](http://www.stpub.com/search.asp?keyword=sec&search=GO) (SEC) developments and auditing developments. [Read More](https://blog.stpub.com/bid/168051/2012-A-Year-in-Review-for-Accountants-Part-1-Accounting-Standards) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/168051/2012-A-Year-in-Review-for-Accountants-Part-1-Accounting-Standards#comments-listing) Tags: [SEC](https://blog.stpub.com/topic/sec), [Accounting & Tax](https://blog.stpub.com/topic/accounting-tax), [Lease Accounting](https://blog.stpub.com/topic/lease-accounting), [Accountants](https://blog.stpub.com/topic/accountants), [US GAAP](https://blog.stpub.com/topic/us-gaap), [GAAP](https://blog.stpub.com/topic/gaap), [IFRS](https://blog.stpub.com/topic/ifrs), [Decision on IFRS](https://blog.stpub.com/topic/decision-on-ifrs) ## [Internal Control—An Updated Framework Coming](https://blog.stpub.com/bid/165989/Internal-Control-An-Updated-Framework-Coming) Posted by [Ron Pippin](https://blog.stpub.com/author/ron-pippin) on Fri, Nov 30, 2012 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17060538-jpg/images/ron_pippin_w_border.jpg) ](https://blog.stpub.com/bid/165989/Internal-Control-An-Updated-Framework-Coming) Ever since the passage of the Sarbanes-Oxley Act of 2002 (SOX), the concept of internal control over financial reporting has taken on a new meaning. The U.S. Congress passed this legislation in part because of the failure of certain large companies, notably Enron and WorldCom, which met their demise in part because of real or perceived weaknesses in company internal control and less than adequate [corporate governance](http://www.stpub.com/publications-corporate-governance). SOX reinforces the concept that company management is responsible for establishing and maintaining an adequate internal control structure and robust procedures for financial reporting. [Read More](https://blog.stpub.com/bid/165989/Internal-Control-An-Updated-Framework-Coming) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/165989/Internal-Control-An-Updated-Framework-Coming#comments-listing) Tags: [Corporate Governance](https://blog.stpub.com/topic/corporate-governance), [Business & Legal](https://blog.stpub.com/topic/business-legal), [SEC](https://blog.stpub.com/topic/sec), [Accounting & Tax](https://blog.stpub.com/topic/accounting-tax), [Accountants](https://blog.stpub.com/topic/accountants), [JOBS Act](https://blog.stpub.com/topic/jobs-act), [SOX](https://blog.stpub.com/topic/sox), [Internal Control](https://blog.stpub.com/topic/internal-control) ## [Foreign Corrupt Practices Act: Federal Dos and Don'ts](https://blog.stpub.com/bid/164948/Foreign-Corrupt-Practices-Act-Federal-Dos-and-Don-ts) Posted by [Jon Elliott](https://blog.stpub.com/author/jon-elliott) on Tue, Nov 20, 2012 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17008684-jpg/images/100_dollar_bills_image.jpg) ](https://blog.stpub.com/bid/164948/Foreign-Corrupt-Practices-Act-Federal-Dos-and-Don-ts) The Foreign Corrupt Practices Act (FCPA) of 1977 prohibits U.S. companies from making bribes or other “[corrupt payments](http://www.stpub.com/corruption-risk-briefings-online)” to foreign officials for the purpose of obtaining or retaining business. Concerns that this U.S. attempt to mediate its companies’ [overseas activities](http://www.stpub.com/legal-and-regulatory-environment-risk-atlas-online) might prove quixotic—and potentially disadvantaging—to American competitiveness have abated (although not disappeared) since the Organization for Economic Cooperation and Development (OECD) promulgated its “Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.” As of November 2012 the OECD Convention has been ratified by all 34 OECD member countries, and five others as well. [Read More](https://blog.stpub.com/bid/164948/Foreign-Corrupt-Practices-Act-Federal-Dos-and-Don-ts) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/164948/Foreign-Corrupt-Practices-Act-Federal-Dos-and-Don-ts#comments-listing) Tags: [Corporate Governance](https://blog.stpub.com/topic/corporate-governance), [Business & Legal](https://blog.stpub.com/topic/business-legal), [SEC](https://blog.stpub.com/topic/sec), [Employer Best Practices](https://blog.stpub.com/topic/employer-best-practices), [International](https://blog.stpub.com/topic/international) ## [Accountants in Demand in the United States](https://blog.stpub.com/bid/164583/Accountants-in-Demand-in-the-United-States) Posted by [Ron Pippin](https://blog.stpub.com/author/ron-pippin) on Fri, Nov 16, 2012 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17060538-jpg/images/ron_pippin_w_border.jpg) ](https://blog.stpub.com/bid/164583/Accountants-in-Demand-in-the-United-States) Accountants in the United States are in demand once again. There are specific needs at the Financial Accounting Standards Board (FASB) and the U.S. Securities and Exchange Commission (SEC). Separately, the skills and talents of those CPAs that practice in the “income tax world” will be helpful to address scheduled individual income-related issues as year-end looms. [Read More](https://blog.stpub.com/bid/164583/Accountants-in-Demand-in-the-United-States) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/164583/Accountants-in-Demand-in-the-United-States#comments-listing) Tags: [Business & Legal](https://blog.stpub.com/topic/business-legal), [SEC](https://blog.stpub.com/topic/sec), [Accounting & Tax](https://blog.stpub.com/topic/accounting-tax), [Accountants](https://blog.stpub.com/topic/accountants), [GAAP](https://blog.stpub.com/topic/gaap), [IFRS](https://blog.stpub.com/topic/ifrs), [Decision on IFRS](https://blog.stpub.com/topic/decision-on-ifrs) ## [International Group Comments on SEC Non-decision on IFRS](https://blog.stpub.com/bid/162526/International-Group-Comments-on-SEC-Non-decision-on-IFRS) Posted by [Ron Pippin](https://blog.stpub.com/author/ron-pippin) on Fri, Oct 26, 2012 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17060538-jpg/images/ron_pippin_w_border.jpg) ](https://blog.stpub.com/bid/162526/International-Group-Comments-on-SEC-Non-decision-on-IFRS) As discussed in my [prior blog item](https://blog.stpub.com/bid/150553/SEC-Staff-Punts-on-IFRS-Decision), the staff in the Securities and Exchange Commission (SEC) did not make a recommendation to the commissioners of the SEC on whether U.S. registrants should be required or permitted to use International Financial Reporting Standards (IFRS). I termed it a “punt.” On October 22, 2012, the IFRS Foundation staff published an 84-page analysis of this SEC staff report. In the press release announcing issuance of the IFRS Foundation staff report, Trustee Chairman Michel Prada observed that there are “no insurmountable obstacles for adoption of IFRS by the United States.” [Read More](https://blog.stpub.com/bid/162526/International-Group-Comments-on-SEC-Non-decision-on-IFRS) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/162526/International-Group-Comments-on-SEC-Non-decision-on-IFRS#comments-listing) Tags: [Business & Legal](https://blog.stpub.com/topic/business-legal), [SEC](https://blog.stpub.com/topic/sec), [Accounting & Tax](https://blog.stpub.com/topic/accounting-tax), [JOBS Act](https://blog.stpub.com/topic/jobs-act), [GAAP](https://blog.stpub.com/topic/gaap), [IFRS](https://blog.stpub.com/topic/ifrs), [Decision on IFRS](https://blog.stpub.com/topic/decision-on-ifrs) ## [Where Is the Regulator of Auditors of Public Companies?](https://blog.stpub.com/bid/160248/Where-Is-the-Regulator-of-Auditors-of-Public-Companies) Posted by [Ron Pippin](https://blog.stpub.com/author/ron-pippin) on Tue, Oct 09, 2012 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17060538-jpg/images/ron_pippin_w_border.jpg) ](https://blog.stpub.com/bid/160248/Where-Is-the-Regulator-of-Auditors-of-Public-Companies) The Public Company Accounting Oversight Board (PCAOB) was created by the U.S. Congress as a result of passage of the Sarbanes-Oxley Act of 2002 (SOX). Some believe that the PCAOB has been sleeping, because its recent activity has not been very visible. But as discussed below, the board is addressing many complex and sometimes highly controversial changes to the auditing profession. [Read More](https://blog.stpub.com/bid/160248/Where-Is-the-Regulator-of-Auditors-of-Public-Companies) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/160248/Where-Is-the-Regulator-of-Auditors-of-Public-Companies#comments-listing) Tags: [Corporate Governance](https://blog.stpub.com/topic/corporate-governance), [SEC](https://blog.stpub.com/topic/sec), [Accounting & Tax](https://blog.stpub.com/topic/accounting-tax) ## [Resource Extractors’ Payments – New SEC Rules Increase Transparency](https://blog.stpub.com/bid/157857/Resource-Extractors-Payments-New-SEC-Rules-Increase-Transparency) Posted by [Jon Elliott](https://blog.stpub.com/author/jon-elliott) on Thu, Sep 20, 2012 - [Tweet](https://twitter.com/share) [![](https://blog.stpub.com/hs-fs/file-17041871-jpg/images/jon_f_elliott1-resized-600.jpg) ](https://blog.stpub.com/bid/157857/Resource-Extractors-Payments-New-SEC-Rules-Increase-Transparency) This month the [Securities and Exchange Commission ](http://www.stpub.com/publications/accounting-tax/accounting-tax-sec)(SEC) published new [environmental compliance](http://www.stpub.com/publications/environmental/environmental-nec) rules (Rule [13q-1](http://www.sec.gov/rules/final/2012/34-67717.pdf) and associated Form SD), requiring annual disclosures by publicly listed “resource extraction issuers” of payments they make to the U.S. federal government, or foreign governments, related to commercial development of oil, natural gas or minerals. SEC’s rules implement a Congressional mandate contained in 2010’s massive [Dodd-Frank Wall Street Reform and Consumer Protection Act](http://www.sec.gov/about/laws/wallstreetreform-cpa.pdf) (Dodd-Frank). [Read More](https://blog.stpub.com/bid/157857/Resource-Extractors-Payments-New-SEC-Rules-Increase-Transparency) 0 Comments [Click here to read/write comments](https://blog.stpub.com/bid/157857/Resource-Extractors-Payments-New-SEC-Rules-Increase-Transparency#comments-listing) Tags: [SEC](https://blog.stpub.com/topic/sec), [Environmental risks](https://blog.stpub.com/topic/environmental-risks), [Environmental](https://blog.stpub.com/topic/environmental), [EPA](https://blog.stpub.com/topic/epa) [Previous](https://blog.stpub.com/topic/sec/page/5) [All posts](https://blog.stpub.com/all) [Next](https://blog.stpub.com/topic/sec/page/7) ### Follow Me ### Subscribe by Email ### Browse by Topic Area - [Accounting & Tax ](https://blog.stpub.com/topic/accounting-tax) - [Business & Legal ](https://blog.stpub.com/topic/business-legal) - [Corporate Governance  ](https://blog.stpub.com/topic/?Tag=Corporate+Governance) - [Environmental ](https://blog.stpub.com/topic/?Tag=Environmental) - [Global ](https://blog.stpub.com/topic/?Tag=Global) - [Health & Safety ](https://blog.stpub.com/topic/health-safety) - [Internet ](https://blog.stpub.com/topic/?Tag=Internet) - [Transportation ](https://blog.stpub.com/topic/?Tag=Transportation) ### Browse by Tag - [Environmental (344)](https://blog.stpub.com/topic/environmental) - [Business & Legal (309)](https://blog.stpub.com/topic/business-legal) - [Environmental risks (300)](https://blog.stpub.com/topic/environmental-risks) - [Health & Safety (296)](https://blog.stpub.com/topic/health-safety) - [EPA (283)](https://blog.stpub.com/topic/epa) - [Terms & Conditions](https://stphub.stpehs.com/wp-content/uploads/2021/01/STP-Terms-of-Use-Dec-20.pdf) - [Privacy Policy](https://stphub.stpehs.com/wp-content/uploads/2020/12/STP-Privacy-Policy.pdf) - [License Agreement](https://stphub.stpehs.com/wp-content/uploads/2021/01/STP-License-Agreement-Dec-20.pdf) - [Sitemap](http://stpub.com/sitemap) - [Support](http://stpub.com/support) © 2021 STP ComplianceEHS - All rights reserved