«However, it is important to remember that the audit reform will impact on all businesses having an audit, their shareholders and
audit firms of all sizes across the European Union.
Not exact matches
Thomas Bray, the president
of PROaudit, a utility - bill
audit firm based in Lincoln, Mass.,
sizes up the problem.
BA Value Investors has disclosed a 5.1 % holding in VaxGen Inc (OTC: VXGN) and, in a letter to the board
of directors, called on VXGN to «act promptly to reduce the
size of the board to three directors; reduce director compensation; change to a smaller
audit firm; terminate the lease
of its facilities; otherwise cut costs; make an immediate $ 10 million distribution to shareholders; make a subsequent distribution
of substantially all the remaining cash after settling the lease termination; distribute any royalty income to shareholders; and explore ways to monetize the public company value
of the Issuer and use
of its net operating losses.»
BA Value Investors had previously disclosed an activist holding and, in a June 12 letter to the board, called on VXGN to «act promptly to reduce the
size of the board to three directors; reduce director compensation; change to a smaller
audit firm; terminate the lease
of its facilities; otherwise cut costs; make an immediate $ 10 million distribution to shareholders; make a subsequent distribution
of substantially all the remaining cash after settling the lease termination; distribute any royalty income to shareholders; and explore ways to monetize the public company value
of the Issuer and use
of its net operating losses.»
VXGN has now also attracted the attention
of BA Value Investors, which has disclosed an activist holding and called on VXGN to «act promptly to reduce the
size of the board to three directors; reduce director compensation; change to a smaller
audit firm; terminate the lease
of its facilities; otherwise cut costs; make an immediate $ 10 million distribution to shareholders; make a subsequent distribution
of substantially all the remaining cash after settling the lease termination; distribute any royalty income to shareholders; and explore ways to monetize the public company value
of the Issuer and use
of its net operating losses.»
The PwC Law
Firm Survey 2015 commented that «internal
audit remains an area
of underinvestment, particularly when benchmarked against corporate businesses
of equivalent
size, complexity and geographic reach».
It is recommended that your
firm talk with other
firms of similar
size for a recommendation for a company to do an
audit.
Michael Schwartz, principal with consulting
firm McGladrey LLP,
audited nearly 6,000 retail leases the
firm has worked on and found that co-tenancy and kick - out clauses for tenants
of various
sizes have become less prevalent in the strongest markets.