Audit Analytics

Audit Analytics is an independent research firm that provides customized databases for audit, regulatory, and disclosure applications. Its website (http://vvww.auditanalytics.com) allows access to data on auditor engagements, audit firm quality, audit opinions, financial restatements, and PCAOB inspection reports, all of which CPAs can use for best practices and business development. Its databases include over 150,000 audited companies and 10,000 CPA firms.

Through its extensive research, Audit Analytics periodically makes research reports available to the general public at prices ranging from $50 to $200. Summaries of the results of Audit Analytics' research projects are available for free through industty news articles, which are easily accessed through its website. The website also contains a collection of audit-related news, academic research articles, and a blog focused on current events.

News

An easy way for the general public keep up with audit-related news and short summaries of Audit Analytics' studies is through the news archive (http://www.auditanalytics.com/ 0000/news.php). Publication sources include Accounting Today, Compliance Week, CPA Practice Advisor, MarketWatch, the Wall Street Journal, and many others, some of which require separate subscription access.

MarketWatch correspondent Francine McKenna (re: the Auditors blog) cited Audit Analytics in "Almost Half of Auditor Warnings about Potential Failure Are on IPOs" (http://on.mktw.net/lnACESb). The most frequently occurring reasons for auditors to give going concern opinions are net losses since inception or lack of significant revenues. The article provides a data table of 15 NASDAQ companies with auditor warnings, including details on the initial public offering (IPO) price and subsequent market price. Amazingly, in many...