EBay Reports Material Weakness: Second Control Deficiency in Three Years

Last week on February 6, in its Fiscal 2016 10-K, eBay (EBAY) disclosed a material weakness in its internal controls over financial reporting (“ICFR“). The deficiency related to a failure to properly apply tax accounting and affected the Deferred Tax Asset and Income Tax Benefit … Continue reading

A Big Change in Bank of America’s Accounting Policy

Voluntary changes in accounting principle are usually disclosed in so-called preferability letters, but occasionally a significant change will be disclosed in an 8-K current report. Last Friday, Bank of America did just that, disclosing that they would be changing their method of … Continue reading