Given the centrality of financial reporting integrity, why should closely held companies and their CPAs have a different set of rules?
The most likely users of audited financial statements of closely held companies are also likely to have requested the audit; for example, financial institutions that loan the company money.
Fifty-six replies were received; of those that responded, 85% reported that over 75% of their loans were to closely held companies.
CPC tracks developments affecting private and closely held companies, promotes information exchange among interested members and oversees the development of programs, products and services that address its constituents.
Additionally, CPC is authorized to formulate FEI position statements on matters affecting private and closely held companies and communicate those positions to appropriate sources: organizations, government agencies, the academic community and other external interested parties.
In addition to potential problems with information availability and reliability, there are other differences between closely held companies and their publicly traded counterparts.
Many closely held companies are run by a very thin management layer.
They selected the 10 award winners out of 68
closely held companies that were invited to present their business plans at the conference.
They selected the 10 award winners out of 72
closely held companies that were invited to present their business plans at the conference.
Andrew Seybold's Outlook 4Mobility is an affiliation of
closely held companies founded by wireless and mobile data expert Andrew Seybold.
The Birmingham-based law firm of Maynard, Cooper & Gale offers a full array of legal services to a broad and diverse client base consisting of Fortune 500 companies as well as
closely held companies, partnerships, professional associations, charities and individuals.
He also has substantial experience litigating a wide variety of other types of business disputes, including those involving commercial contracts, partnerships and
closely held companies, defamation and real estate matters.