Tuesday, June 18, 2019
Popping the Lid on Smuckers’ Goodwill

Tuesday, June 11, 2019
Not Much Fizz in LaCroix Right Now

Wednesday, May 29, 2019
An Example of Calcbench, Excel, and Insight

Monday, May 20, 2019
Research Paper: Capex Spending

Thursday, May 16, 2019
Psst: Got Any Weed?

Wednesday, May 15, 2019
Open Letter: SEC Proposed Rule for BDCs

Friday, May 10, 2019
General Motors and Workhorse

Monday, May 6, 2019
How to Find Earnings Release Data

Tuesday, April 23, 2019
Following Restructuring Costs Over Time

Monday, April 22, 2019
Capex Spending: More Than You Might Think

Saturday, April 13, 2019
When AWS Takes Over the World

Thursday, April 11, 2019
Data Trends in Focus: Restructuring Costs

Sunday, April 7, 2019
How One Customer Crushed It With Calcbench

Thursday, April 4, 2019
TJX Shows Complexity of Leasing Costs Reporting

Tuesday, April 2, 2019
CEO Pay Ratios: Some 2018 Thoughts

Wednesday, March 27, 2019
Corporate Spending: Where It Goes, 2017 vs. 2018

Monday, March 25, 2019
Health Insurers: A Bit Winded?

Friday, March 22, 2019
Our New Master Class Video

Thursday, March 21, 2019
Tech Data’s Goodwill Adjustment

Tuesday, March 19, 2019
There’s Taxes, and There’s Taxes

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Each 10-K a company files includes an Auditor’s Report. In that letter, addressed to the shareholders of the company, the auditors give their opinion on the attached financial statements. The auditors also opine on the companies’ internal controls over the financial reporting. In writing the report, auditors typically follow a standard format.

You can easily use Calcbench’s disclosure query to search the auditor’s reports and identify companies for which the auditor found some issues. For example, choosing the S&P 500 companies in 2016, and searching for the text “did not maintain” would identify 5 companies (ALXN, BLL, CTSH, EBAY, ZBH) in which auditors that found the firm ‘did not maintain’ appropriate controls over the financial reporting.

Some auditors use different text, so you may want to look at “expressed an adverse opinion” or “adverse opinion”. This would produce some more companies (see below).

The auditor’s report includes a treasure trove of information. At Calcbench, we extract some information out of it and offer it to our users. For example, you can use the multi-company viewer to uncover the auditor (variable name: auditor_name) for companies you are interested in. And new this year, you can see how long they have been auditing the company, also known as the auditor tenure (variable name: auditor_since_year).

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