Weekend Insights: Vacation, All I Ever Wanted

It’s been relatively quiet this week—and not just at the office. Even my texts from friends and families have slowed down, peppered with the occasional photo of a fruity drink or beachfront. It’s clear that it is officially vacation season in many parts of the world. I think tax professionals, […]

SPAC restatements proliferate in the wake of SEC warning

A warning from the Securities and Exchange Commission about accounting for the warrants used by special purpose acquisition companies has prompted hundreds of them to issue financial restatements. SPACs, also known as blank-check companies, have become an increasingly popular way for companies to go public by merging a privately held […]

Pervasive SPAC Accounting Error Prompts Mass Restatements

An accounting error that came to light in the spring forced hundreds of blank-check companies to flag financial statement mistakes at levels not seen in more than a decade. More than 340 special purpose acquisition companies in the past three months issued corrections, or restatements, of prior financial statements—quadruple the […]