And backdating eddie lloyd davis dating in the dark
First backdating & now loans to insiders – I think it may be time to get a My Space account…
I recently blogged about the PCAOB Staff’s implementation guidance on the new audit report regime.
On the other hand, I was pretty skeptical about the idea that people are backdating gifts.
The WSJ examined 14,000 donations of stock to private foundations by insiders – and found that 3x as many were made before price declines of 25% or more than were made prior to comparably-sized price increases.So, many contracts and agreements are considered and negotiated after trade has begun or eager discussions have already taken place – sometimes months past. Thankfully, most jurisdictions allow for contracts, including NDA’s, to be signed with a retroactive date.And when you find yourself in this situation, it may occur to you after-the-fact that you should have signed an agreement in the beginning. This is commonly referred to as “backdating.” But backdating (or adding a retroactive date) any contract can be tricky business, perhaps even more so with NDA agreements because of their nature and content.Shortall agreed to arrange for Unilife to cover the loans.As Shortall understood Unilife could not loan money to the director, Shortall told the Chief Accounting Officer the loan was for the benefit of an external consultant.