Financial databases with IPOs, IPO-dates, company age, joint ventures.

In an ideal world all databases would contain all data and would be fully inter exchangeable.
This post aims an abridged overview of commonly used databases.
I deliberately chose not to focus solely on M&A databases.
Here are some databases.

For database with only publicly listed companies: date of incorporation (company age/ company founded) differs often from the IPO date, the date it went public. As for non public companies: no IPO date until further notice. But company age is retrievable.
Databases particularly concerning: Wharton/Compustat and Datastream (only listed companies)


AMADEUS (more Amadeus tips & tricks: here)
You can't find any data on deal types, IPOs etc. from the start menu.
So first you'll have to construct a workset of companies.
After your selections and opening the list of results, with VIEW list of results . . .











 . . . you can use  the link ADD at top right of the screen (image)
  









A new menu will open.
Note: this principle applies to all Bureau van Dijk databases: Amadeus, Bankscope, REACH, Zephyr etc.

If you can't find the desired data type, you can text search for it.
Give OK.

Joint ventures: a bit hidden
Follow above mentioned method.
Mergers & acquisitions.
Maybe it is sensible to make the selection from the start menu.

 ChooseMergers & acquisitions > M &A dels
A new window will open with selection boxes.

As you can see this conditional and focusses on a specific value. In this case, total assets.
Given the time period (-2 years) it ends up with this amount of joint-ventures.

Additional data can be gathered from the list of results.








BANKSCOPE (more bankscope tips & tricks: here)
(OECD countries)
You can't find any data on IPOs etc. from the start menu.
So first you'll have to construct a workset of companies.
On the other hand, there is the option to look for Mergers & Acquisitions

IPO date has to be searched separately: List of results > ADD > type in IPO date
After your selections and opening the list of results, with link ADD you can add extra data without further limiting your search



DATASTREAM: (for more Datastream tips & tricks: here)
Date company founded (WC18272 Static DATA)
(data SHOW as NA not available)



SDC (for SDC tricks and tips see: here)
SDC offers IPO data.
Global New Issues (GNI)
Settings for this example:
United States, all Public new issues, US common stock, time scope from 3rd January 2000 > on
In the Menu All Items, search words IPO
or browse through TAB Deal. E.g.: IPO date or IPO flag, select all IPOs.
Nr of IPOs: 3707

Make Custom Report >



I selected name, issue dates, filing date, offer price, shares offered . . . date founded

Secondary IPO data: M&A database
Most basic is to search in the menu 'All categories' searching for IPO

 
Most of presented items open new menu widows enabling to refine your search.
Looking for IPOs of companies involved in mergers and acquisitions is harder.
Maybe the following options is better.
I will stick to a limited set :
Period:01/01/2000
US targets
US acquirors
Deal value:  > $ 500M
Deal status: completed
Press Button Execute in the
TOP BAR
Nr of deals: 4006


Two options now:
Using menu, ALL Items, search word IPO >

Many of these IPO data are flags : (Y/N)
Mind: using IPO at this moment will limit your search considerably.

Better is to go to Custom report.

Again use the ALL Items, search word IPO, but now the data won't influence the size of your work set

After selecting the desired items, click OK > and say NO you don't want to go back select items.
Back in the main Menu. Execute your search.



Joint Ventures

M&A database > select joint ventures
All dates . . . Search all Items: Cross border . Y . . .  8723 hits
Make custom report to add extra data
Company names, name of the joint venture, nation, joint venture flag, status of the alliance . . .


Example.

WHARTON

(TO B
Amadeus
Ownership data : codes.
JO = Joint Venture


Compustat (North America, Compustat Global)
(more Compustat tips & tricks here)
Pathway:
Choose database > Fundamentals annual > search with CTRL-F: IPO date
WRDS explanation: This item is the date of a company's initial public stock offering. If the date of a company's initial public stock offering is not available, the first trading date in the major exchange is used.

CRSP
According to WRDS support, it should be somewhere under this data item: MSFHDR (stands for monthly security financial header, I believe)
De proper pathway is as follows: CRSP > Stock/ security files > stock header info >
The data items concerned are
Begin of stock data (in output labeled BEGDAT)
End of stock data (in output labeled ENDDAT)
Some additional complications will appear in a few cases when a firm (PERMCO) had multiple securities (PERMNOs). In those cases, you would need to take the oldest BEGDAT and the latest ENDDAT.

ZEPHYR (more Zephyr tips & tricks: here)
Zephyr has a focus on M&A data specifically
World wide and listed and unlisted companies
After your selections and opening the list of results, with link ADD you can add extra data without further limiting your search

After calling the view list of results and pressing the ADD link, this menu openns, which is devided in deal info, company info and advisor.

As you can see, you can text search info or unfold the categories.










List of results with added data

Auditor independence, auditor tenure and restatements

Auditor tenure:

It is obvious that (internal/ external) auditors are supposed to be independent, otherwise the need to report after discovering accounting errors and such could be biased.

Therefore it is healthy to rotate auditors, lest they don' t get (financially involved in the company they are auditing) Independence stimulates integrity and objectivity.

SEC has formulated Requirements Regarding Auditor Independence.

The rest of the world should follow suit shortly.

 
Restatements happen when things in the statement are found incorrect.
The cause could be anything from accounting errors, noncompliance with accounting principles, misinterpretations, fraudulent activities or other.
Restatements can be positive or negative. No need to say that a negative restatement can influence stock trade and or company performance. ( source Investopedia)
Needed extra statements:
8-K
10-Q
10-K

Recommendations and regulations

. auditor and consultants shouldn't come from same company

. auditing companies shouldn't have a large stake in he client's company

. reviews of the auditing by a peer auditor on 3 annual basis (USA)

. formation of audit committees

. rotation of auditors to insure independence 

> objection is lack of insight in the company when  high rotation occurs (discussion on rotation frequency) 

> in fact one might expect, like in any work situation, that efficiency improves over time until it peaks and after that declines

Databases dealing with mentioned subjects

Amadeus

XXXX

Wharton

Auditor tenure as WRDS explains it.
LAST REPORTED AUDITOR FKEY
LAST REPORTED AUDITOR NAME
LAST REPORTED AUDITOR SINCE EVENT DATE
LAST REPORTED AUDITOR SINCE EVENT TYPE

Audit Analytics (North America) Auditor changes
For instance looking for accounting errors or fraude.

Results list

(the output can be exported to Excel)

Also see this post:

Auditor information

Audit Analytics through WRDS

Audit Analytics : Only North American companies

The look and feel of Audit Analytics data in Wharton is quite different, but may be welcome to those who want to stick with the WDS format.
The approach to data is different.

Yves:
Audit Analytics provides detailed research on over 150,000 active audits and more than 10,000 accounting firms.
WRDS:
Quarterly updated, so it may lag behind Yves. 

Content: over 1200 auditing companies and more than 15000 companies. Offers info on who caudits who, and  their fees.
What identifiers can be used to consult Audit analytics? (aside from looking up companies manually)
Ticker and CIK.

(Assuming you are familiar with the WRDS interface, otherwise, see bottom of this post)

Depending on subscription in WRDS, the following  are covered, Audit and compliance; corporate and legal; other independent audit.

Example: 
Audit opinion
Step 1: time scope (year)
Step 2: 
CIK or Ticker
It's possible to lookup manually company by company or use the following

TIC or CIK

• Upload a file containg company codes: when you want to investigate large(r) groups of securities.
• Preferably you obtained the codes from another part of WRDS (esp. TIC, as the contemporary ones are used in this data environment)
• For instance make a download from Execucomp (executives compensation in the US, through Compustat North America) Only Tickers.
• From Compustat either the financial output databases like fundamentals annual or securities, but also index constituents (only a limited number of indexes) CIK can be downloaded as an additional data asset. Index constituents North America http://finabase.blogspot.nl/2014/09/index-constituents-in-compustat-north.html

In the example I used a constituent of S&P 500 over years 2010-12014
Made a download in tabulated TXT and opened it through the wizard in Excel.
Next removed all duplicates. (data > funnel > remove duplicates)
Since I was going to use CIK I made a text file of the CIK codes I downloaded.
(remove all empty cells first)

For instance researching auditor fees..
Use upload a file containing company codes.
Make certain you select CIK

There are a lot of downloadable data. None of which are explained on screen.*
 Example output:

 *) manuals and explanations are found on top of the screen through link Manuals and Overviews
The Data Dictionary is extensive and large (1.4 Mb)
The data is ordered in TAB, so when you want to look up auyditor fees, just go to that tab.
Example:

I suggest you first download the dictionary and keep it at hand when selecting downloadable data.

Final remark: output is always zipped. This implies large output files.


>>>><<<<

Auditor- / accountings information: depth and extent in databases

Many students request information on how to find auditors over a longer period of time. Most databases only cover the current auditor. This blog post will attempt to give an overview.

AUDIT ANALYTICS
 Audit analytics only deals with North American companies.
150,000+ active audits, 10,000 accounting firms
In order to use the data base it is recommended to first look up specific identifiers in order to limit your data set. Either Central Index Key (CIK) or the tickers. The output might otherwise turn out to be very big.  You can do this by using the Annuals database or first Index Constituents.
See also the following Blog item : click here 
Audit Analytics works through the Wharton Portal or with it's own hotlink (Ives Group) link  click here


Compustat/ Wharton
Offers auditor firms dating back to 1996.
Listed in the output by code (fig.)
Compustat Global does not contain auditor information.

Global: Accounting standard
North America:accounting standard, auditor, auditor opinion, auditor remuneration (almost no data, go to audit analytics)



Example Compustat output with auditor information.

BUREAU VAN DIJK DATABASES




Amadeus

Accounting standards are named accounting practice! `
Added are the accountants (auditors) through the 'add'  link from the results list (Directors /
managers/ contacts/ advisors > auditors > auditor name > display all values)
Account date: is fiscal year end
DM (current): gender, age, name all available
Compensation only chairman
Auditor info under Advisor

Advisors (only current): number, Name (company), type (i.e. auditor, bank etc)

Orbis Bank focus

Accounting standards: Yes.
Auditor info under Advisor >> Advisor type: auditor, banks, other
Advisors: name, number (prev and current), appointment date,
Direcotors: name, position, appointment date, resignation date, age, gender


REACH (not subscr)
(Dutch companies)
Through the menu it is possible to select the accountant. In priciple Reach goes back minus 9 years, but it depends on available data whether these can actually be retrieved.
The following download  (Amsterdam, active, NV < public limited liability company>, IFRS < acc. standard>)
gives an indication. Added are the accountants, through the 'add' link from the results list

EXTRA DATA >>> historic previous directors:
Click on any company from the list
The Menu on the right has changed!
Selected like shown. Previous appouitnments will be presented if available.

This applies to Amadeus and Orbis!

DATASTREAM

Two datatypes giving insight in accounting standards provide data: Accounting Basis (EBASE) and Accounting standards followed ( WC07536). It depends strongly on the selections you make.
Access to author information depends on local license agreement.
An Amsterdam exchanges ourtput might look like this:

Depending on the companies involved (and whether they provide data to ASSET4),
the following data items proved (generic= Y/), scored (rated/graded or actual figures: (and more)
Auditor, parent auditor, audit fees, auditors opinion, number of board meetings, number of women in board, Audit Committee Non-Executive Member,
Audit Committee, Audit Committee Independence, Audit Committee Non-Executive Member,  Audit Service Fees, Audit-Related Service Fees, Board Functions Policy Compliance/Audit (inactive), Board Functions and Committees Policy/Audit (inactive), CSR Sustainability External Audit, Internal Audit Department Reporting, Non-Audit Service Fees, Score - Board Functions/Audit Committee Expertise, Score - Board Functions/Audit Committee Independence, Score - Board Functions/Audit Committee Management Independence, Score - Shareholder Loyalty/Non-audit to Audit Fees Ratio, Value - Board Functions/Audit Committee Expertise, Board Functions/Audit Committee Independence,  Board Functions/Audit Committee Management Independence, Value - Shareholder Loyalty/Non-audit to Audit Fees Ratio, ACCOUNTING STANDARDS



SDC
The GNI (Global New issues offers the option to select either on auditor (in the Search menu) or 'as is' (in the custom report menu). Interpreting the output it is the auditor involved in the Issue of the stock.
(image)

Venture Expert does offer the option to select either on company auditor (in the Search menu) or 'as is' (in the custom report menu).No accounting information.The auditor is rarely mentioned.
(image)

More information on auditors could be found in databases like Lexis/Nexis or Factiva. I'll have to delve into that. Later more.