All Audit Committee articles
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Blog post
When earnings precede audit, auditors cave, study finds
Absent a strong audit committee, management can get an upper hand over auditors when it releases unaudited earnings results to the market, a new study says.
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ArticleCAM discussions may drive new corporate disclosures
Audit committees may soon reconsider certain areas of corporate disclosure to get ahead of “critical audit matters” that will begin appearing in audit reports in 2019.
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Blog post
IOSCO promotes audit quality via audit committee oversight
Securities regulators globally are troubled enough by the state of audit quality that they are developing a white paper to promote better audit committee oversight.
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Blog post
Audit committees advance disclosure in 2017 yet again
Audit committees took it up another notch in the past year in their voluntarily disclosures to investors, according to the latest analysis.
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Blog post
Cherokee Global Brands appoints audit committee chair
Cherokee Global Brands, a global brand marketing platform that manages fashion and lifestyle brands, has appointed John McClain to the board of directors. McClain will serve as an independent director and chair the board’s audit committee, effective immediately.
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Article
The classic post-scandal question to auditors: What happened in the black box?
When investors decry the black box of public company auditing, asking for more visibility, they’re referring to cases like KPMG’s audit work at Wells Fargo.
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Article
Pushback rises on disclosure of auditor, audit committee talks
Despite calls for transparency around the interaction between audit committees and auditors, angst runs deep about giving investors visibility into that dialogue.
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Article
10 reasons to be wary of new auditor disclosure rules
New disclosures required by auditors don’t produce any direct new rules for the public firms they audit, but companies can expect at least 10 potentially serious consequences.
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Blog post
Global report suggests better leveraging audit committees
Audit regulators are pondering how audit committees can be better leveraged to raise the bar on audit quality, including whether audit committees should have a more direct line of contact with audit regulators.
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Blog post
CAQ, others issue update to auditor assessment tool
Audit committees have an updated tool available for use to help them assess their external auditors, courtesy of a collaborative group of advocates for audit quality.
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Top accountant provides blueprint for effective audit committees
From education to composition, the SEC's top accountant recently gave audit committees a primer on everything it takes to be effective in the job these days.
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Blog post
Audit committees continue incremental disclosure increases
A fresh EY study of audit committee disclosures shows audit committees are still making new strides in increasing their voluntary disclosures in annual proxy statements. Tammy Whitehouse has more.
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Blog post
PCAOB reports compliance with communications standard
Image: The PCAOB said it is “encouraged” that most firms have complied with Auditing Standard No. 16, a standard governing communication with audit committees, as the board found no failures to comply in 93 percent of the audits reviewed in the 2014 inspection cycle. “The communication between an audit firm ...
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Blog post
Surveys, papers provide plenty of advice for internal auditors
Image: In a survey from KPMG and Forbes of more than 400 CFOs and audit committee members nearly 60 percent said they would welcome help in assessing risks and risk-managing practices, but only 22 percent said they get that from internal audit; 36 percent said they would like to see ...
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Blog post
SEC Mulls Audit Committee Mandates as Voluntary Disclosures Grow
As the SEC considers the potential for new disclosure requirements for audit committees, audit committees themselves are volunteering more, according to recent analysis by the Center for Audit Quality and Audit Analytics. The analysis revealed one-fourth of companies in the S&P 500 enhanced their discussion around the audit committee’s appointment ...
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Blog post
How Audit Committees Really Think About Risk
Image: Enterprise risk management is a hot subject in boardrooms across America these days, with big consequence for corporate compliance and audit professionals. Still, do audit committees have a clear sense of how they want to approach risk and risk management? Compliance Week editor Matt Kelly decided to look at ...
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Blog post
Doty Projects Year-End Completion of Engagement Partner ID
Image: More than a decade after regulators began mulling how to give some transparency to investors around who actually performs public company audits, PCAOB Chairman James Doty said he is hopeful that the board is on track to “get this done by the end of the year.” Doty recently said ...
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Blog post
EY Finds More Voluntary Audit Committee Disclosures
According to a recent report from EY, audit committees for the largest companies continue to raise the bar on what they voluntarily say in their reports about their responsibility for and oversight of the external audit. In its analysis, EY says 21 percent of audit committees disclosed in 2015 that ...
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Blog post
How Hard Is Audit Committee Reform? Here’s One Example
Image: The SEC has asked for public comment on possible changes to the disclosures audit committees are required to make, and let’s be honest: for a subject this thorny, the SEC needs all the help it can get. Compliance Week editor Matt Kelly explores one example of reform—communication between audit ...
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Article
PCAOB to Audit Committees: Help Us Help You
Image: The PCAOB’s latest guidance to audit committees will help them understand how to push their audit firms to dig deeper into risk. It may also, however, nudge audit committees to undertake risk and audit oversight the PCAOB itself cannot do. “In places like China, the PCAOB cannot inspect, but ...
