Audit Inspections: Improvement? Maybe. Costs? Yes.
Image: Five years of increasingly rigorous PCAOB inspections have driven audit firms to improve their efforts at scrutinizing corporate financial statements and internal control. Companies receiving that pressure say the heightened scrutiny is clear; the question is whether it is making audits better, or just bigger and more expensive. “Companies ...
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Mitigating auditor liability
Image: Audit committee and external auditors who fail to reasonably carry out their responsibilities increasingly are finding themselves in the crosshairs of the SEC’s Division of Enforcement. “Over the past few years, the staff has really put a lot of focus into financial reporting and auditing enforcement matters. That means ...
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WebcastDec 16 | Hot Topics in Risk and Compliance: AI, Analytics, and Emerging Audit Technologies
Join experts from KPMG, Cisco, and Workiva as they explore how audit, accounting, and finance professionals can leverage a technology mix of data analytics, gen AI, and other tools to ramp up efficiency and strengthen control effectiveness.
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ArticleFRC’s plans for more flexible enforcement gains support
Plans to give the U.K.’s audit regulator more options to regulate firms for sloppy work have been largely well received by experts, who believe the current system is “inflexible,” “cumbersome,” and “slow.”