All Audit Quality articles
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News BriefSEC chief accountant eyeing auditor use of network member firms
The Securities and Exchange Commission is paying added scrutiny toward audit firms’ increasing use of network affiliates in their work and the potential for inconsistent quality that comes with such an approach.
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ArticleFRC: Major audit quality at Grant Thornton UK, Mazars ‘unacceptable’
The U.K. Financial Reporting Council has singled out audit firms Grant Thornton and Mazars as needing to significantly improve audit quality in the wake of recent inspection findings.
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ArticleSEC: Potential impact of coronavirus on audit quality
The SEC and PCAOB have issued a joint statement updating their recent conversations with audit firm leaders on audit quality oversight challenges in China, including the potential impact of the coronavirus on financial disclosures and audit quality.
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ArticleGovernment watchdog group targets PCAOB performance
The PCAOB is taking heat from a government watchdog group, which says the audit regulator is “doing a feeble job” protecting investors.
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ArticleU.K. audit regulators see no improvement in audit quality
U.K. audit regulators saw no improvement in audit quality in their most recent inspections, indicating none of the major firms achieved targeted pass rates.
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ArticleRegulators globally still call for better audits
While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.
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Blog
IOSCO report gives marching orders to audit committees
Securities regulators globally have banded together to call on audit committees to take a fresh look at their role in promoting and supporting quality audits.
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BlogGrant Thornton forms audit quality advisory panel
Grant Thornton is joining the Big 4 in appointing more leadership to its firm governance to drive more focus on audit quality.
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Blog
AICPA develops new benefit plan auditing standards
With new professional standards soon to be finalized, auditors are working on a plan to improve the quality of employee benefit plan audits.
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Blog
Rite Aid shareholders vote against Deloitte as auditor
A sizable chunk of Rite Aid’s shareholders has told the board it would like to dismiss Deloitte and hire a new audit firm.
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Blog
Changes to PCAOB inspections will begin in 2019
A new approach to audit inspections will begin in 2019, with changes intended to focus on prevention and deterrence, new PCAOB chairman says.
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Blog
PCAOB invites comment on slimmer strategic plan
Audit regulators are inviting feedback on a slimmed-down strategic plan, giving stakeholders a chance to influence how to regulate public company auditing.
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Blog
Audit leaders issue statement to new audit recruits
As a new crop of college graduates joins the audit profession, U.S. audit leaders issued a joint statement to sell them on the viability of their career path.
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Blog
IOSCO proposal seeks to set practices for audit committees
International regulators are developing a broad proposal to call for improvements in audit committee oversight of external auditors.
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BlogU.K. audit regulator rips quality at major firms
Audit regulators in the United Kingdom have taken off the gloves in their assessment of audit quality among the major firms, especially the Big 4.
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Blog
PCAOB fines Deloitte over software revenue errors
Audit regulators have censured and fined Deloitte over a series of self-reported accounting errors that led to restatement at technology firm Jack Henry & Associates.
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Blog
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
New study says long audit tenure slows corrections
Recently published academic research suggests there is indeed a detriment to audit quality when audit firms hold long tenures on audit engagements.
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Blog
Delayed inspection reports will show plateau in audit improvements
When reports begin to emerge on the latest inspection findings for the major audit firms, they will show no broad, appreciable improvements over the prior year.
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Blog
Investors urge PCAOB to collect audit firm financials
In a largely symbolic gesture, an investor panel voted to recommend to the PCAOB that it collect audited financial statements from registered audit firms.