Although compliance should be the company’s primary responsibility, auditors have become the last line of defense and are getting pressured and blamed for supply chain issues, including instances of child labor. Is this expected to become the normal for the profession?
Maria L. Murphy
Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer. She is also a freelance writer for the AICPA (Journal of Accountancy and CPA Insider) and LegalZoom and a prior contributor to Thomson Reuters products. She writes content for corporate websites, newsletters, blogs, and press releases. She is the former editor in chief of the NYSSCPA’s CPA Journal. She spent her career in public accounting and private industry controllership, with extensive experience in accounting, auditing, quality control, and SEC reporting. Her passion is translating technical subject matter into user-friendly language and getting readers excited about accounting and compliance topics.
Posted inAccounting & Auditing
What future holds for PCAOB post China crackdowns
The Public Company Accounting Oversight Board’s first enforcement settlements with mainland China and Hong Kong firms won’t be the last, as the chair of the regulator says its “just getting started.” U.S. firms must be mindful of the specific ethical issues highlighted.
Posted inAccounting & Auditing
Auditor independence on regulators’ radars
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Posted inAccounting & Auditing
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Posted inAccounting & Auditing
Need to know: FASB proposal on accounting for crypto assets
The Financial Accounting Standards Board issued a proposed accounting standards update to improve accounting and disclosures for certain crypto assets.
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Accounting and reporting challenges of environmental credits
Companies are working on plans to reduce their carbon emissions. The popularity of environmental credits has grown as a way for companies to meet their emission reduction targets.
Posted inAccounting & Auditing
Cybersecurity challenges: Defense and disclosure
Experts share perspectives regarding the criticality of cybersecurity risks, what the response of management and boards should be, and how proposed disclosure requirements need to be incorporated into cyber-related responsibilities.
Posted inAccounting & Auditing
Report: Audit committees bracing for increased role in ESG, ERM, cyber
A new report from the Center for Audit Quality and Deloitte found corporate boards are taking a fresh look at their audit committee structures and practices to respond to emerging corporate reporting areas and increased risks.
Posted inFrom the Archive
Report: Audit committees bracing for increased role in ESG, ERM, cyber
A new report from the Center for Audit Quality and Deloitte found corporate boards are taking a fresh look at their audit committee structures and practices to respond to emerging corporate reporting areas and increased risks.
Posted inAccounting & Auditing
Climate and sustainability reporting challenges: Auditors’ perspectives
Partners from several of the top global accounting firms shared perspectives about the state of sustainability reporting and the impact on auditors and their clients at a recent industry event.