Deloitte and Grant Thornton each had net increases in new public company audit clients in 2021, but all but one of the other Big Four and global and national firms experienced net decreases or no change, according to the latest annual study.
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
Audit client turnover 2021: Deloitte, Grant Thornton lead national firms; EY, KPMG, PwC see declines
Deloitte and Grant Thornton each had net increases in new public company audit clients in 2021, but all but one of the other Big Four and global and national firms experienced net decreases or no change, according to the latest annual study.
Posted inAccounting & Auditing
Report: Record low number of going concern opinions in FY2020
Public companies receiving going concern audit opinions during fiscal year 2020 were at the lowest number and percentage in the past 21 years, with little change among common issues, according to the latest report from Audit Analytics.
Posted inAccounting & Auditing
Audit committees rolling with punches of evolving role
Two prominent audit committee chairs speak to the results of a Deloitte Center for Board Effectiveness and Center for Audit Quality report on audit committee practices and the major issues audit committees face today.
Posted inAccounting & Auditing
ESG reporting: A summary of investor needs and wants
An investor-focused panel at a recent event shared views on investors’ perspectives about current and future use of ESG metrics and disclosures and where common ground can be found between the providers and users of the information.
Posted inAccounting & Auditing
AA study: Total audit fees decline in 2020 for first time in decade
Total and average audit fees in 2020 each declined for the first time since 2010, according to the latest Audit Analytics research.
Posted inAccounting & Auditing
ESG reporting: A summary of preparers’ perspectives
Preparers speaking at a pair of recent high-profile accounting and auditing conferences discuss current practices and the challenges their controllership teams face in ESG reporting and governance.
Posted inAccounting & Auditing
Cybersecurity trends continue in 2021 audit committee transparency report
The most dramatic increase in audit committee disclosures in proxy statements for the second consecutive year was in responsibility for cybersecurity risk oversight, according to the latest report from the Center for Audit Quality and Audit Analytics.
Posted inAccounting & Auditing
Report: Restatements drop to record low in 2020
Financial statement restatements by public companies declined in 2020 to their lowest level in 20 years, according to the latest Audit Analytics study.
Posted inAccounting & Auditing
What companies/auditors need to know for 2021 year-end audits
The continued effects of the pandemic, along with the implementation of new accounting standards, have companies and their auditors confronting substantial change in year-end audits.