The Center for Audit Quality and American Institute of Certified Public Accountants released a new roadmap that provides tools for independent auditors to support companies in achieving their ESG reporting goals.
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
FERF study: Average audit fees inch higher in 2019
In the 11th edition of its annual public company audit fee study, the Financial Education & Research Foundation reported an increase of 6 percent in average audit fees largely due to expanded scope.
Posted inAccounting & Auditing
FASB advances goodwill triggering event standard update
The Financial Accounting Standards Board ruled tentatively to move forward with and expand the scope of its proposed standard update regarding goodwill triggering events under Topic 350. The standard is expected to be finalized in March.
Posted inAccounting & Auditing
PCAOB 2019 inspection reports: Deloitte still tops; PwC deficiency rate rises again
Three of the Big Four audit firms—Deloitte, EY, and KPMG—improved their year-over-year deficiency percentage in the PCAOB’s 2019 inspection reports, while PwC’s deficiency rate increased for the third straight year.
Posted inAccounting & Auditing
New report highlights common financial statement fraud themes from SEC enforcement actions
A new report from the Anti-Fraud Collaboration analyzes the most common financial statement fraud themes noted in SEC enforcement actions and offers insights to mitigate the top risk areas.
Posted inAccounting & Auditing
CAQ review: Little surprises in Year 1 of CAM reporting
The Center for Audit Quality released its review of the first year of auditor reports for over 2,000 large accelerated filers that included the PCAOB’s new critical audit matters requirements.
Posted inAccounting & Auditing
FASB Chair Jones projects pandemic challenges to persist in 2021
New FASB Chairman Richard Jones said in a recent speech that he believes accounting challenges from the coronavirus pandemic won’t go away soon, with his organization poised to address new issues as they arise.
Posted inAccounting & Auditing
PCAOB reviews a year like no other, previews what lies ahead in 2021
PCAOB board members remark on changes at the organization amid the coronavirus pandemic, recent audit inspection findings, priorities for 2021, and more.
Posted inAccounting & Auditing
SEC’s Office of Chief Accountant acknowledges challenging year for auditors
Among other things, the SEC’s chief accountant discussed activities relating to public company financial reporting, accounting and auditing policy updates, and financial reporting considerations related to COVID-19 at a conference this week.
Posted inAccounting & Auditing
Things to consider for companies preparing for 2020 year-end audits
It’s no surprise that in a year like no other, there are a number of factors to consider for year-end audits that you might not be used to thinking about.
