Audit regulators issued their 2017 inspection report on PwC, showing an uptick in the percentage of audits with deficiencies.
Tammy Whitehouse
Posted inAccounting & Auditing
Grant Thornton earns record low deficiency rate
Grant Thornton earned a record low deficiency rate on its newest audit inspection report, the first major firm to deliver a rate in the teens since 2009.
Posted inAccounting & Auditing
Companies walk judgment tightrope as Brexit doubts peak
Preparers are facing some brutal accounting judgments as they approach the end of a reporting period straddling key dates in a chaotic Brexit.
Posted inAccounting & Auditing
FASB revises proposed changes to income tax disclosure
FASB has revised its proposed changes on tax disclosures to respond to feedback to an earlier proposal and to reflect changes under tax reform.
Posted inAccounting & Auditing
Clarity, comparability still to come under new revenue rules
As companies wrap up their first year under the new revenue recognition standard, evidence of the learning curve and challenges with comparability are abundant.
Posted inAccounting & Auditing
PwC reduces damages in Colonial Bank failure
Appealing a court ruling, PwC reached a $335 million settlement with the FDIC over professional negligence claims in the failure of Colonial Bank.
Posted inAccounting & Auditing
Charts: Exclusive analysis of audit inspection reports
See how the big accounting firms compare in terms of audit deficiency rates for 2009 through 2016 and internal control deficiencies for 2016 based on PCAOB inspection report results.
Posted inAccounting & Auditing
Quality reports from major audit firms
In recent years, major audit firms have begun producing voluntary quality reports. We offer a sampling of findings from six of the biggest firms to accompany our auditing special report.
Posted inAccounting & Auditing
Transparency a game-changer for auditor evaluations
Under rising pressure to be more transparent about how they oversee auditors, proactive audit committees are raising their games when it comes to evaluating all aspects of their audit.
Posted inAccounting & Auditing
Best practices for determining audit quality
Various initiatives on producing audit quality indicators give audit committees some questions to ask or data points to consider in assessing their audits and their auditors.
