All Big Four articles
-
PremiumPCAOB 2022 inspection reports: Big Four setbacks; KPMG redacted
Three of the Big Four audit firms saw increases to the deficiency rates observed in their latest Public Company Accounting Oversight Board inspection reports, while KPMG had its results redacted.
-
News BriefKPMG fined $1.9M by FRC over M&C Saatchi audit lapses
KPMG agreed to pay a reduced penalty of nearly £1.5 million (U.S. $1.9 million) assessed by the U.K. Financial Reporting Council addressing admitted failings in the Big Four audit firm’s financial year 2018 work at advertising services company M&C Saatchi.
-
PremiumWhat 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.
-
PremiumStiffer U.K. audit penalties posing more problems?
Legal experts are unconvinced record fines against audit firms imposed last year by the U.K. Financial Reporting Council will necessarily improve audit quality.
-
News BriefFRC drops investigation into PwC’s Intu Properties audits
The U.K. Financial Reporting Council announced it closed its investigation into Big Four firm PwC’s audit work at collapsed real estate investment trust Intu Properties.
-
Resourcee-Book: Goals of a modernized TPRM program
Companies have shown a willingness to invest in technology to enhance their third-party risk management efforts. But that doesn’t mean new opportunities don’t remain.
-
News BriefChina-based PwC affiliates fined $7M in historic PCAOB actions
The Public Company Accounting Oversight Board imposed $7 million in total penalties against two PwC affiliates under its first settlements with mainland Chinese and Hong Kong firms since the passage of the Holding Foreign Companies Accountable Act.
-
PremiumSpanish labor ministry continues working condition crusade with Big Four fines
Spain’s labor ministry fined the Big Four accountancy firms at least €1.4 million (U.S. $1.5 million) total for overworking and underpaying their respective employees, continuing a recent trend in the country of the government cracking down on apparent labor violations.
-
PremiumAA report: Inflation helps drive audit fees to all-time high
Average audit fees paid to external auditors by Securities and Exchange Commission registrants reached record totals in fiscal year 2022, according to the latest annual study.
-
PremiumFRC 2022/23 audit inspections: Big Four steady; BDO and Mazars improve
The U.K. Financial Reporting Council noted overall improvement in annual inspection and supervision results for the largest audit firms for a fourth consecutive year as part of its latest quality review.
-
News BriefFRC probing Deloitte work at retailer Joules Group
The U.K. Financial Reporting Council launched an investigation into the work of Big Four audit firm Deloitte at collapsed clothing retailer Joules Group.
-
News BriefFRC probing KPMG audit of Carr’s Group
The U.K. Financial Reporting Council is investigating the work of Big Four firm KPMG during a 2021 audit at agriculture and engineering services provider Carr’s Group.
-
News BriefKPMG fined $1.1M for admitted deficiencies in Luceco audit
Big Four audit firm KPMG and one of its former directors were disciplined by the U.K. Financial Reporting Council regarding eight admitted breaches of relevant requirements in their fiscal year 2016 work at lighting and wiring product distributor Luceco.
-
News BriefEY Germany receives two-year ban over Wirecard audit work
Big Four audit firm EY will be prohibited from taking on new public interest clients in Germany for two years following an investigation into its work at collapsed payment processor Wirecard.
-
PremiumAudit client turnover 2022: Deloitte gains among Big Four, Marcum biggest winner
Deloitte was the only Big Four audit firm to net positive in new public company clients in 2022, while Marcum saw the largest overall gains a year removed from losing 110 clients, according to the latest annual study.
-
News BriefPwC fined $6.6M over Babcock International, Devonport audit breaches
The U.K. Financial Reporting Council fined Big Four firm PwC more than £5.6 million (U.S. $6.6 million) for failing to challenge management, obtain sufficient evidence, and follow basic requirements while conducting audits of a British defense contractor and its subsidiary.
-
News BriefFRC probing PwC audits at collapsed property group Intu
The U.K. Financial Reporting Council launched an investigation into Big Four firm PwC’s audit work at collapsed real estate investment trust Intu Properties.
-
PremiumAudit exam cheating findings spark concern of endemic trend
Recent penalties against Big Four audit firms KPMG, PwC, and EY over allegations of widespread exam cheating have raised concerns prompting regulators to investigate the extent of the practice.
-
News BriefFRC probing EY audit of Veolia unit
The U.K. Financial Reporting Council launched an investigation into Big Four audit firm EY’s work at Scotland-based Stirling Water Seafield Finance.
-
ArticlePCAOB 2021 inspection reports: PwC sees best results again; EY deficiencies increase
For the second straight year, PwC fared the best among inspection results released by the Public Company Accounting Oversight Board for the largest U.S. audit firms, including each of the Big Four, Grant Thornton, and BDO.