All Big Four articles – Page 4
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Article
Government watchdog group targets PCAOB performance
The PCAOB is taking heat from a government watchdog group, which says the audit regulator is “doing a feeble job” protecting investors.
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Article
Amid industry crackdown, U.K. audit firms evolving with the times
It’s been an intense year for the audit industry in the United Kingdom—and things are expected only to get tougher as a new audit regulator, with new leadership and stronger statutory powers, prepares to take the reins.
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Article
U.K. audit regulators see no improvement in audit quality
U.K. audit regulators saw no improvement in audit quality in their most recent inspections, indicating none of the major firms achieved targeted pass rates.
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Article
PCAOB disciplines former Big Four auditors
The PCAOB has disciplined two former Big Four auditors—one over an audit of internal control and the other over inspection issues.
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Article
CMA recommends major overhaul of U.K. audit market
The U.K. Competition and Markets Authority (CMA) has recommended reform of the audit market aimed at increasing quality and competition and breaking the stranglehold of the Big Four accounting firms.
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Article
FASB preps proposal to simplify income tax accounting
FASB is preparing a proposal to amend accounting standards in a way that is intended to ease the accounting for income taxes.
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Article
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.
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Article
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.
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Article
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.
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Article
U.K. narrow-minded to think breaking up Big Four a good idea
Big Four accounting expert James Peterson discusses ways in which the United Kingdom may dismantle the Big Four, the possible consequences of each of the proposals, and which he thinks is the better solution.
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Article
How audit firms are polishing their images
Audit deficiencies are just part of the picture when it comes to the reputational damage suffered by nearly every big firm. Jaclyn Jaeger looks at how the big audit firms are tackling bad marks from the PCAOB.
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Article
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.
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Article
Mind controls, disclosures on leases, Big Four firms advise
As companies face first-quarter reporting under lease accounting, Big Four firms are offering some last-minute pointers about controls and disclosures.
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Article
Deloitte wins, other Big Four firms lose audit clients in 2018
Deloitte led Big Four firms in picking up new audit engagements in 2018, while KPMG lost the largest number overall, according to the latest analysis.
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Blog
The U.K.’s coming auditor rotation nightmare
Noting that a number of U.S. headquartered banks are due to rotate their U.K. subsidiary auditor soon, the FRC said this would result in the group auditor in the U.S., which is not required to rotate, being different from the U.K. subsidiary auditor. What then?
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Blog
Big Four: Please don’t break us up
An in-depth look at responses to the Competition and Markets Authority proposals to reform the U.K. audit market.
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Article
CMA looks at tackling Big Four’s stranglehold of U.K. audit market
The audit market is facing serious scrutiny from the U.K. Competition and Markets Authority, which hopes to carve out external audit from consulting, impose a “joint audit” regime, and increase audit committee chair accountability.
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Blog
Big Four split on solutions to industry’s problems
Deloitte and KPMG have gone further than EY and PwC in their comments to the current CMA review of the industry, but it seems unlikely the members of the Big Four won't get on the same page.
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Article
No easy answers for breaking up Big Four in U.K.
The last time the U.K.’s Competition and Markets Authority attempted to break up what is widely referred to as an oligopoly of the audit market by the Big Four audit firms—EY, PwC, Deloitte and KPMG—its actions had the opposite effect.
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