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Accounting & Auditing Update
The "Accounting & Auditing Update" is written by Tammy Whitehouse, a veteran business writer who has been a regular contributor to Compliance Week since 2005. Her work has also appeared in industry journals and periodicals including Journal of Business Strategy, Strategy & Leadership, Compensation & Benefits Review, Inc, Buyside, and myriad others. Whitehouse welcomes questions and comments from readers; she can be reached via e-mail at twhitehouse@complianceweek.com.
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Accounting & Auditing Update Blog
KPMG: Internal Controls Trump New Rules in List of Worries
Tammy Whitehouse | January 22, 2016
According to a recent KPMG poll, continued pressure on internal control over financial reporting is the most pressing concern for financial reporting executives. Nearly one-third of 400 respondents, or 31 percent, said internal controls are at the top of their worry list beyond their basic financial reporting responsibilities. One-fourth, or 26 percent, put data infiltration and IT security ahead of internal controls and other concerns, an area that bottomed out in the same survey only a year prior, KPMG says.
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Accounting & Auditing Update Blog
CAQ Reminds Auditors of Hot-Button Audit Issues
Tammy Whitehouse | December 4, 2014
A new Center for Audit Quality alert highlights issues that auditors will need to pay special attention to in the year-end review, such as revenue recognition, related-party transactions, and more. “This alert summarizes potential areas of risk and can be a useful resource for our auditing firm members as they head into the 2014 audit cycle,” CAQ Executive Director Cindy Fornelli said.
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