All Inspections articles
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Blog
PCAOB releases KPMG's 2016 report, 3 others
The PCAOB has published its report on KPMG’s scandal-ridden 2016 inspection, along with three other reports, describing high levels of audit deficiencies and mismanagement of quality.
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PCAOB finalizes new standards on estimates, specialists
Auditors have new rules to follow in auditing accounting estimates and in relying on the work of specialists to arrive at audit opinions.
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PCAOB plans continued focus on review controls in 2019
The PCAOB saw some improvement in the audit of management review controls during its 2018 inspections, but it’s still an area of focus into 2019.
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PCAOB plans new focus on quality control in inspections
The PCAOB plans to take a much closer look at how firms manage audit quality in 2019, retooling the inspections process to focus on quality control systems.
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Third ex-KPMG partner pleads guilty in inspection leak
A third ex-KPMG partner has consented to a guilty plea in connection with charges of fraud and conspiracy in regulatory inspections.
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Changes to PCAOB inspections will begin in 2019
A new approach to audit inspections will begin in 2019, with changes intended to focus on prevention and deterrence, new PCAOB chairman says.
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PCAOB invites comment on slimmer strategic plan
Audit regulators are inviting feedback on a slimmed-down strategic plan, giving stakeholders a chance to influence how to regulate public company auditing.
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SOX-related audit costs rise again in 2017, poll says
Half of the largest public companies saw SOX-related audit costs rise in 2017, driven by regulatory pressure, M&A activity, and new accounting rules.
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Responding to setbacks, KPMG adds outside directors
After some serious blows to its reputation, KPMG has decided to add outside directors to its board.
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New PCAOB seeks input on new strategic plan
A brand new slate of audit regulators is looking for some direction as it takes the helm at the PCAOB and establishes a new strategic plan.
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Article
PCAOB ponders plateau, calls on firms to dig deeper
With PCAOB inspection results hitting a plateau, how can auditors be held accountable for better audit quality? Amid allegations of fraud and conspiracy, is culture a factor?
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Amid fraud, conspiracy charges, should inspection results be restated?
Former KPMG leaders gamed up to two years of inspection results, federal authorities say, but no one will discuss whether those results can or should be corrected.
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PCAOB delivers improved report card on Grant Thornton
Grant Thornton's latest PCAOB inspection report, dating to 2016, shows improvement over prior year results.
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New report on Deloitte shows no change in audit findings
Audit regulators found problems with 24 percent of the audits they inspected at Deloitte in 2016, the same number inspectors flagged in 2015.
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Calling out usual audit ills, PCAOB also ponders next steps
While acknowledging audit firms have taken measures to address adverse inspection findings, the PCAOB also is starting to ask if the firms are doing enough.
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ArticleFor 2017 close, expect auditors to queue up queries on 2018
In preparing for the year-end close, companies should brace for auditors’ questions about the riskiest reporting areas, especially accounting rules taking effect in 2018.
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PCAOB sees some improvement, yet room for more
Based on its latest round of audit inspections in 2017, the PCAOB found some improvement at some firms, but still plenty of work to do to meet standards.
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Is audit quality essentially a people problem?
Where there are problems with audit quality, it appears to be more of a problem with people than with institutional approaches to audit work.
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SEC opens search for PCAOB members, including chair
New leadership will soon take over the helm of the PCAOB after SEC Chairman Jay Clayton opens a public search for as many as four board positions.
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Blog
SOX pros say external audit costs increased in 2016
Big companies subject to SOX reporting said their external audit costs increased in 2016 as auditors continue to report pressure from PCAOB inspections.