All Internal Control over Financial Reporting articles – Page 2
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Blog
Two big holdouts still follow 1992 COSO framework
A handful of holdouts are still disclosing they comply with SOX internal control reporting requirements by following a defunct COSO framework.
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ArticlePreparers issue self-driven guides on ICFR over leases, CECL
ICFR guides by preparers and for preparers are meant to help the preparer community develop and document internal controls over leases and CECL adoptions.
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Article
Cigna, Wells Fargo describe journey to high-tech ICFR
Technology is permeating internal control over financial reporting, and one of its pioneers says the transition is possible even without a tech background.
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Blog
Rite Aid shareholders vote against Deloitte as auditor
A sizable chunk of Rite Aid’s shareholders has told the board it would like to dismiss Deloitte and hire a new audit firm.
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Blog
FEI group provides guides on leases, CECL controls
FEI’s corporate reporting group has developed its own guides for preparers on how to assure sound controls with major new accounting adoptions.
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Blog
PCAOB censures Deloitte Mexico partners in cross-border audits
The PCAOB has disciplined three partners at Deloitte Mexico, citing failures in cross-border audits that affected U.S. opinions.
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Blog
Adverse audit opinions on ICFR taper off in 2017
For the first time since 2010, adverse auditor opinions on internal control over financial reporting tapered off in 2017.
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Blog
PCAOB calls out two-thirds of audits at BDO USA
The PCAOB has handed BDO USA another scathing inspection report, finding 67 percent of the audits examined in 2016 failed to comply with standards.
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Blog
SEC will watch for SAB 74 disclosure leading to CECL
The SEC will be looking for increasingly detailed disclosures to investors about the expected effects of moving to a new method for recognizing credit losses.
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Blog
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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Blog
Restatements dip again in 2017, newest study shows
Title: Restatements dip again in 2017Restatements took another downward dip in 2017, suggesting continued improvement in financial reporting quality, according to the newest study from Audit Analytics.
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Article
Auditors plan deeper dives into outsource provider reports
As guidance changes and regulators continue to hammer on internal controls, auditors are starting to dig deeper into reports provided by outsourced service providers.
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Blog
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
Recent findings raise fresh questions over auditors and fraud
Recent findings against PwC illuminate audit failures that the PCAOB has been harping on for years, although its ultimate weight on auditors' duty to find fraud is not yet clear.
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Blog
FERF finds more evidence of audit cost creep in 2016
Another new study confirms public company audit costs inched upward in 2016, albeit by a smaller amount than in 2015.
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Blog
PCAOB findings on PwC, EY show small improvements
The PCAOB released its latest inspection reports for EY and PwC, documenting another year of small change in audit deficiency findings.
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Blog
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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Blog
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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Blog
Adverse internal control findings tapered off in 2016
For the first time since 2012, a slightly smaller number of companies in 2016 reported adverse findings on internal control, according to a new analysis.
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Article
Auditors tasked to study revenue readiness at year-end
Auditors are under clear orders from their regulators to show no mercy in their assessment of corporate transition to the new revenue recognition rules.
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