More Data Show Audit Fees Rising for Public Companies
A recent study from Financial Executives International of 7,000 public companies revealed that 20.6 percent reported ineffective internal controls over financial reporting, and the median audit fee increase for those companies was 3 percentage points higher than for public companies as a whole. The companies cited two primary reasons for ...
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Audit cost data hint at improvements in internal control
The newest data on audit costs suggest public companies, or at least the largest ones, might be getting a handle on internal control over financial reporting. Tammy Whitehouse reports.
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PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
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ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.