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“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
PCAOB Explores Tension Over Internal Control Audits
Image: The PCAOB apparently is taking seriously complaints that its inspection process is driving unnecessary audit work. At a recent conference, PCAOB member Jay Hanson said the board has studied its inspection process to assure that inspections are not imposing new audit requirements. Still, he said, “we cannot rule out” ...
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The U.K. Financial Reporting Council has launched an investigation into MacIntyre Hudson’s audit of collapsed construction company ISG Limited, which abruptly entered administration in September, laying off 2,200 workers.
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News BriefPCAOB fines KPMG units $3.4M, PwC Singapore $1.5M for audit, independence violations
Nine affiliates of KPMG agreed to pay a total of nearly $3.4 million for alleged violations of audit and quality control standards, while PwC Singapore will pay $1.5 million to settle separate allegation that the firm manipulated independence compliance reporting.
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OpinionWhy are CFOs struggling to stay compliant?
CFOs are tasked with overseeing an organization’s entire financial processes, not least ensuring that financial operations remain compliant with the multitude of global regulations. It’s a heavy burden to carry that might be alleviated slightly with the help of artificial intelligence, writes Markus Hornburg, head of compliance at Basware.