PCAOB Lays Bare Its 2015 Inspection Strategy
Image: The PCAOB has published a staff inspection brief mandating that inspectors scrutinize the audit of internal control over financial reporting, the auditor assessment of (and response to) risks of material misstatements, and the audit of accounting estimates. “We hope that audit firms and other stakeholders find this information about ...
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
Article
Year-End Audits: Start Prepping for the Pain
As public companies and their external auditors gear up for the year-end audit cycle, it will likely include some familiar, yet still uncomfortable, conversations. Be ready for close looks at internal control over financial reporting, accounting estimates, and related-party transactions. “You can rest assured auditors are going to be really ...
-
ArticleFrench investigators target anticompetitive practices in largest accounting firms
Major accountancy firms in France are under investigation for anti-competitive practices. The French competition watchdog embarked on a series of “unannounced inspections” and removed documents relating to audit and reporting on Jan. 13.
-
OpinionSOX was built for humans. AI doesn’t fit that model.
For more than two decades, assurance and compliance frameworks have rested on a simple assumption: Material decisions are made by people. Post‑Sarbanes-Oxley Act (SOX) assurance reset worked because it aligned accountability with human behavior. That assumption shapes how internal controls are designed, how accountability is assigned, and how assurance is ...