PCAOB previews improvements from 2015 inspection cycle
A staff inspection brief issued this month by the PCAOB showed that preliminary counts from inspections performed in 2015 suggest the number of audit deficiencies for the largest firms has fallen, while deficiencies at smaller firms is, overall, high. The PCAOB brief stated that inspectors observed “indications of improved audit ...
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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.