All PCAOB articles – Page 7
-
ArticleSEC: Potential impact of coronavirus on audit quality
The SEC and PCAOB have issued a joint statement updating their recent conversations with audit firm leaders on audit quality oversight challenges in China, including the potential impact of the coronavirus on financial disclosures and audit quality.
-
ArticleFASB Chairman Golden’s agenda setting 101
Have you ever wondered how FASB decides what issues to include in its technical agenda? Chairman Russell Golden explained recently the process for identifying the right accounting issues to address.
-
ArticlePCAOB, CFPB big losers in Trump’s proposed budget
President Trump’s proposed budget for fiscal year 2021 effectively calls for an end to the PCAOB beginning in 2022, while the CFPB would be subject to major funding cuts as soon as next year.
-
ArticleSEC bars former KPMG leader atop ‘chain of corruption’
The Securities and Exchange Commission has suspended a former KPMG leader from appearing or practicing before the SEC after he was convicted of a felony last year.
-
ArticleTip sheet: 2020 priorities for accounting and audit regulators
With the new year under way, we highlight some focus areas of accounting and audit regulators—SEC, PCAOB, and FASB—that should be top of mind for boards of directors.
-
ArticleHot topics for 2019 year-end audits
As auditors get ready for year-end audits, internal controls and new accounting standards are on their radar.
-
ArticlePCAOB: Best practices in improving audit quality
The PCAOB has published a document that offers insights from audit committee chairs on what procedures have worked best for them in improving audit quality.
-
Article
PCAOB appoints general counsel
The Public Company Accounting Oversight Board announced Kenneth Lench has been named general counsel.
-
ArticlePCAOB seeks input on modernizing QC standards
The PCAOB is accepting public comment on a potential approach to revising the board’s quality control standards in place since 2003 and outdated by modern technology.
-
ArticlePCAOB CAMs report: Goodwill, revenue recognition lead way
Goodwill and other intangible assets and revenue recognition are among the most frequently communicated critical audit matters, according to the Public Company Accounting Oversight Board’s first report on the new disclosure.
-
ArticleAt rare open meeting, PCAOB says it’s on path to change
A recent PCAOB open meeting reviewed details about shareholder outreach and offered a view into its five-year strategic plan.
-
ArticlePCAOB sanctions Deloitte, BDO affiliates
The PCAOB, recently under fire for its lack of enforcement, has imposed sanctions on Deloitte Korea and BDO Mexico for altering audit documentation in anticipation of inspections.
-
ArticleSenators call out SEC over PCAOB whistleblower report
A letter sent by two senators addressed to SEC Chairman Jay Clayton critiques the regulator’s oversight of the PCAOB as showing “questionable judgment and an alarming lack of transparency.”
-
ArticlePCAOB swaps board members, faces whistleblower report
The SEC has ousted Kathleen Hamm as a board member at the PCAOB, replacing her with White House aide Rebekah Goshorn Jurata. The swap, along with a whistleblower report, signal internal strife at the audit regulator.
-
ArticleEx-PCAOB leader gets prison time for role central to KPMG scandal
Former PCAOB Inspections Leader Jeffrey Wada was sentenced to nine months in prison for providing the confidential information central to the long-running KPMG inspections scandal.
-
ArticleStudy: Small firms more likely to report ineffective ICFR
A recent study from Audit Analytics that analyzed SOX 404 disclosures in the past 15 years reveals some interesting trends surrounding large and small companies’ internal control over financial reporting.
-
ArticleHouse approves PCAOB whistleblower program
The U.S. House of Representatives has passed a bill to move the creation of a whistleblower program at the PCAOB forward. While some praised the development, others cautioned it’s a redundant and flawed measure.
-
ArticleSEC explores possible new rules on auditor independence
SEC Chairman Jay Clayton has instructed staff to follow up on concerns raised in public comments with respect to auditor independence requirements.
-
ArticleEY analysis: Audit committees increasing their disclosures to shareholders
Audit committees continue to increase the amount of disclosures they are providing to shareholders across a wide variety of categories, according to a recent analysis conducted by EY.
-
ArticleEx-KPMG leader atop 'chain of corruption' gets a year and a day in jail
A former KPMG leader was sentenced to one year and one day in federal prison and three years of supervised release for his role in a scheme to subvert the regulatory inspection process.