All Public Company Accounting Oversight Board articles – Page 6
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PCAOB to adopt SEC auditor independence updates
The Public Company Accounting Oversight Board will adopt amendments to its independence standards to align with recent updates initiated by the Securities and Exchange Commission.
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Chief Auditor Zietsman to join PCAOB board
The Securities and Exchange Commission announced changes to the Public Company Accounting Oversight Board, including the appointment of Megan Zietsman as a board member for a term ending in October 2025.
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PCAOB adds independence, evidence projects to agenda
The Public Company Accounting Oversight Board has added projects regarding auditor independence and audit evidence to its research and standard-setting agendas.
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PCAOB study: Improved quality control needed in broker-dealer audits
Modest improvements in the audits of broker-dealers do little to absolve the need for firms to evaluate how they can enhance their systems of quality control, according to the latest figures from the PCAOB.
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PCAOB: Increased audit communication a silver lining of pandemic
The PCAOB’s latest “Conversations with Audit Committee Chairs” update highlights the benefits committee chairs say they have gleaned from increased communications with auditors during the coronavirus pandemic.
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PCAOB inspection reports: Deloitte shines in 2018; KPMG still behind
The Public Company Accounting Oversight Board issued 2018 inspection reports for the six largest U.S. audit firms, with Deloitte boasting the fewest deficiencies among the Big Four and KPMG struggling most.
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KPMG audit partners settle test cheating allegations
The KPMG cheating scandal expanded this week as three former partners at the firm settled charges with the SEC regarding the improper sharing of answers for internal training exams.
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PCAOB inspection pause ends without extension
The Public Company Accounting Oversight Board announced the conclusion of its coronavirus-related 45-day relief period on audit inspections without an extension.
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CAQ exec: How audit must adapt amid coronavirus challenges
Julie Bell Lindsay, executive director of the Center for Audit Quality, shares her perspectives on how public company auditors are coping with new challenges from the coronavirus pandemic.
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PCAOB seeks more practitioner input on CAMs
The Public Company Accounting Oversight Board is seeking practitioner comment on Critical Audit Matter requirements, part of the agency’s strategic plan to solicit more input from stakeholders.
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PCAOB grants auditors 45-day relief period from inspections
The Public Company Accounting Oversight Board is giving audit firms a maximum 45-day relief period from the inspection process during the COVID-19 pandemic.
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PCAOB vet Mark Adler to depart
The Public Company Accounting Oversight Board announced Mark Adler, former acting director of its Division of Enforcement and Investigations, is leaving after more than nine years with the agency.
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PCAOB, 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.
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PCAOB appoints general counsel
The Public Company Accounting Oversight Board announced Kenneth Lench has been named general counsel.
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PCAOB 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.
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PCAOB 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.
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PCAOB 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.
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Senators 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.”
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Ex-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.
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SEC 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.