All PwC articles – Page 3
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ArticlePCAOB 2019 inspection reports: Deloitte still tops; PwC deficiency rate rises again
Three of the Big Four audit firms—Deloitte, EY, and KPMG—improved their year-over-year deficiency percentage in the PCAOB’s 2019 inspection reports, while PwC’s deficiency rate increased for the third straight year.
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ArticleReport shows Big Four stranglehold in U.K. near unavoidable
A review by the U.K. Financial Reporting Council found large companies will instinctively hire a Big Four firm as auditor, despite efforts by the regulator to break their dominance and open up the country’s audit market to smaller competitors.
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ArticleFRC: Major audit quality at Grant Thornton UK, Mazars ‘unacceptable’
The U.K. Financial Reporting Council has singled out audit firms Grant Thornton and Mazars as needing to significantly improve audit quality in the wake of recent inspection findings.
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ArticleHow auditors can help companies with non-GAAP measures, KPIs
A new report from the Center for Audit Quality includes key questions audit committee members can ask to fulfill their oversight responsibilities as they discuss non-GAAP financial measures and KPIs with management and auditors.
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ArticleEx-FASB head Golden to lead PwC independent advisory committee
Big Four audit firm PwC announced the addition of former Financial Accounting Standards Board head Russell Golden as chair of its recently formed, independent Assurance Quality Advisory Committee.
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ArticleFRC audit inspections: Deloitte leads way as quality declines as a whole
The Financial Reporting Council published the results of its latest round of audit inspections, concluding one-third of the reviewed audits conducted by the seven largest U.K. firms required a notable level of improvement.
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ArticleWill U.K. mandate that Big Four separate audit units make a difference?
The FRC hopes its demand that the Big Four isolate their audit units from their other businesses by 2024 will improve their ethical behavior … but some are skeptical.
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ArticleFRC to probe EY, PwC audits of London Capital & Finance
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
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ArticlePCAOB 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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ArticleFRC probes KPMG, PwC over audits of Eddie Stobart Logistics
The U.K. Financial Reporting Council has launched investigations into Big Four firms KPMG and PwC concerning the audits of U.K. logistics company Eddie Stobart Logistics.
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ArticlePwC guidance: Navigating audit committee responsibilities amid the coronavirus pandemic
Internal auditors will want to check out a recent publication from PwC on how to navigate core audit committee responsibilities amid the coronavirus pandemic.
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PwC survey: Finance leaders worried about global recession
The potential for the coronavirus outbreak to lead to a global recession topped the list of concerns among finance leaders based in the United States and Mexico, according to a new survey released by PwC.
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ArticleAudit client turnover 2019: Deloitte dominates; KPMG, EY, PwC falter
For the fifth consecutive year, Deloitte net positive in new SEC audit engagements while the rest of its Big Four peers saw net decreases in clients, according to the latest annual study from Audit Analytics.
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ArticleFRC sends letter to Big Four outlining ‘operational separation’
The U.K. Financial Reporting Council penned a letter to the Big Four outlining expectations for how the auditors should go about separating their audit work from their consultancy business.
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ArticleBig Four score: EY, KPMG, PwC, Deloitte among Fortune’s 100 best companies list
Fortune’s 2020 list of the 100 Best Companies to Work For is out, and accounting firms are again among them. All four of the Big Four firms are in the top 50, as is Plante Moran.
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ArticleFRC reveals key trends in U.K. accountancy profession
A new report from the U.K.’s Financial Reporting Council says the Big Four increased their combined “total fee income” by 4.7 percent—even amid a year fraught with accounting scandal.
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ArticleBig Four stranglehold on U.K. audit market widens
The Big Four’s dominance of the U.K. audit market has grown even further in the past year, according to the Financial Reporting Council’s latest report.
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ArticleBig Four to FASB: Guidance needed on supplier financing arrangements
The Big Four accounting firms are asking FASB to provide guidance regarding the financial statement disclosures that should be provided by companies that have entered supplier finance programs involving their trade payables.
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ArticleStudy: Shareholder support down for board nominees
The number of board nominees who failed to receive majority shareholder support in the first six months of 2019 reached a five-year high, according to the latest ProxyPulse report.
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ArticleFRC investigates EY over Thomas Cook’s books
The U.K. Financial Reporting Council is investigating EY over the audit work it carried out at travel firm Thomas Cook, which recently declared bankruptcy.