Audit & Accounting

Billionaire Charles Munger, who dismissed Ernst & Young LLP as auditor of his Daily Journal Corp., compared the accounting firm to a misguided physician.

The Institute of Internal Auditors has called on Congress today to fully support efforts by federal inspectors general to ensure unrestricted access to information needed for their investigations, as allowed by federal law.

Regulators have been clamping down on auditors of broker-dealers in recent years in response to the lack of meaningful audits of Bernard Madoff’s investment firm and other scandals uncovered during the financial crisis.

I’m a CPA, and I’m here to tell you financial reporting became simpler and easier to use in two significant areas.

The Public Company Accounting Oversight Board has released a new alert from the PCAOB staff warning auditors about deficiencies that have been seen in audits of revenue figures.

Mark Frissora, chief executive officer of Hertz Global Holdings Inc. stepped down today after investors had pushed for his removal, citing accounting and operational missteps.

The majority of audit committees at Fortune 100 companies are disclosing more information than in years past, especially about their assessment of their outside auditing firm, according to a new report.

The Institute of Internal Auditors has released a new practice guide demonstrating how the internal audit function can help businesses keep running in the event of a cyberattack or a natural disaster.

The most influential people in the field of accounting, as chosen by their peers.

ACL has released new versions of its analytics software for audit, risk management and compliance professionals, and added new subscription services.