Audit News from Accounting Today

Big Four firm KPMG signed 17 new SEC audit engagements, followed closely by Deloitte, CBIZ and Carr Riggs & Ingram.

Internal auditors are facing a heightened risk of fraud at organizations as schemes change and internal controls weaken over time, according to a new report.

The idea of semi-annual reporting is a guaranteed self-inflicted disaster, like using a knife while gripping the blade instead of the handle, writes Paul Miller.

Top 10 Firm Grant Thornton announced the launch of gtap, a proprietary audit infrastructure intended to redefine how the firm performs audits.

When a CPA signs off on a work product that an AI system helped produce, what is the independent verification standard that certifies the system producing that work is actually reliable? There isn't one.

Plus, Suralink introduces Workpaper Suite Intelligence; Xero announces Xero Coaches; and other news and updates from the accounting tech world.

Officials discussed the SEC's proposal for a semi-annual reporting option along with new accounting standards at a Baruch College conference.

The Public Company Accounting Oversight Board posted updates to its projects as it waits for public comments on its 2026-2030 strategic priorities.

Boomer Consulting launched a Tax Leader Circle and Audit Leader Circle.

The Securities and Exchange Commission is proposing to allow public companies to report twice a year at the urging of President Trump.

Few enterprise risk management programs are truly integrated into strategic decisions, according to a new report.

The Institute of Internal Auditors is calling on lawmakers and policymakers to strengthen their oversight of prediction markets such as Kalshi and Polymarket.

KPMG is shutting down its audit practice for the federal government after losing a Pentagon contract, and laying off 4% of its U.S. advisory practice.

The PCAOB found that audit committee chairs are increasingly turning to their auditors to understand AI's impacts on a company's financial reporting and controls.

Big Four firm KPMG is eliminating approximately 100 partners in its U.S. audit and assurance practice, after not enough of them accepted an early retirement program.

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Plus, Tieout announces launch; LogicGate touts Config Newton, an agentic GRC Engineer; and other news and updates from the accounting tech world.

In its 2025 annual report, the PCAOB found that 60% of registered firms did not perform issuer, broker-dealer or substantial-role audits.

The International Forum of Independent Audit Regulators released a report summarizing its annual survey of inspection findings from audit regulators around the world.

Cybersecurity remains a key concern, according to the Center for Audit Quality and Deloitte's new report on audit committee effectiveness and priorities.