PCAOB

The Public Company Accounting Oversight Board found that 29% of companies with major restatements reported an auditor change in the year preceding the restatement.

The Public Company Accounting Oversight Board sanctioned Daniel Carpio Diaz, a former EY Peru audit partner, for violating multiple rules and standards.

The Public Company Accounting Oversight Board released staff guidance to help auditors implement Paragraph .10A of AS 1105, "Audit Evidence."

Over 90% of SPACs were audited by firms outside of the six largest firms, according to the PCAOB.

The Public Company Accounting Oversight Board co-hosted a two-day conference highlighting the work of academic researchers.

The penalties include a $100,000 fine, and training requirements on communication between predecessor and successor audits.

More than 1,000 (69%) of the 1,458 exchange-listed EGCs are audited by larger firms, the PCAOB found.

Issuers must meet regulatory requirements, including SEC filings and compliance with auditing standards set by the PCAOB.

The PCAOB staff continues to see deficiencies related to the review procedures required by Attestation Standard No. 2.

The Technology Innovation Alliance Working Group issued four recommendations to promote responsible use of technology in audits.