PCAOB

The Public Company Accounting Oversight Board found specific deficiencies in the testing of internal controls and accounting estimates, and in engagement quality reviews.

Hindering the audit marketplace creates risk for the investing public, says the AICPA's Sue Coffey.

The Public Company Accounting Oversight Board ramped up enforcement, modernized standards, enhanced inspections and expanded engagement in 2024.

Auditing firms are asking the SEC to reject the Public Company Accounting Oversight Board's recent standards on firm and engagement metrics and firm reporting.

The PCAOB will be able to address situations in which a registered firm has ceased to exist, is nonoperational, or no longer wishes to remain registered.

In a comment letter, the institute says the board's new requirements could drive smaller auditing firms out of the market.

The Public Company Accounting Oversight Board's 2025 budget totals $399.7 million, and the accounting support fee totals $374.9 million.

The average audit fee increased to $3.01 million in 2023, up from $2.83 million in the previous cycle, according to a new report.

Auditing firms appear to be making headway on fixing some of the problems identified by the Public Company Accounting Oversight Board.

The Public Company Accounting Oversight Board will continue its inspection focus on public companies in the financial, real estate and information technology sectors.

The Public Company Accounting Oversight Board is also offering insights on improving audit committee communications and a video on the new confirmation standard.

The Public Company Accounting Oversight Board sanctioned Raines & Fischer and three of its partners for attempting to deceive inspection staff and other violations.

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

The Public Company Accounting Oversight Board posted a disciplinary order sanctioning Weinstein International CPA and its sole partner for audit and quality control failures.

The Public Company Accounting Oversight Board introduced two pieces of guidance to help auditing firms apply its new quality control standard.

The American Institute of CPAs is still concerned about the Public Company Accounting Oversight Board's new firm and engagement metrics standard, despite some modifications from the original proposal.

The Public Company Accounting Oversight Board voted to adopt new requirements to report on various metrics for the firm and its engagements.

PricewaterhouseCoopers has been focusing on auditing under a new PwC US assurance leader, Deanna Byrne, who began the job in July.

Bush & Associates, Barton, Crowe Hussain Chaudhury, KPMG India and RSM Brazil settled sanctions for violating PCAOB reporting requirements.

Facing a backlash about its proposal to toughen standards for failing to detect noncompliance with laws and regulations, the board is putting off action on the standard.