PCAOB

The shakeup at the Public Company Accounting Oversight Board continued with the announcement Tuesday that Claudius Modesti, director of the PCAOB’s Division of Enforcement and Investigations, will be leaving at the end of the month.

The Public Company Accounting Oversight Board censured Deloitte & Touche LLP and imposed a $500,000 penalty against the Big Four firm for overlooking material accounting errors during three consecutive audits of Jack Henry & Associates, Inc., a Missouri-based IT provider for banks and credit unions.

Martin Baumann's leaving follows last week's resignation of inspections director Helen Munter.

Helen Munter, director of registration and inspections at the Public Company Accounting Oversight Board, plans to leave the PCAOB at the end of May.

The firm improperly altered documents ahead of an inspection.

The survey asks for input on the future direction of the auditing overseer.

The CPA Endowment Fund of Illinois announces its board of directors; Grassi & Co. adds a cybersecurity practice; and more personnel and CPA news.

An appeals panel sided with an auditor who wasn't allowed extra help at his deposition.

The American Institute of CPAs’ Auditing Standards Board has issued an auditing interpretation to help accountants comply with standards from both the AICPA and the Public Company Accounting Oversight Board.

Recent changes to international standards for audit reports have improved the quality of information that’s available to investors, and had a positive impact on wider elements of financial reporting, including governance and corporate reporting, according to a new report from the Association of Chartered Certified Accountants.