PCAOB

The Public Company Accounting Oversight Board has released a document providing information from its conversations with nearly 400 chairs of audit committees.

The Public Company Accounting Oversight Board has issued a concept release proposing a new approach to changing its quality control standards, the biggest change since 2003.

The $284.7 million budget is an approximately 4 percent increase over 2019.

The audit overseer also named a new general counsel.

The Public Company Accounting Oversight Board is planning to issue a concept release on revisions in quality control standards while making extensive changes in its inspections and audit reports.

Chairman William Duhnke said the board is also doing more outreach to audit committees.

The Public Company Accounting Oversight Board could be making more changes ahead as the audit firm regulator deals with a tumultuous series of transformations in the past two years.

Accounting giant PwC’s work for Mattel Inc. is being reviewed by the top U.S. audit watchdog after the toymaker said it would restate some previous financial results because of a bookkeeping error, according to a person familiar with the matter.

Three senators have reintroduced a bill that would exempt small broker-dealers from the expanded audit requirements of the Dodd-Frank Act of 2010 and reinstate looser auditing requirements.

The board has brought in Holly Greaves, a former CFO at the EPA, as its new CFO, but not publicly announced the move.

CAMs are upon us, and the early results are in!

The Securities and Exchange Commission has named Rebekah Goshorn Jurata, a special assistant to the president for financial policy on the White House’s National Economic Council.

Rising tensions between Washington and Beijing have prompted some White House officials to fixate on a provocative question with big implications for global markets: Why can Chinese companies sell shares in the U.S. when American regulators are barred from inspecting their books?

The legislation would create a whistleblower program similar to the one at the SEC, offering protection to accountants and auditors, and others who know of accounting fraud.

A rule requiring audit firms to disclose the names of engagement partners who participated in an audit may not be having much of an impact on audit quality.

The initial batch of audit reports for large accelerated filers describing critical audit matters don’t necessarily provide a whole lot of illuminating information.

A former KPMG partner was sentenced for his role in eliciting confidential information from the U.S. audit regulator to boost the firm’s annual inspection results.

Marcum and Marcum Bernstein & Pinchuk plugged some of their clients at investor conferences in violation of auditor independence requirements.

Pilot tests at public companies suggest the new reporting requirements may take more time than expected.

Amendments are being added to three sets of standards for special-purpose, single and summary financial statements.