SEC

The Public Company Accounting Oversight Board is regrouping with a slate of new board members recently appointed by the Securities and Exchange Commission, and it approved its fiscal year 2022 budget during a rare open meeting on Tuesday.

The Securities and Exchange Commission has appointed longtime SEC official Erica Y. Williams as the new chair of the Public Company Accounting Oversight Board, and named three new members.

The commission approved a rule to ensure the Public Company Accounting Oversight Board can inspect firms in other countries, especially China.

The Financial Accounting Standards Board proposed an accounting standards update Monday that would modify the disclosure requirements for interim financial reporting.

The top executives of a defunct cybersecurity company were charged with duping investors.

The foundation is mulling changes in how it uses the term “materiality” to avoid legal and regulatory conflicts for companies disclosing their sustainability efforts.

The Big Four firm is broadening its array of services to help clients deal with growing demands for sustainability and climate risk reporting and assurance.

U.S. regulators have long said they’re dubious about the green and socially conscious labels that Wall Street applies to $35 trillion in so-called sustainable assets. Now, the watchdogs are hunting for proof that they’re right.

The company settled claims that it engaged in an expense-management scheme that resulted in inflated earnings.

Two members of the Public Company Accounting Oversight Board, Rebekah Goshorn Jurata and Megan Zietsman, jointly announced Monday they plan to resign by Oct. 1, or earlier if new board members are named.

In a slow quarter for new engagements, EY and Gries & Associates also made good showings.

The congressional group took the unusual step of backing a candidate, law firm partner Erica Williams, to head the audit overseer.

The Securities and Exchange Commission charged Ernst & Young, one of its current partners, and two of the firm’s former partners Monday with violating auditor independence rules and improper professional conduct.

A warning from the commission has prompted hundreds of special purpose acquisition companies to issue financial restatements.

A federal judge in San Francisco ruled in favor of PricewaterhouseCoopers in a case involving a former employee who sued PwC for firing him after he complained about conflicts of interest among audit clients.

Despite enhancements already made to audit quality, the audit profession will never rest on its laurels.

Ripple has said the SEC can’t regulate XRP because, as a virtual currency used in international and domestic transactions, it’s a medium of exchange and not a security.

The Securities and Exchange Commission is ramping up enforcement against cryptocurrency providers, as the Internal Revenue Service has also stepped up investigations and compliance efforts.

KPMG has been increasing its efforts to provide environmental, social and governance services to clients through a new initiative called KPMG Impact.

The commission wants corporations to reveal more about climate risks, a push Wall Street and the biggest tech companies say will lead to a barrage of lawsuits.