Audit preparation

The Office of Management and Budget is calling for a major overhaul in how federal agencies conduct financial audits.

Technology is driving transformation in audit at an ever-faster pace, says EY's Paul Goodhew.

The Public Company Accounting Oversight Board reported that deficiency rates remain high across examination, review and audit engagements.

The Public Company Accounting Oversight Board sanctioned Heaton & Co. and one of its partners, Kristofer Heaton, for failing to properly document five audits.

Seventy percent of U.S. audit clients are ready to change firms within the next three years, according to an Inflo report.

The Public Company Accounting Oversight Board released a publication to help smaller firms as it comes under threat of being absorbed into the Securities and Exchange Commission.

The Financial Reporting Council found EY "demonstrated a complete lack of professional skepticism" and failed "to be alert to conditions that may have indicated possible fraud."

EY continued to audit NMC Health Plc despite suspicions that management withheld key documents that revealed its true debt position.

The Public Company Accounting Oversight Board staff released a new publication highlighting the perspectives of audit committee chairs.

Audit regulators are increasing their focus on how group auditors identify, engage and supervise component auditors. Is this level of scrutiny necessary?