Audit preparation

The Public Company Accounting Oversight Board released a report Friday calling attention to high deficiencies among auditors of brokers and dealers.

Accounting and financial firms and business groups are sending comment letters to the Securities and Exchange Commission ahead of a deadline Friday for approving a new standard from the Public Company Accounting Oversight Board on expanding the scope of audit reports.

The Big Four firm topped large and small firms in new SEC engagements.

The Public Company Accounting Oversight Board is disciplining Crowe Horwath’s member firm in Hong Kong for refusing to turn over audit work papers.

The American Institute of CPAs has released a new standard that provides guidance to auditors about their responsibilities when auditing securities exempt from registration under the Securities Act of 1933 and franchise offerings known as exempt offerings.

Auditing firms will be required to disclose the names of other firms that participated in an audit, starting Friday.