Audit preparation

Knowing which answers to hand back to a human is what keeps an audit defensible.

The profession's skepticism toward artificial intelligence may produce an unexpected benefit: a higher standard of transparency across the audit process.

Ernst & Young released its 2026 U.S. audit quality report, showing the biggest improvement ever in its annual PCAOB inspection findings.

The efforts of internal auditors are increasingly focusing on digital disruptions, especially from artificial intelligence, as well as geopolitical uncertainty.

The Public Company Accounting Oversight Board voted to adopt amendments that ease the requirements of its QC 1000 quality control standard for auditing firms.

Caseware announced upgrades that allow users to bring its AI agents into Microsoft Excel, along with an AI-first evolution of its Client Requests feature.

A proposed NYSE rule change would let newly listed companies wait five years before establishing an internal audit function.

And the Big Four continue to claim the majority of audit fees.

The Public Company Accounting Oversight Board released its annual inspection reports for the largest six audit firms, indicating better results.

Fieldguide added new financial audit capacities to handle drafting, reviews and disclosures plus a way to connect with other AI models directly.

Meanwhile, KPMG and Grant Thornton led in terms of new engagements among the largest audit firms.

The Public Company Accounting Oversight Board today established a firm consultation process to help provide firms with more timely and consistent guidance.

Deficiency rates in audits of broker-dealers declined in 2025, according to the Public Company Accounting Oversight Board — particularly for auditors that perform a large number of engagements.

The Financial Reporting Council is probing accountancy firms linked to Market Financial Solutions Ltd., a mortgage lender backed by multiple Wall Street banks.

The Public Company Accounting Oversight Board is forming a new advisory body called the Inspections Modernization Council — and it is looking for experts to apply.

Big Four firm KPMG signed 17 new SEC audit engagements, followed closely by Deloitte, CBIZ and Carr Riggs & Ingram.

In its 2025 annual report, the PCAOB found that 60% of registered firms did not perform issuer, broker-dealer or substantial-role audits.

The International Forum of Independent Audit Regulators released a report summarizing its annual survey of inspection findings from audit regulators around the world.

Ideagen Audit Analytics' annual report on the audit landscape shows the market share landscape remaining much the same.

Canada's top securities regulator alleged that KPMG failed to properly value the loans held within funds, harming investors.