Audit preparation

The Institute of Internal Auditors released the first in a series of topical requirements planned for this year, starting with cybersecurity.

The Public Company Accounting Oversight Board cautioned about relying on the work of specialists who help with fair value measurements and accounting estimates.

The small Tampa auditor picked up a big tranche of engagements from another auditor that exited the field.

RSM formed an advisory body composed of three independent board members responsible for evaluating quality control and quality management within the firm's assurance practice.

The Public Company Accounting Oversight Board released a staff publication highlighting problems it's seeing with audits of journal entries.

Companies that work with auditors who have more industry experience but charge more than competitors offering "lowball" fees tend to save more money in the end.

The average audit fee increased to $3.01 million in 2023, up from $2.83 million in the previous cycle, according to a new report.

Auditing firms appear to be making headway on fixing some of the problems identified by the Public Company Accounting Oversight Board.

The Public Company Accounting Oversight Board will continue its inspection focus on public companies in the financial, real estate and information technology sectors.

The Public Company Accounting Oversight Board is also offering insights on improving audit committee communications and a video on the new confirmation standard.