Audit standards

Financial revisions and restatements are indicators of audit quality, but they are far from the only ones.

The International Ethics Standards Board for Accountants released an exposure draft Thursday proposing changes to the International Code of Ethics for Professional Accountants to provide additional guidance to audit engagement quality reviewers about their professional objectivity.

Denmark’s business watchdog said it has brought two auditors before a disciplinary board after concluding they violated regulations while reviewing Danske Bank A/S, the lender caught up in Europe’s biggest money laundering scandal.

A bill stuck in Congress might help improve audit oversight.

The Public Company Accounting Oversight Board released a video Monday discussing how to comment on its recent concept release on potentially revising quality control standards for audit firms.

The Big Four firm's Board Leadership Center predicts reinforcing audit quality and setting clear expectations for external auditors will be top of mind in the year ahead.

The International Ethics Standards Board for Accountants has released two exposure drafts for proposed ethical standards aimed at strengthening the non-assurance services and fee-related independence provisions of the International Code of Ethics for Professional Accountants.

The proposed changes could have the potential for expanding future enforcement proceedings.

The International Ethics Standards Board for Accountants has released a set of revisions to the International Code of Ethics for Professional Accountants, making some changes in the independence standards for assurance engagements, other than audit and review engagements.

The Securities and Exchange Commission is proposing a set of amendments to the auditor independence rules that have been in place since the early 2000s, allowing firms more leeway in determining conflicts of interest and shortening the lookback period for clients planning to go public.