Audit standards

The board continues its aggressive approach to oversight, announcing several hundreds of thousands of dollars in penalties on several auditors in a single week.

The head of the board views the recently proposed standard for sustainability reporting assurance as a way to make those reports more verifiable.

Several prominent trade groups are objecting to the board's proposed changes in auditing standards related to noncompliance with laws and regulations.

The board is looking for nominations for new members of its Investor Advisory Group and its Standards and Emerging Issues Advisory Group.

The disclosures that companies make about their green credentials will be evaluated by new global audit standards that are expected to be finalized by the end of next year.

The Center for Audit Quality is working to convince the board to water down a proposed update telling auditors to be on the lookout for fraud and other signs of noncompliance.

The International Auditing and Assurance Standards Board proposed new rules for providing outside assurance on a company's sustainability reporting efforts.

The board disciplined five auditing firms for violating its rules and standards when communicating with audit committees.

The more KAMs disclosed in an audit report, the higher the distress level of a company, according to a new study

U.S. audit officials have started a fresh round of inspections of New York-listed Chinese companies in recent weeks as tensions mount between the world's two largest economies.

The International Federation of Accountants released the second installment of its advice for implementing the IAASB's updated standards.

The board wants to address the greater use of technology by auditors, especially when it comes to analyzing information in electronic format.

The commission charged the firm with systemic quality control failures and violations of audit standards, mainly in connection with its audits of SPAC clients.

The proposal would toughen the requirements for the auditor's responsibility to consider a company's noncompliance with laws and regulations, including fraud. 

The board is adding two new projects planned for short-term action, along with four new projects aimed at improving its rules to protect investors.

Both audits and independent boards are basic standards that any investor would expect a company to have in place, particularly if that firm is of a certain size and working in a financial sector.

Isn't it reasonable to expect that state governments' financial reporting have full accountability and thus, receive clean audit reports? Often, they do not.

The changes aim to increase transparency and provide more information to investors and other stakeholders. 

The board proposed revisions to its current going concern standard with the goal of improving transparency and consistent practices.

A new report reminds auditors of the need to critically assess their own firm's capabilities and get a better understanding of the company they're auditing.