Audit standards

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.

IOSCO is encouraging the development of a more global assurance framework for sustainability-related corporate reporting.

The Public Company Accounting Oversight Board voted to update a group of old interim standards it inherited from the AICPA in 2003.

The boards are moving to a new oversight body called the International Foundation for Ethics and Audit.

The board warned investors to exercise caution when it comes to the so-called "proof of reserve" reports that some cryptocurrency companies have been touting.

The Big Four firm was hit with a $6.6 million fine by the U.K.'s audit watchdog over serious failures for its work on Babcock International Group's books in 2017 and 2018.

The institute released for public comment a draft of the proposed changes it wants to make to its International Professional Practices Framework.

The International Ethics Standards Board for Accountants released a final set of revisions to its standards for conducting group audits, strengthening and clarifying the independence requirements.

The Institute of Internal Auditors will soon be unveiling extensive changes in its standards, including a name change.