Audit standards

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.

The board increased its enforcement activity significantly in 2022 and levied record-setting penalties.

The IIA's president and CEO sees the proposed confirmation standard as an 'unnecessary swipe' at internal auditors.

The institute has released a guide to help auditors deal with a new standard on assessing the risks of a material misstatement.

The Institute of Internal Auditors is pushing back against part of a proposed new standard on audit confirmations from the Public Company Accounting Oversight Board.

The International Auditing and Assurance Standards Board is asking for feedback on a new section of a proposed auditing standard that would cover group audits of less complex entities.

Plus, the Institute of Internal Auditors expressed serious concerns about a recent board proposal on audit confirmations.

The new standard for audit confirmations would replace an interim standard that hasn't changed for two decades.

As PCAOB inspections in China move forward, U.S. auditors should use caution in engagements with Chinese-based companies.

Auditing firms have been relying increasingly on outside specialists for audit engagements since the Public Company Accounting Oversight Board unveiled a new standard governing their use.

The average number of critical audit matters per audit report has declined over time, while the proportion of audit reports that communicate only a single CAM has increased.

The board levied sanctions and fines totaling $7.7 million against three of KPMG's member firms in the U.K., India and Colombia.

The Institute of Internal Auditors sent a letter to lawmakers urging them to set new requirements for crypto exchanges in the U.S.