Audit standards

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.

Auditing firms can expect enhanced inspections, strengthened enforcement and higher penalties, says Public Company Accounting Oversight Board Chair Erica Williams.

The Public Company Accounting Oversight Board proposed significant changes in the requirements for firms' QC systems, modernizing standards in place for decades.

A recent study found that when municipal governments are assigned a random auditor, versus one they appoint themselves, financial performance improves.

Officials from the two boards discussed their work on upcoming auditing and accounting standards as they adjust to changing agendas and expectations.

Many companies have benefited from federal government relief programs and will be subjected to single audits for the first time.

The International Auditing and Assurance Standards Board is looking for feedback on updating one of its fundamental standards.

The Public Company Accounting Oversight Board has named Barbara Vanich as its chief auditor after she served as acting chief auditor for nearly two years.

The Public Company Accounting Oversight Board has again rejiggered its standard-setting and research agendas, adding three new projects.