Audit standards

Officials and employees are working from home and doing inspections of U.S. audit firms remotely to protect them from infection.

The American Institute of CPAs updated its auditor reporting standards to conform them with recently issued auditing standards.

The White House’s latest budget blueprint proposes consolidating the functions and responsibilities of the Public Company Accounting Oversight Board into the Securities and Exchange Commission starting in 2022.

The Accounting and Review Services Committee has issued a new standard as part of an effort to align its standards with both international standards and generally accepted auditing 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.