Audit standards

The PCAOB will be able to address situations in which a registered firm has ceased to exist, is nonoperational, or no longer wishes to remain registered.

In a comment letter, the institute says the board's new requirements could drive smaller auditing firms out of the market.

The average audit fee increased to $3.01 million in 2023, up from $2.83 million in the previous cycle, according to a new report.

Auditing firms appear to be making headway on fixing some of the problems identified by the Public Company Accounting Oversight Board.

Knowing how to distinguish between what is required by standards and what is opinion is crucial for auditors to confidently navigate these reviews and inspections.

The Public Company Accounting Oversight Board is also offering insights on improving audit committee communications and a video on the new confirmation standard.

The Public Company Accounting Oversight Board introduced two pieces of guidance to help auditing firms apply its new quality control standard.

The American Institute of CPAs is still concerned about the Public Company Accounting Oversight Board's new firm and engagement metrics standard, despite some modifications from the original proposal.

The Public Company Accounting Oversight Board voted to adopt new requirements to report on various metrics for the firm and its engagements.

The U.S. Defense Department failed for the seventh straight year to score a clean financial audit, highlighting the challenge of tracking the finances of a sprawling organization that has some $3.8 trillion in assets and $4 trillion in liabilities.

Facing a backlash about its proposal to toughen standards for failing to detect noncompliance with laws and regulations, the board is putting off action on the standard.

The rule change addresses situations in which a firm has ceased to exist, is nonoperational or no longer wishes to remain registered.

Board members face the likelihood of a deregulatory emphasis under the incoming Trump administration and probable changes in board composition.

The Public Company Accounting Oversight Board issued a staff publication amid controversy over its proposed NOCLAR standard.

Anthony Pugliese, president and CEO of the Institute of Internal Auditors, is traveling the world as his organization expands globally.

The International Auditing and Assurance Standards Board is preparing for the adoption of its International Standard on Sustainability Assurance 5000 early next year.

The Public Company Accounting Oversight Board staff updated its short- and mid-term standard-setting agenda as well as its rulemaking agenda.

Erica Williams, who began her first term in January 2022, will now helm the Public Company Accounting Oversight Board through Oct. 24, 2029.

The Public Company Accounting Oversight Board posted a practice aid, comparison document and webinar related to the implementation of QC 1000.

Companies often face the tricky task of producing privileged and confidential information to their independent auditors for audit purposes.