Audit standards

Friction simmers within the audit industry following the Public Company Accounting Oversight Board's controversial June 2023 proposal to revise its standard on noncompliance with laws and regulations.

The Public Company Accounting Oversight Board sanctioned PricewaterhouseCoopers' member firms in the U.S. and Australia over auditing quality control violations, imposing a $2.75 million and $600,000 penalty.

PICPA believes the PCAOB's Non-Compliance with Laws and Regulations proposal is disconnected from the realities of the auditing profession and will impose undue strain on an already thinly stretched workforce of CPAs.

This new standard changes the game for auditors to make risk assessments even more effective.

The internal audit function is gaining more people and funding, according to a new survey released Monday.

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

Despite suggestions to the contrary, audits remain valuable and serve a grander purpose.

The Public Company Accounting Oversight Board is proposing a new rule to prevent auditing firms from making false or misleading statements about being registered or overseen by the PCAOB.

The Public Company Accounting Oversight Board levied a $2 million fine against WithumSmith+Brown for violating quality control rules.

The Public Company Accounting Oversight Board levied sanctions and penalties against four auditing firms as part of a sweep.