Audit standards

The Audit Reform Lab published a report analyzing Britain's audit industry after high-profile corporate collapses and criticism.

The American Institute of CPAs' Auditing Standards Board voted to approve a set of revisions to the rules for attestation engagements to align them with the AICPA's quality management standards.

The Public Company Accounting Oversight Board updated its standard-setting, research and rulemaking agendas to reflect recent progress on modernizing the its older standards and rules.

The Public Company Accounting Oversight Board approved two new standards, on systems of quality control and the general responsibilities of the auditor.

The Securities and Exchange Commission hit the fast-rising auditing firm with $14 million in fines, and charged it with deliberate, systemic failures to comply with PCAOB standards.

Seventeen percent of comment forms in 2021 and 2022 contained auditor evaluation deficiencies, according to the PCAOB.

The Public Company Accounting Oversight Board plans to host a series of five in-person forums this year, with different members of the board visiting cities including Chicago, Los Angeles, Denver, Miami, and Jersey City.

The Public Company Accounting Oversight Board voted to propose an extensive set of new reporting requirements to impose on auditing firms.

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.