Audit

The Internal Revenue Service is expected to lean more heavily on artificial intelligence technology to select cases as it carries out widespread layoffs.

The far-reaching legislation would transfer the responsibilities of the Public Company Accounting Oversight Board to the Securities and Exchange Commission.

The Public Company Accounting Oversight Board released a publication to help smaller firms as it comes under threat of being absorbed into the Securities and Exchange Commission.

IT auditors who know a lot about AI can now show it through a new certification, as the ISACA now offers an AAIA, or "Advanced in AI Audit," credential.

The latest data on new SEC audit client engagements for 2024 and the number of accounting-related securities class actions.

Accountants can turn the audit playbook into an AI assurance framework that policymakers have been groping for.

The Financial Reporting Council found EY "demonstrated a complete lack of professional skepticism" and failed "to be alert to conditions that may have indicated possible fraud."

EY continued to audit NMC Health Plc despite suspicions that management withheld key documents that revealed its true debt position.

Plus, OneStream announces new AI agents, other solutions; Suralink rolls out request-to-test solution; and other accounting tech news and updates.

The International Auditing and Assurance Standards Board released information on its new standard, while the International Public Sector Accounting Standards Board has an exposure draft on materiality.