Audit

Ernst & Young issued an audit quality report describing the steps that the Big Four firm is taking to increase auditing quality control.

Average audit fees continued to grow in recent years, increasing nearly 4% from 2019 to 2020 from $2.43 million to $2.52 million, according to a new survey.

The board released its 2020 inspection reports Monday for Deloitte, Ernst & Young, KPMG and PwC, showing mixed results.

Midsized businesses spend 163 hours per month on sales tax compliance, typically costing more than $17,000, according to a new survey.

Deloitte & Touche announced a strategic alliance with audit technology provider AuditBoard in conjunction with AuditBoard’s user conference this week in Los Angeles.

Deficiencies remained high in 2020, according to a new report from the board.

The COVID-19 pandemic has complicated life for Sarbanes-Oxley compliance teams, forcing accountants and auditors to work remotely.

Companies can expect to face seven key pressure points. Here are some considerations to successfully navigate each hurdle.

Technological changes are already making an impact on how auditing firms are carrying out their audits.

The institute released a new standard to help auditors assess the risks of material misstatement.

The Internal Revenue Service’s Tax Exempt and Government Entities division is making plans for next fiscal year in hopes that Congress will provide more funding.

The board staff issued guidance on some of the considerations auditors should have about the relevance and reliability of information they get from external sources and plan to use as audit evidence.

The struggling U.K. fashion retailer has failed to keep pace on price with its high-street rivals and has been closing stores.

Cherry Bekaert, MNP LLP, Moore Kingston Smith, and Plante Moran each won an award for their distinct use of MindBridge's technology.

The board has issued a supplemental call on its proposals surrounding lead auditors’ responsibilities.

The U.K.’s accounting watchdog has imposed sanctions against Grant Thornton Ltd., and a partner at the business, for its role in the alleged accounting fraud at the Patisserie Valerie bakery chain.

A new deal would up the thresholds of what triggers reporting to the IRS, according to a key House Democrat.

The framework will govern how the board determines if it can’t inspect or investigate a foreign accounting firm.

The committee has teamed up with Deloitte on a new guide to help organizations combine their risk management efforts with their artificial intelligence initiatives.