Audit

The increased funding for the IRS as a way to boost tax revenue was dropped after it emerged that Democrats intend to include the measure in their bigger budget bill.

Auditors don’t put much emphasis on work-life balance, but the quality of their audits tends to suffer if that balance is absent, according to a recent study.

The Internal Revenue Service ended a strategy for examining high-income taxpayers in 2017 and switched to another strategy that brought in far less tax revenue in the next few years.

With two rounds of implementation behind us, it’s time to reflect on what we’ve learned so far from the required disclosures of critical audit matters.

The Malaysian government is seeking more than $5.6 billion from the auditors over their role in auditing the state investment fund.

Infrastructure fantasies; trouble with the U.S.-Malta Treaty; the future of contactless prep; and other highlights from our favorite tax bloggers.

Compliance audits, the new wrinkles of CTC, marijuana and more were key topics at a recent stakeholders meeting with the service.

The service is gearing up for a potentially massive tax-enforcement push if Congress passes a plan including $40 billion to expand audits on the wealthy.

The Institute of Internal Auditors and AuditBoard added to their Elevate Internal Audit Scholarship Program by providing merit-based scholarships for those studying for Certified Internal Auditor status.

The Public Company Accounting Oversight Board is reassessing its plans to reestablish its outside advisory groups after the latest bout of turmoil at the audit firm regulator.

KPMG U.K. Ltd. faces a 15 million pound ($21 million) fine after it committed “gross misconduct” over a conflict of interest when it advised bed manufacturer Silentnight and the private equity firm that bought it in 2011.

The Securities and Exchange Commission is reportedly probing William Duhnke, the recently fired chair of the Public Company Accounting Oversight Board.

The increasing number of hours devoted to Sarbanes-Oxley compliance, along with the COVID-19 pandemic, have accelerated the need to use technology and automation to cope, according to a new survey.

A failed oil trader in Singapore that owes creditors more than $3.5 billion is suing Deloitte & Touche LLP, alleging the auditing firm failed to detect “serious irregularities” in its financial statements for more than a decade.

The top 10 firms grew their share of the SEC audit market slightly, but the increase didn’t go to the biggest firms.

The institute's Auditing Standards Board amended its standards Tuesday to include guidance in two areas.

Clients anticipate that audit fees will increase in 2021 due to the impact of inflation, COVID-19, acquisitions and divestitures, according to a survey by Gartner.

The SEC abruptly fired William Duhnke as chairman of the Public Company Accounting Oversight Board. As part of the shakeup, PCAOB board member Duane DesParte will become acting chair, but the SEC plans to replace the entire slate of board members.

Almost three-quarters of inspections showing sub-par work, according to the watchdog.

As companies come under increasing pressure to deal with climate change and diversity, their internal auditors are putting more emphasis on making sure environmental, social and governance reports are reliable.