Audit

PCAOB aligns auditor independence rules with SEC

The enforcement push comes after years of persistently low examination rates.

The press helps keep firms honest, according to a new academic paper.

At issue is China's refusal to let inspectors from the PCAOB review audits of some Chinese businesses.

But the IRS would need more resources, writes Natasha Sarin, an assistant professor of law at UPenn.

Practitioners share their expectations around the potential for more action from tax authorities.

The service is working to identify 9 million individuals who haven't filed a return.

The board has been making changes to its strategic plans and agenda in response to the pandemic as it sees auditors doing more work remotely.

As firms begin preparing for the busy season, what have we learned about hiring, training and working in a pandemic, and how can we prepare for the new normal?

Internal auditors are facing risks during the COVID-19 pandemic in business continuity, crisis management, cybersecurity and other areas, according to a new report.

Investor awareness of critical audit matters is “still developing,” though, according to the PCAOB's interim analysis.

Auditors can help companies improve the reliability of their cybersecurity disclosures, according to a new report from the Center for Audit Quality.

The Internal Revenue Service is offering less generous settlement terms to participants in micro-captive insurance schemes as part of its clampdown on the transactions.

The Internal Revenue Service released an early draft of the instructions with revised directions for how partnerships should report capital accounts and tax basis capital for partners on Schedule K-1.

Boohoo Group Plc, the scandal-hit fast-fashion retailer, may struggle to line up a top-flight audit firm after parting ways with PricewaterhouseCoopers.

The institute is asking the U.S. government to help authorities in Liberia investigate the recent deaths of four government auditors who were looking into possible misappropriation of funds.

Boohoo Group Plc shares fell the most since August after the U.K. fast-fashion retailer caught up in a labor scandal said it’s seeking a new auditor to replace PricewaterhouseCoopers.

The Securities and Exchange Commission voted to adopt amendments to its longstanding auditor independence requirements, relaxing restrictions on relationships between auditors and their clients as part of a deregulatory push by the SEC in recent years.

Auditors should take stock of the lessons learned from the first phase of remote auditing.

James Kaiser, a member of the Public Company Accounting Oversight Board since 2018, is leaving the PCAOB and will be replaced by chief auditor Megan Zietsman in another sign of turmoil at the audit overseer.