Audit

The International Federation of Accountants has released a set of recommendations for achieving high-quality audits as regulators around the world push for more thorough audits to avoid accounting scandals.

Financial revisions and restatements are indicators of audit quality, but they are far from the only ones.

A slow quarter for the biggest firms saw lots of small gains for smaller auditors.

The Internal Revenue Service has convinced nearly 80 percent of the taxpayers who received settlement offers after engaging in micro-captive insurance schemes to accept the settlement terms it recently offered them. But there are still thousands of other taxpayers who will be facing examinations.

Auditors need to provide value beyond the compliance function.

Denmark’s business watchdog said it has brought two auditors before a disciplinary board after concluding they violated regulations while reviewing Danske Bank A/S, the lender caught up in Europe’s biggest money laundering scandal.

A bill stuck in Congress might help improve audit oversight.

The Public Company Accounting Oversight Board released a video Monday discussing how to comment on its recent concept release on potentially revising quality control standards for audit firms.

The Big Four firm's Board Leadership Center predicts reinforcing audit quality and setting clear expectations for external auditors will be top of mind in the year ahead.

AppZen has released its enhanced AppZen Platform, using artificial intelligence to automate audits and other financial processes.

Average audit fees increased 4.25 percent from 2017 to 2018, according to a new report.

Wulf Matthias of Wirecard AG resigned after months of controversy over the digital payments company’s accounting practices.

Accounting firms are beginning to wade into the use of blockchain technology for audits, but with caution as the technology spreads beyond the cryptocurrency space where it’s been used for digital assets like Bitcoin.

The proposed changes could have the potential for expanding future enforcement proceedings.

The average U.S. household is paying an annual surtax of more than $3,000 to subsidize taxpayers who aren’t paying all they owe, a new report from the Taxpayer Advocate Service found.

CPAs should be wary of these seven client requests around revenue recognition.

Avoid some of the problems that can come up during an audit by using the wrong words.

The Internal Revenue Service’s announcement last month delaying a requirement for reporting partners’ share of partnership capital offers some extra time to busy tax practitioners, but the issue still isn’t going away and may lead to some other problems.

Technology is less a threat to the audit than a tremendous opportunity, experts say.

The American Institute of CPAs’ Digital Assets Working Group has released a practice aid to offer guidance on how to account for and audit digital assets such as Bitcoin and other forms of cryptocurrency.