Audit

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.

The Securities and Exchange Commission is proposing a set of amendments to the auditor independence rules that have been in place since the early 2000s, allowing firms more leeway in determining conflicts of interest and shortening the lookback period for clients planning to go public.

The International Accounting and Assurance Standards Board has released a revised standard for identifying and assessing the risks of material misstatements.

Business leaders will be contending with ongoing economic uncertainty and unknown future regulatory changes, along with accounting and tax changes, that could have an impact on their ability to effectively compete and achieve their financial targets in 2020 and beyond, according to a recent report.

The Public Company Accounting Oversight Board has released a document providing information from its conversations with nearly 400 chairs of audit committees.

The Public Company Accounting Oversight Board has issued a concept release proposing a new approach to changing its quality control standards, the biggest change since 2003.

Erik Asgeirsson describes the new audit tools and many other developments coming out of CPA.com and the American Institute of CPAs.

The $284.7 million budget is an approximately 4 percent increase over 2019.