Audit

The Internal Revenue Service tends to impose relatively few accuracy-related penalties during audits of large businesses, according to a new report.

The former COO of the IFRS will be chairing the International Auditing and Assurance Standards Board after the previous choice abruptly backed away from taking the post.

A U.S. bill that proposes to delist Chinese firms that don’t open their audit books to American regulators could benefit Hong Kong Exchanges & Clearing Ltd. as companies instead turn to the city’s bourse.

With states hungry for revenue, these risk factors may draw unwanted attention to your clients.

Auditors and people; whistleblowers’ comfort; Wayfair developments; and other highlights from our favorite tax bloggers.

The Public Company Accounting Oversight Board has published guidance from its staff on how auditors can communicate critical audit matters in their audit reports.

The Center for Audit Quality announced the five grant recipients for independent academic research on audit-related topics.

The firm said the fine should be just a fraction of that size, at 1.4 million pounds.

The Big Four firm announced that University of Kentucky professor Jeff Payne will be the fourth academic to oversee audit education and research.

U.S. corporations are contributing the smallest share of federal tax revenue in a generation.

The chances of an IRS audit for people making at least $10 million a year plunged during the government’s last fiscal year, according to data released on Monday.

The Internal Revenue Service’s audit rate went down again in 2018, according to data released Monday by the IRS.

Auditing quality seems to be improving somewhat internationally, although there’s still a lack of consistency, according to a new report.

It's time to treat environmental, social and governance metrics with the same rigor as financial metrics.

About $18.4 billion in bad payments were made on the refundable credit in 2018.

Robotic process automation is playing a larger role at companies, including in the accounting and finance area, but many executives feel more needs to be done, according to a new report.

The Securities and Exchange Commission is proposing to limit the requirements under the Sarbanes-Oxley Act for audits of internal controls over financial reporting, making them apply to only the largest public companies.

The SEC proposed to free small companies from a Sarbanes-Oxley Act requirement that an auditor sign-off on their internal controls over financial reporting.

The United Kingdom’s Financial Reporting Council has fined KPMG’s U.K. firm £5 million (discounted through a settlement to £4 million, or about $5.2 million) for its fiscal year 2009 audits of the Co-operative Bank.

Companies that shop around among auditing firms for clean opinions on their financial statements can compromise the objectivity of outside auditors, according to new research.