Audit

The United Kingdom’s Competition and Markets Authority has issued a long-awaited report calling for separation of audit from consulting services, mandatory “joint audits” and regulatory powers to increase the accountability of audit committees.

South Korean auditors are refusing to sign off on more and more corporate financial statements due to tighter regulations, giving investors earlier warning signs of trouble ahead.

An adviser to union pension funds is calling on General Electric to change audit firms after investor confidence in the one-time blue-chip company has been rattled.

Denmark has reported the local operations of Ernst & Young and KPMG to the police amid a widening crackdown on money laundering in the country.

Financial statement auditors can teach security experts a few valuable lessons.

There is a revolution underway in major accounting firms, at least for the ones who take up the challenge to meet the shifts occurring beneath their feet.

The agency managed to open filing season on time despite the recent government shutdown and saw a big opening day.

Lawmakers are complaining about the agency’s disproportionate number of audits of low-income taxpayers who claim the Earned Income Tax Credit.

They’re rare, but terrifying, so it’s worth bearing these points in mind during a tax exam.

The former Citigroup executive Julie Bell Lindsay is succeeding Cindy Fornelli, who is retiring.

The Institute of Internal Auditors wants organizations to pay more attention to fraud control and decide on the role that internal audit will play.

Steinhoff International Holdings NV pushed back the dates for the publication of audited earnings for 2017 and 2018 after the findings of a forensic probe by PwC made the process more time consuming and complex.

Even if House Democrats get their hands on Donald Trump’s tax returns, many of their biggest questions about the president’s finances will probably go unanswered.

The Center for Audit Quality has released an updated version of its tool for audit committees to address recent changes in accounting standards and potential areas of risk.

Firms should be forced to legally separate their “cash cow” consulting work from their auditing businesses, a U.K. Parliament committee said.

When you don’t have real-time reporting on firm management metrics, utilization can be tricky to gauge.

Prosecutors recorded a phone call in which William Singer said his charity was being audited and the parents should tell the IRS their contributions were for needy children.

The Internal Revenue Service needs to do a better job of managing its employees in the wake of budget cuts that have forced the IRS to severely reduce tax audits, or else it could be putting its mission at risk, according to a new report from the Government Accountability Office.

The institute also released guidance on auditing prior-period financial statements.

These red flags always draw the IRS’s attention.