Audit

The U.K. accounting watchdog is ramping up misconduct fines after being called useless and toothless by lawmakers irate at the failure of the accounting industry to prevent several high-profile corporate collapses.

The Financial Reporting Council's assessment is fueling calls to reform the industry, including dismantling the “Big Four” players.

The AICPA chief calls for the profession to get ahead of change by building new visions of itself.

Based on a flawed 1998 study, the war on spreadsheets continues unabated.

The integration allows auditors to automate and track bank confirmations for any of their engagements.

It’s said auditors get off lightly when companies fail. Tell that to the PricewaterhouseCoopers partner who signed off on the accounts of failed British retailer BHS. He has just received a 325,000-pound ($434,000) fine and a record 15-year ban from audit work.

The City of Brotherly Love ranked at the bottom of the top 10 biggest U.S. cities.

The Committee of Sponsoring Organizations of the Treadway Commission has added to its widely used Enterprise Risk Management Framework.

The Middle Eastern investment firm has been roiled by allegations of misused funds.

An amendment to the AICPA Code of Conduct requires CPAs to re-examine the nonattest services they offer.

The Center for Audit Quality is supporting research into professional skepticism, critical audit matters, and more.

The American Institute of CPAs is offering to provide up to $15,000 to researchers.

KPMG LLP’s South African unit sees 400 people leaving the embattled company as it closes some regional offices and focuses its operations on four cities across the country.

The shakeup at the Public Company Accounting Oversight Board continued with the announcement Tuesday that Claudius Modesti, director of the PCAOB’s Division of Enforcement and Investigations, will be leaving at the end of the month.

The European Union’s General Data Protection Regulation takes effect Friday, and it could affect accountants and auditors, along with their clients, in the U.S.

Samsonite International SA, the world’s largest branded-luggage maker, tumbled the most since 2012 after short-seller Blue Orca Capital questioned the company’s accounting and corporate governance.

The Public Company Accounting Oversight Board censured Deloitte & Touche LLP and imposed a $500,000 penalty against the Big Four firm for overlooking material accounting errors during three consecutive audits of Jack Henry & Associates, Inc., a Missouri-based IT provider for banks and credit unions.

KPMG LLP is conducting an internal review into its audits of embattled Middle East buyout firm Abraaj Group following the alleged misuse of money, according to people with knowledge of the matter.

The American Institute of CPAs has issued a new standard to provide guidance for CPAs performing compilations and reviews to address international reporting issues.

Even as their job gets easier, the largest auditors impose greater charges the longer they’re auditing a company, according to a new academic study.