Audit

Increases in audit fees for public companies and nonprofits slowed down in 2016, according to a new report, although private companies saw an uptick in their fee increases during the 2016 audit season.

Audit committees at public companies will have plenty on their agendas this year, according to a pair of new reports from KPMG, including new accounting standards, the new tax law, cyber security and more.

There’s less threat and more opportunity in emerging technologies than many think.

Auditing fees kept up their steady pace of increase over the past six years, according to a new report, climbing from $7.6 billion in 2010 to $9.2 billion in 2016.

Leveraging the opportunities in technological change requires collaboration and coordination.

Auditing firms cannot be expected to root out evil, or to conduct full forensic investigations.

The Public Company Accounting Oversight Board swore in its new chairman William D. Duhnke III on Tuesday, along with a new board member, Kathleen M. Hamm, at the headquarters of the Securities and Exchange Commission.

A federal judge ruled PricewaterhouseCoopers was negligent in its audits of Colonial Bank, which failed in 2009 in the midst of the financial crisis, potentially exposing PwC to heavy damages.

The board’s staff are offering additional information on determining auditor tenure.

The Internal Revenue Service has proposed guidance on the new partnership audit regime that promises to make it easier for firms, if not all their partners, but with some extra complications added by the new tax reform law.

The Public Company Accounting Oversight Board said Wednesday it has imposed a $1.5 million civil penalty against Grant Thornton LLP and censure the firm for violations of quality control standards and for audit failures.

The International Federation of Accountants is expressing alarm about recent proposals from a group of global financial regulators to separate its standard-setting boards for auditing and ethics.

KPMG International reported Thursday its worldwide revenue grew 5 percent in local currency terms to a record level of $26.4 billion the fiscal year ending Sept. 30, 2017.

The American Institute of CPAs has released a new guide to data analytics to familiarize CPAs with the technology.

The Securities and Exchange Commission has appointed William Duhnke to succeed James Doty at the Public Company Accounting Oversight Board.

KPMG has resigned as Liberty Tax’s independent accounting firm amid the continuing fallout over Liberty founder John Hewitt.

The cloud-based OnPoint software will help firms with preparation, compilation and review engagements.

The Securities and Exchange Commission has charged the auditing firm Anton & Chia and several of its officials with fraud, accusing the Newport Beach, Calif.-based firm of conducting flawed audits and reviews of financial statements while violating securities laws.

The Public Company Accounting Oversight Board has released staff guidance on the new audit reporting standard and is hosting webinars to help auditors with preparing the new reports.

The American Institute of CPAs’ Auditing Standards Board has released three exposure drafts proposing ways to improve the usefulness of the auditor’s report, in response to recent standards from the Public Company Accounting Oversight Board and the International Auditing and Assurance Standards Board.