Audit

A regulatory probe into PricewaterhouseCoopers LLP related to Tesco Plc’s accounting scandal was dropped as the Financial Reporting Council said there was little chance of an adverse finding in the case.

The right ethical structure in the workplace is critical to deterring fraud, according to James Ratley of the Association of Certified Fraud Examiners.

The Public Company Accounting Oversight Board has issued a pair of new proposals: to strengthen its requirements for an auditor’s use of the work of specialists, and for auditing accounting estimates such as fair value measurements.

The new model includes discussion of 'critical audit matters,' the length of the auditor's tenure, and new standardized language and formatting.

The Institute and their Assurance Research Advisory Group (ARAG) will provide up to $15K of funding to winners.

The Center for Audit Quality's program has now funded over $600K in projects.

Audit firms in particular have the core strengths needed to help companies evaluate their security risk.

NICE Actimize has introduced anti-bribery and corruption software that monitors organizations’ financial systems looking for signs of criminal schemes.

BKD LLP has added Paragon Audit & Consulting, building the firm’s internal audit and enterprise risk management practices in Denver.

The Public Company Accounting Oversight Board is planning to hold an open meeting next Thursday, June 1, to consider adopting a long-discussed set of changes to the auditor’s reporting model.

The American Institute of CPAs’ Auditing Standards Board has released a new interpretation for practitioners performing attestations using more than one set of standards.

A virtual roundtable of experts looks at how technology and other trends are reshaping a core service of the accounting profession.

The Big Four firm topped all auditing firms in new engagements.

May is Internal Audit Awareness Month. On the off chance that didn’t make it onto your calendar, I’d like to make the case that rethinking internal audit’s potential is time well spent.

The demise of the New York charity offers lessons for other NFP organizations, their advisors and their auditors.

The Center for Audit Quality and the American Accounting Association’s Auditing Section have picked three new academic research projects to support by giving researchers access to audit practitioners.

PricewaterhouseCoopers’ firm in the United Kingdom was fined a record £5 million ($6.4 million) by the U.K.’s Financial Reporting Council for its audits of Connaught, a social housing maintenance business that collapsed in 2010.

The Association of Chartered Certified Accountants has released a new report calling for more professional skepticism on the part of auditors.

The Institute of Internal Auditors has published a new guide to help auditors deal with the challenges of “big data,” the huge volumes of structured and unstructured information that’s being generated at a fast pace by today’s systems.

The Public Company Accounting Oversight Board is seeing signs of progress on audit quality in its inspections.