Audit

FIFA has chosen PricewaterhouseCoopers’ Swiss firm as its new auditing firm as the international soccer federation tries to recover from a high-profile corruption scandal.

Ernst & Young agreed to pay $9.3 million to settle charges with the Securities and Exchange Commission that two EY audit partners became too close to audit clients, including one who had a romantic relationship with the client.

New York Attorney General Eric Schneiderman’s probe into Exxon Mobil Corp. includes scrutiny of why it didn’t write down the value of oil fields during a global collapse in prices that prompted billions in write-offs by rival drillers, according to a person familiar with the matter.

Lee Klumpp of BDO USA’s Nonprofit Institute for Excellence explains in this video how FASB’s new not-for-profit accounting standards will change how nonprofits classify net assets on their balance sheets.

The Public Company Accounting Oversight Board imposed sanctions on three audit firms, along with engagement partners at two of the firms, for violating independence requirements while auditing broker-dealer clients.

ComScore Inc., which replaced its top officers last month amid an investigation into its accounting practices, climbed a day after restating three years of financial results to reflect lower sales than originally reported.

Joel Curry of Validis discusses in this video the changing relationship between auditors and their clients and how it can move to consulting and business advisory services.

Jeff Gramlich of Gramlich Consulting talks in this video about whether the auditing standards and audit quality will be affected by future auditing technologies such as artificial intelligence.

While women are advancing in the internal audit profession, especially in the U.S. and Canada, many women still feel they lack the necessary skills to compete with their male peers, according to a new report.

Joel Curry of Validis discusses in this video how artificial intelligence and analytical technology can improve auditing tools.

Joel Curry of Validis talks about the latest trends in auditing technology in this video.

The American Institute of CPAs has released a report on its Enhancing Audit Quality initiative and how it is working on improving auditing practices.

Eddie Antar, the founder of the electronics chain Crazy Eddie, which collapsed amid accusations of accounting fraud, has died at the age of 68.

Even at 91, former American International Group Inc. Chairman Maurice “Hank” Greenberg isn’t ready to quit fighting.

Three former Tesco Plc executives were charged with fraud and false accounting by the U.K. Serious Fraud Office, after a multi-million dollar shortfall discovered two years ago led to a criminal investigation of the grocer’s finances.

The International Federation of Accountants wants accountant organizations to partner together more widely and share their success stories and best practices.

Jeff Gramlich of Gramlich Consulting explains in this video how technology will change the future of auditing and allow continuous audits and process improvements.

American Realty Capital's former CFO has been charged with orchestrating an accounting fraud that overstated a key metric by roughly $13 million in 2014, according to the U.S. Attorney’s office.

Joel Curry of Validis discusses in this video how continuous auditing can work.

The Financial Accounting Standards Board proposed improvements Thursday in the accounting guidance for hedging activities.