Audit

Deloitte & Touche chairman and CEO Joe Ucuzoglu, who leads Deloitte’s audit practice, is preparing the firm for the audit demands of the future, with the help of sophisticated technology.

An accountant who helped Bernard Madoff fudge trading records to cover up fraudulent transactions in the biggest Ponzi scheme in U.S. history won’t be going to prison.

Over the years there has been no lack of TV series about the legal and medical professions, but for some reason the accounting profession has received relatively little attention. We think that should change and we have a few suggestions.

No doubt there are many fans of science fiction and fantasy among accountants, but what’s surprising is how many accountant characters there are in the genre.

The Financial Accounting Standards Board has voted to defer the effective date of the revenue recognition standard for one year.

The Public Company Accounting Oversight Board has sanctioned seven audit firms for violating independence requirements in connection with audits of brokers and dealers, and sanctioned engagement partners at two of the firms for causing the violations.

The Institute of Internal Auditors and the Auditing Roundtable, Inc. have signed a merger agreement after more than a year of negotiations.

Mary Schapiro, the former chair of the Securities and Exchange Commission has joined the governing board of the Center for Audit Quality.

The consulting and internal audit firm Protiviti has released its annual Internal Audit around the World outlook.

The American Institute of CPAs has posted new information on its Web site for auditors who are asking for further information from attorneys.

The Securities and Exchange Commission is increasingly relying on administrative hearings for its enforcement actions, according to a new report.

The U.K. Financial Reporting Council is investigating former employees of RSA Insurance Group Plc’s Irish unit regarding accounting irregularities in 2012.

Noble Group Ltd. appointed PricewaterhouseCoopers LLP to review how it values some of its assets after criticism of the Asian trading company’s accounting practices.

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board, are reassessing its structure and effectiveness.

New research indicates that many investors tend to overlook the vague misgivings that auditors might express in letters included with their audit reports, even though those warnings often turn out to be a predictor of future trouble with a company’s financial statements.

Accountants are getting ready to implement the new revenue recognition standard, even though a one-year delay on the date it takes effect seems all but certain.

The Institute of Internal Auditors has enhanced its International Professional Practices Framework, which has provided internal auditors worldwide professional guidance in various forms since 1947, in response to more recent risks, while also releasing a report on the current pulse of the internal audit profession.

The Securities and Exchange Commission has reappointed Public Company Accounting Oversight Board member Lewis H. Ferguson to a second term on the board.

Singer-songwriter Robyn Rihanna Fenty may be sending a chilling message to her former accountant in her new music video B*tch Better Have My Money. Rih-Rih kidnaped, tortured, and had a marijuana love fest with a high net-worth woman, who turns out to be the wife of Rihanna’s former accountant, aka “The B*tch.” …

The American Accounting Association has retracted 25 articles written or co-authored by a former accounting professor who was forced to resign after his university uncovered a “pattern of misconduct.”