Audit

The board brought 34 actions against 45 respondents and imposed a record $35 million in penalties in the first half of 2024.

A new set of inspection reports of the most frequently inspected firms has been released earlier than usual.

The investment firm late Monday said it couldn't file its quarterly report with regulators on time, due to problems in valuing its loans and investments

China Evergrande Group's liquidators have launched court proceedings against PricewaterhouseCoopers LLP, another legal step to recover at least a fraction of creditors' investments from the property giant.

The Public Company Accounting Oversight Board announced its largest-ever cohort of students will receive $15,000 each, up from $10,000 in previous years.

Plus, CAQ releases generative AI guide for audit committees; US Bank announces new AR solution; and other accounting tech news.

PwC announced the rollout of its new ChatNational large language model AI for internal staff, which is designed exclusively for research questions versus the more general use ChatPwC

A recently introduced Senate bill would direct the federal government to develop third party audit standards for AI.

High-income backdown; Direct File collision; the vaping excise mess; and other highlights from our favorite tax bloggers.

Generative AI continues to build in the accounting world, as both KPMG and Armanino announced new capacities in their respective audit tools.

The PCAOB issued its annual report on its audits of brokers and dealers and noted that it's seeing at least one deficiency in 70% of the 103 audit engagements it reviewed in 2023.

The Public Company Accounting Oversight Board has released the results of initial outreach efforts regarding auditors and generative AI.

Going concern opinions have slowly decreased over the last two decades, with the exception of spikes during the 2008 financial crisis and the years of the COVID-19 pandemic.

The Big Four firm netted the most new SEC audit clients in the first quarter, followed closely by Deloitte.

The role of the internal auditor is expected to change drastically in the decade to come, according to a new report by the Institute of Internal Auditors.

AuditBoard has released an out-of-the-box assessment tool feature for internal auditors to assess conformance with new IIA global standards.

The agency is hoping to counter a widespread impression that people can get away without paying their taxes, according to Commissioner Werfel.

The International Auditing and Assurance Standards Board issued new advice for auditing smaller companies.

The Accounting and Financial Reporting Council is still carrying out a separate investigation into audits on China Evergrande Group.

The rich and the audits; after Beryl; just ask; and other highlights from our favorite tax bloggers.