Audit

KPMG US has established an independent advisory committee to improve its audits amid tougher inspections and enforcement.

The advice will help in determining the appropriate situations to use the standard.

An Ontario court placed the firm and owner Ben Borgers on probation for two years for unlicensed, unregistered audit work, and ordered both to pay fines.

Six years of the Centralized Partnership Audit Regime have elucidated a central understanding: the provisions present plenty of potential pitfalls for partnerships, partnership representatives and the partners.

PricewaterhouseCoopers LLP's China unit expects the Chinese government to hand down a six-month ban as part of punishment over its audit of failed property giant China Evergrande Group, according to a person familiar with the matter.

Caseware and CPA Club announced a new collaboration that will combine each of their resources to facilitate the implementation and use of quality management solutions for firms.

The commission approved proposals from the PCAOB around contributory liability, the responsibilities of the auditor, and technology-assisted data analysis.

It's time to change our outlook and embrace the advancements in performing SOC 2 audits to fully realize the incredible amount of value and competitive advantage the service can provide.

A useful AMT; refunds of the dead; core-satellite portfolios; and other highlights from our favorite tax bloggers.

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.