Audit

The Public Company Accounting Oversight Board levied sanctions and penalties against four auditing firms as part of a sweep.

The Internal Revenue Service would be able to implement changes to the Child Tax Credit within weeks, IRS Commissioner Danny Werfel told Congress, and send out tax refunds promptly.

The International Ethics Standards Board for Accountants has proposed new rules to help auditors steer companies away from greenwashing.

The engagement partner and engagement quality review partner on the audit of Mexican steelmaker owe a combined $165,000.

Avoidance above all; conferences to attend; creeping brackets; and other highlights from our favorite tax bloggers.

The International Auditing and Assurance Standards Board is proposing to toughen its rules for requiring auditors to look for signs of fraud in a client's financial statements.

The guidance would align with COSO's widely used internal controls and enterprise risk management frameworks.

Audit reports contain significant, material information, argues accounting educator J. Edward Ketz.

The Public Company Accounting Oversight Board staff report offered insights into the PCAOB's inspection program for auditors of broker-dealers and issues with professional skepticism and low-ball fees.

The commoditization of audits is contributing to the CPA shortage.

The Public Company Accounting Oversight Board also permanently barred a sole practitioner in New York.

Businesses are likely to see more sales tax audits in 2024 as a result of changes happening across the states, according to a new report.

In the year since a $5 billion accounting fraud scandal erupted at his former company, the Rio de Janeiro native has relocated to Spain while Brazilian investigators continue their probe.

If CFOs, controllers and other finance leaders implement a handful of straightforward best practices before, during and after an audit, they can maximize efficiency and insight for everyone involved.

Swag taxes; audit ROI; your best reading for 2024; and other highlights from our favorite tax bloggers.

The service reported on its increased enforcement efforts on Friday, including collecting over half a billion dollars from millionaires who didn't pay their taxes.

The AICPA & CIMA have begun accepting nominations for their EDGE in Teaching Awards and Distinguished Achievement in Accounting Education Awards.

The Institute of Internal Auditors' newly updated set of Global Internal Audit Standards takes effect in January 2025.

Perceived deficiencies in oversight posed a risk that licenses could be granted to applicants lacking financial stability or cybersecurity standards, an audit team wrote.

The International Auditing and Assurance Standards Board is planning to make some minor adjustments in its quality management and global audit standards to align them more closely with international ethics rules for accountants.