Audit

2024 will be a demanding year for internal auditors who will be facing new requirements and updated standards.

The Securities and Exchange Commission's chief accountant cautioned auditors and public companies about the statement of cash flows after spotting problems that could lead to a financial restatement.

Nearly one-third of public companies are using artificial intelligence in their financial reporting, according to a new survey.

The International Auditing and Assurance Standards Board has unveiled a new standard for auditing smaller businesses and organizations.

The Securities and Exchange Commission voted to approve a new standard for audit confirmations that updates a decades-old standard to recognize the use of technology.

Plus, Xero now automatically calculates sales tax; and other accounting technology news and updates.

The case involves a former hedge fund manager whom the SEC accused of misleading investors.

The board levied penalties against three firms in China, including member firms of PricewaterhouseCoopers that it found were improperly sharing answers to exams.

Ark Pro CPAs topped the league tables in the third quarter, with five new SEC clients, all in China.

Corporate audit committees have been providing investors with more information about their activities and responsibilities over the past 10 years, but there's still room for improvement.

The company has added outsourced tax and advisory services for CPA firms as part of the renaming.

Erica Williams described the work the PCAOB has been doing to overhaul out-of-date auditing standards and increase its inspections and penalties.

Financial restatements, which have generally been on a downward trend since 2003, spiked in 2021.

Democratic lawmakers want the service to look into the possible abuse of tax breaks on the island.

The board voted to approve a new budget for fiscal 2024, and revealed it surpassed last year's record amount of fines.

A recent survey has found internal auditors are optimistic about the economy and about the availability of talent going into 2024 despite ongoing risks in both areas.

Pentagon officials nonetheless claimed significant progress in tracking its assets and correcting hundreds of deficiencies in its accounts.

The audit overseer hit at least nine different firms, with fines totaling approximately $4 million.

Average fees increased by 4.6% from 2021 to 2022, and more auditors are using data analytics in their audits, according to a new report.

The former co-CEOs of Bitwise Industries used a number of fake documents to help raise money from investors.