Audit

PCAOB sanctions Canadian firm over noncooperation with inspections

The Center for Audit Quality introduced a new high school curriculum to expose students to accounting careers and grow a more diverse talent pipeline.

The legislation would deter the Internal Revenue Service from using the $80 billion in extra funding from the Inflation Reduction Act to increase audits of taxpayers earning under $400,000 per year.

The Securities and Exchange Commission charged several investment advisors with combined penalties of $1 million for violating the Investment Advisors Act's Custody Rule.

The warning follows several businesses switching to U.S. auditors amid an ongoing dispute between regulators in Washington and Beijing.

PricewaterhouseCoopers pointed to progress in its audit practice on a number of fronts, including on inspections, training and diversity.

The firm discovered during an audit in December that it had made an error in processing seven months earlier.

The board's target team of inspectors focused on special purpose acquisition companies, fraud, going concern issues, cash and cash equivalents during its inspections of auditing firms last year, according to a new report.

The PCAOB has picked some Chinese companies for the first batch of inspections after reaching a deal with China to end a decades-long impasse.

The merger between BKD and DHG put their combined firm at the top of the roster.