Audit

Over the last three decades, internal audit plans of financial institutions have shifted from a model focused on deep dives of sample selections to plans based on overall risk and controls.

Remembering a reform expert; more suggestions for IRS improvement; fluffy nonsense; and other highlights from our favorite tax bloggers.

EY Americas vice chair John King discusses the impact and history of one of the most influential pieces of financial legislation of the past 50 years. 

Some of the standards were inherited two decades ago from the AICPA and don't take into account ever-changing technology.

PCAOB inspections will take place in Hong Kong under a preliminary agreement reached between American and Chinese regulators to avoid delisting.

Taxpayers are concerned the extra $80 billion will lead to more tax audits.

After a decades-long impasse that led to a threat to kick about 200 Chinese firms off New York stock exchanges, PCAOB inspectors may soon get their first look under the hood of some of China's largest corporations.

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.

The Public Company Accounting Oversight Board levied $275,000 in penalties against KPMG's member firm in South Africa and two partners for improperly using and misreporting work done in Zimbabwe.

Under the agreement, inspectors will be able to see complete work papers without any redactions and select any issuer audits.