Audit

The shakeup at the Public Company Accounting Oversight Board continued with the announcement Tuesday that Claudius Modesti, director of the PCAOB’s Division of Enforcement and Investigations, will be leaving at the end of the month.

The European Union’s General Data Protection Regulation takes effect Friday, and it could affect accountants and auditors, along with their clients, in the U.S.

Samsonite International SA, the world’s largest branded-luggage maker, tumbled the most since 2012 after short-seller Blue Orca Capital questioned the company’s accounting and corporate governance.

The Public Company Accounting Oversight Board censured Deloitte & Touche LLP and imposed a $500,000 penalty against the Big Four firm for overlooking material accounting errors during three consecutive audits of Jack Henry & Associates, Inc., a Missouri-based IT provider for banks and credit unions.

KPMG LLP is conducting an internal review into its audits of embattled Middle East buyout firm Abraaj Group following the alleged misuse of money, according to people with knowledge of the matter.

The American Institute of CPAs has issued a new standard to provide guidance for CPAs performing compilations and reviews to address international reporting issues.

Even as their job gets easier, the largest auditors impose greater charges the longer they’re auditing a company, according to a new academic study.

Martin Baumann's leaving follows last week's resignation of inspections director Helen Munter.

The AICPA chief challenged the profession to embrace changes in auditing, technology and more.

Helen Munter, director of registration and inspections at the Public Company Accounting Oversight Board, plans to leave the PCAOB at the end of May.