Audit

The International Forum of Independent Audit Regulators reported on issues with how firms are scrutinizing accounting estimates, testing internal controls, checking revenue recognition and more.

Internal auditors are getting more involved in technology initiatives like cybersecurity and data analytics, according to several new reports.

Auditors can upload scanned documents directly into client engagements.

When auditors push non-attest services, their clients’ financials tend to contain more errors, according to new research.

The audit of the future

The Big Four firm agreed to resolve potential liabilities related to its work for a failed mortgage lender.

Steinhoff International Holdings NV said a review by auditors at PwC into its accounts is focused on certain off-balance-sheet structures and deals with related parties and is likely to find that some assets, revenue and profit figures have been overstated.

Efforts in the U.S. and Europe to encourage public companies to change audit firms have largely failed, according to new academic research.

An omnibus revision to the Statement on Standards for Accounting and Review Services will come out after tax season.

Final regulations have been released for how to avoid the centralized way the IRS can now examine large firms.