Audit

Auditors face a special dilemma when it comes to determining if a client can continue, says Stephen Franciosa.

Big Four firms in the United Kingdom should be subject to fines of 10 million pounds ($13.2 million) or more for seriously poor audit work, according to an independent review by the U.K.’s Financial Reporting Council.

The Public Company Accounting Oversight Board has approved a reduced budget for fiscal year 2018 of approximately $259.9 million along with a strategic plan for 2017-2021, plus a smaller accounting support fee and staff.

The Anti-Fraud Collaboration, a joint effort of the Center for Audit Quality, Financial Executives International, the Institute of Internal Auditors and the National Association of Corporate Directors, has released a new report urging accountants, auditors and other business people to blow the whistle on any financial reporting shenanigans they see.

The major firms are leveraging the latest tools to make the auditing process more efficient.

The two tax plans right now; bad bets; the future of audit; and other highlights from our favorite tax bloggers.

Increases in audit fees paid by public companies aren’t necessarily producing better audit quality, according to a new report.

The Public Company Accounting Oversight Board is finding many of the same problems at auditing firms during its most recent inspections that it has admonished firms for in the past, according to a new report.

The Internal Revenue Service’s Large Business and International division is launching 11 more compliance campaigns looking at various ways to ensure companies are meeting their tax obligations.

The 10th annual request from the Center for Audit Quality seeks submissions by March 15, 2018.