Audit

The latest data on revenue growth for CAS practices, statistics from IRS Criminal Investigation for the full year of 2024, and other major metrics.

The Public Company Accounting Oversight Board found specific deficiencies in the testing of internal controls and accounting estimates, and in engagement quality reviews.

Hindering the audit marketplace creates risk for the investing public, says the AICPA's Sue Coffey.

Delivering an invoice for any service, including a tax audit, is a marketing activity, and it cannot be assumed that the client understands the value.

Auditing firms are asking the SEC to reject the Public Company Accounting Oversight Board's recent standards on firm and engagement metrics and firm reporting.

The traditionally static field of auditing is on the edge of an industry-changing transformation, thanks to artificial intelligence.

The PCAOB will be able to address situations in which a registered firm has ceased to exist, is nonoperational, or no longer wishes to remain registered.

While artificial intelligence has intrigued humans for centuries, it was not until the past few years that it has undergone explosive growth in every field.

Companies that work with auditors who have more industry experience but charge more than competitors offering "lowball" fees tend to save more money in the end.

In a comment letter, the institute says the board's new requirements could drive smaller auditing firms out of the market.

The Public Company Accounting Oversight Board's 2025 budget totals $399.7 million, and the accounting support fee totals $374.9 million.

The average audit fee increased to $3.01 million in 2023, up from $2.83 million in the previous cycle, according to a new report.

The Institute of Internal Auditors and the Association of Chartered Certified Accountants have renewed their memorandum of understanding for another three years.

Plus, Avalara named leader in three IDC MarketScape reports; LeaseCrunch to hold webinar; and other accounting tech updates.

The features automate audit planning over multiple periods and provide in-context guidance for end users of the audit management platform.

Auditing firms appear to be making headway on fixing some of the problems identified by the Public Company Accounting Oversight Board.

The nominee for head of the Securities and Exchange Commission, Paul Atkins, will pursue a more deregulatory and crypto-friendly approach than Gary Gensler.

The Public Company Accounting Oversight Board will continue its inspection focus on public companies in the financial, real estate and information technology sectors.