Audit

Just as tired pilots and crew members pose risks to flight safety, auditors fatigued from excessive workloads compromise the quality and reliability of audits.

Short-term thinking by auditors may surrender strategic high ground to outside challengers.

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

The Public Company Accounting Oversight Board revoked the registration of Gries & Associates and its founder, while imposing a $65,000 fine for violations that led to multiple financial restatements.

CTA unconstitutional; AI and your practice; 30 years and counting; and other highlights from our favorite tax bloggers.

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

The regulatory environment around accounting is getting stricter, as the IRS, the SEC and the PCAOB crack down.

Despite suggestions to the contrary, audits remain valuable and serve a grander purpose.

Microsoft is making its Copilot for Finance generative AI solution available for public testing.

Ernst & Young issued a major mea culpa following a failed split of the firm.

The 83 publicly disclosed accounting and auditing enforcement actions in FY 2023 represented the highest number of actions initiated since FY 2019.

Auditors are including CAMs in more of their opinions but disclosing fewer CAMs per opinion, according to an Ideagen report.

The Public Company Accounting Oversight Board is proposing a new rule to prevent auditing firms from making false or misleading statements about being registered or overseen by the PCAOB.

Auditing is undergoing a seismic shift, largely driven by the relentless march of technology.

If you audit or manage a startup company or other privately held business, don't overlook the treatment of stock-based compensation.

The agency will begin three to four dozen new audits this spring to see if inappropriate deductions were made.

The Public Company Accounting Oversight Board levied a $2 million fine against WithumSmith+Brown for violating quality control rules.

The Internal Revenue Service will be scrutinizing the use of corporate jets, focusing on big corporations and partnerships, as well as high-income taxpayers.