Audit

The Public Company Accounting Oversight Board is regrouping with a slate of new board members recently appointed by the Securities and Exchange Commission, and it approved its fiscal year 2022 budget during a rare open meeting on Tuesday.

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The claimants allege that KPMG “failed to maintain independence and an appropriate attitude of professional skepticism" in the insolvency of Dubai private-equity firm Abraaj Group.

Audit committees at public companies have been upping the amount of disclosures they have been providing in proxy statements, especially when it comes to cybersecurity and non-audit services.

Internal auditors are keeping a close eye on emerging risks as the COVID-19 pandemic continues, with cybersecurity at the top of the priority list.

A research team from Bentley University found that ethnic minority audit partners face significant bias and discrimination compared to their white counterparts.

The Securities and Exchange Commission has appointed longtime SEC official Erica Y. Williams as the new chair of the Public Company Accounting Oversight Board, and named three new members.

With activity up, a number of firms brought on large numbers of new clients, but netted far fewer.

The commission approved a rule to ensure the Public Company Accounting Oversight Board can inspect firms in other countries, especially China.

Most boardroom audit committees around the world don’t discuss climate on a regular basis or consider themselves particularly knowledgeable about the subject.