Audit

Two Ernst & Young auditors were told by a German court that they must testify before a parliamentary committee about their accounting work for scandal-ridden Wirecard AG.

Nonprofit and for-profit organizations that received Paycheck Protection Program loans could unexpectedly find themselves confronting the “single audit” requirement for the first time, even though PPP loans are supposedly exempt.

Claims for the R&D tax credit may be coming under closer scrutiny from the IRS.

The American Institute of CPAs is proposing to revise its quality management standards to take a more risk-based approach targeted at the types of engagements performed by the CPA firm.

One major difference between past audits and those of today are they are now being almost completely performed in a remote environment.

The Public Company Accounting Oversight Board released its annual inspection reports Tuesday for the Big Four firms, along with eight other firms that are inspected each year.

Germany wants to bolster the expertise at its top financial regulator to prevent a repeat of the Wirecard scandal that exposed significant cracks in the country’s oversight.

A major merger with another Top 100 Firm put it far in the lead.

The chairs of corporate audit committees want to hear more regularly from auditors, but they’re also concerned about “over-auditing” and “over-documentation,” according to the Public Company Accounting Oversight Board.

U.S. officials responsible for preparing for a pandemic routinely raided funds for public health emergencies, diverting money from vaccine development to pay for other projects at the U.S. Department of Health and Human Services, a federal watchdog said Wednesday.