Audit

If you have an income of $1 million or more there’s less than a 1% chance that the IRS has called you in for an audit, according to new figures from the agency.

When Joel Black succeeds David Vaudt as chair on July 1, none of the board's seven members will have served as a state auditor or treasurer.

The IRS initiated 71 percent fewer corporate audits this spring compared with the same time period a year ago as the coronavirus pandemic halted many agency operations.

Hailee Johnson, a manager in UHY’s audit practice in Michigan, led a softball team sponsored by the firm to a World Series C Softball Championship in 2017, and she is hoping to do the same this year.

Wirecard auditors say ‘elaborate’ fraud led to missing billions

The Internal Revenue Service wasted $22.7 million auditing tax returns that resulted in no additional revenue for the federal government, according to an agency watchdog.

There are close to 84,000 employee benefit plan audits conducted in the United States each year, almost 70 percent of which are limited-scope audits.

Britain’s audit industry faces another dent to its reputation as the nation’s accounting watchdog ordered a probe into PricewaterhouseCoopers LLP, Ernst & Young and Oliver Clive & Co.’s work for defunct London Capital & Finance Plc.

The pandemic is introducing changes — potentially significant ones — to the SOX compliance process.

Wirecard AG’s former chief executive officer was detained by Munich prosecutors after 1.9 billion euros ($2.1 billion) went missing from the digital-payment company, in a scandal that has rattled Germany’s financial industry.