Audit

The service hasn’t been doing enough to collect the taxes owed by hundreds of thousands of people who owe billions of dollars, according to a new report.

The Public Company Accounting Oversight Board issued inspection reports Monday for the six largest auditing firms in a new format with more graphs and charts.

For decades, the credit has been subject to a wide gulf of interpretation and hence is an issue ripe for adjustments.

The Public Company Accounting Oversight Board released a document Tuesday with information for auditors and audit committees about audits involving cryptoassets, such as Bitcoin and other digital currencies.

The International Auditing and Assurance Standards Board released guidance for auditors to consider when issuing audit reports amid the COVID-19 pandemic.

Under the Senate legislation, if a company can’t show that it is not under control of a foreign government, or the PCAOB isn’t able to audit the company for three consecutive years to determine that is the case, the company’s securities would be banned from the exchanges.

The Senate overwhelmingly approved legislation Wednesday that could lead to Chinese companies such as Alibaba Group Holding Ltd. and Baidu Inc. being barred from listing on U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.

But relatively few audit execs are actually performing reviews of critical risk areas such as health and safety.

The president acknowledged the move could prompt Chinese companies to move off of the NYSE and Nasdaq.

Some things remain constant for auditors, even when everything else is changing.