Audit

Audit firms need to make sure their business makes sense — and that their clients' does, too.

Who are the casualties of the SEC’s aggressive enforcement?

As with 2018, mergers made a major difference for many auditing firms – but not all.

The American Institute of CPAs will begin offering SOC for Supply Chain, a new assurance framework, this month, to help business clients have more confidence around the viability of their global supply chain in the midst of threats like the coronavirus.

PricewaterhouseCoopers is adding a third external director to its board, former SEC commissioner Troy Paredes, and establishing an Assurance Quality Advisory Committee where the firm will bring in more outside voices to help improve its audits.

A professional review of a company’s accounts payable data can yield significant benefits.

Leaders of the Securities and Exchange Commission and the Public Company Accounting Oversight Board issued a joint statement Wednesday about the impact of the coronavirus on audit firms trying to operate in China.

The Financial Reporting Council issued guidance Tuesday about the disclosure of risks surrounding the coronavirus, and is discussing with audit firms whether the virus will affect their ability to review audits in China.

The White House’s latest budget blueprint proposes consolidating the functions and responsibilities of the Public Company Accounting Oversight Board into the Securities and Exchange Commission starting in 2022.

The International Federation of Accountants has released a set of recommendations for achieving high-quality audits as regulators around the world push for more thorough audits to avoid accounting scandals.