Audit

The PCAOB released a report that found 42% of auditing firms got at least one quality control criticism related to engagement quality reviews.

"These findings are damning," Jon Holt, CEO of KPMG in the U.K., said. "It is clear to me that our audit work on Carillion was very bad."

The dispute centers on a 2012 IRS audit into transfer pricing, a method used to shift profits to tax havens and avoid the U.S. corporate tax rate.

When she asked whether a line of credit would show up in FTX's audit, he said, "Don't worry, the auditors aren't going to look at that."

Whether a qualified, disclaimer or adverse opinion is given depends on the nature and scale of the problem, and some states had lots of problems.

A majority of chief audit executives and information technology audit leaders consider cybersecurity to be a top risk over the next year, but they're less concerned about artificial intelligence.

The team kicked off an unusual multiyear partnership Tuesday with the Accounting+ initiative to draft a new generation of diverse students to join the profession.

The commission charged the Top 100 Firm with violating auditor independence rules on many occasions.

The standard reflects the many changes in technology, communications and business practices since an interim standard was first adopted decades ago.

Cybersecurity and human capital rank as the top risks among internal auditors around the world, according to a new survey.