Audit

The board is finding deficiencies in about one-third of the audits it inspected in 2021.

The average number of critical audit matters per audit report has declined over time, while the proportion of audit reports that communicate only a single CAM has increased.

The board levied sanctions and fines totaling $7.7 million against three of KPMG's member firms in the U.K., India and Colombia.

The Institute of Internal Auditors sent a letter to lawmakers urging them to set new requirements for crypto exchanges in the U.S.

The Top 25 Firm's major merger with Friedman brought it a host of new engagements.

The inspector general's investigation found no evidence that the former FBI leaders' returns were chosen deliberately.

A recent report from AuditBoard says that cybersecurity and data privacy are among the key risks facing internal auditors today.

Auditing firms can expect enhanced inspections, strengthened enforcement and higher penalties, says Public Company Accounting Oversight Board Chair Erica Williams.

The board announced the launch of its new Technology Innovation Alliance working group, meant to advise the audit overseer on issues with emerging technology.

Audit committees are including more disclosures within proxy statements, but there's a disconnect between what investors expect and what companies are willing to disclose.

Cole was convicted of a single count each of securities fraud and improperly influencing an audit, plus six counts of making false filings with the SEC.

Prager Metis CPAs LLC, an auditor for FTX, was sued by an investor, who also sued Armanino LLP, an auditor for FTX US, FTX's co-founder Sam Bankman-Fried and others.

The agency aims to hire scores of auditors, but there's a nationwide shortage of accountants.

A recent report from the IESBA says that technology has created more opportunities for ethical dilemmas that highlight the importance of standards.

The Public Company Accounting Oversight Board proposed significant changes in the requirements for firms' QC systems, modernizing standards in place for decades.

For the first time in years, rich Americans who cheat on their taxes face a growing threat from the Internal Revenue Service.

The program is designed to give students audit experience and accelerate them on the path to CPA licensure.

A survey from the CAQ asked auditors about the trends they're seeing at public companies.

Democrats on the tax-writing House and Ways Means Committee are asking the Justice Department and the Treasury Inspector General for Tax Administration to investigate.