Audit

Two recent studies found that auditors with valuable expertise in a specific class of complex transactions and accounts improve audit quality.

The board adopted a set of amendments to strengthen the rules that apply to audits involving multiple audit firms.

There’s a standoff brewing between European lawmakers and the Big Four as they try to lay claim to an ESG market that may generate fees of as much as $8 billion a year.

The pandemic and new IRS priorities are creating new opportunities for practitioners.

Ernst & Young plans to invest $1 billion in next-generation assurance technology for its audit teams around the world to leverage as part of an overall $2.5 billion four-year commitment.

The Internal Revenue Service issued a revised Audit Technique Guide to help examining agents evaluate the validity of cost segregation studies submitted by taxpayers to substantiate accelerated depreciation deductions.

Companies are leaning more on risk management technology, with 72% planning on increasing their spending on technology to support the detection and management of risks.

Deloitte is denying a report this week that it plans to spin off its audit practice as a separate entity from its consulting practice as rival Big Four firm Ernst & Young contemplates such a move.

Two decades after passage of the Sarbanes-Oxley Act, public companies are spending more time and money trying to comply with SOX requirements, despite the increasing use of technology to automate the process.

The profession needs to leverage both its unrivaled reputation for trustworthiness and its creativity and entrepreneurial spirit, say leaders at the AICPA.