Audit

The profession is turning its attention increasingly toward environmental matters to help clients adjust to new demands for climate and sustainability reporting.

The Financial Reporting Council also issued a severe reprimand against the auditing giant and sanctioned the engagement partner roughly £40,000.

The board imposed monetary penalties and sanctions Tuesday against two firms that had been working with unregistered Chinese auditors.

Audits of high-net-worth filers require more time and expertise, and the agency’s underfunding has led to a significant loss of personnel capable of performing those.

The board released its 2021 annual report on Thursday, highlighting its main accomplishments as it transitioned to a mostly new board.

The CSRC called for faster implementation of a new rule surrounding overseas listings that may remove a hurdle for U.S. regulators.

Americans who have put off their 2021 taxes have less than a week to file a return or an extension — and fill them out accurately to avoid trouble from the IRS.

The FRC is toughening up the regulation of Britain’s biggest auditors, as the sector faces heavy criticism over a string of high-profile finance scandals.

Elizabeth Warren and Judy Chu want to know why those making less than $25,000 are audited more often than those making more than $200,000.

The Big Four firm is adjusting to a new, tougher regulatory environment, even as it rolls out its latest auditing technology.

The IRS has the expertise to enforce President Joe Biden’s proposal to tax the unrealized gains of mega-millionaires and billionaires, Senator Elizabeth Warren contended in the face of criticism over the workability of a proposal she strongly supports.

The International Auditing and Assurance Standards Board released a revised standard Thursday to focus on the special considerations that apply to audits of group financial statements.

The board levied a $100,000 fine against Scott Marcello, in its largest monetary penalty ever in a settled case against an individual.

The revised draft rules deleted the requirement that on-site inspections should be mainly conducted by Chinese regulatory agencies or rely on their inspection results.

The audit is going to undergo massive changes over the next decade — and so will those who conduct them.

Board staff called attention to some important considerations for auditors as they plan and perform audits that may be affected by the ongoing war in Ukraine.

Chinese authorities are preparing to give U.S. regulators full access to auditing reports of the majority of the 200-plus companies listed in New York as soon as the middle of this year.

For now, it’s technology, but soon it will be more about demand from markets — and society as a whole.

Experts in auditing imagine the ways this core service of the profession will be radically different in a decade.

Gary Gensler signaled that only total compliance with U.S. audit inspections will allow the companies to keep trading on American markets.