Audit

A joint report by the AICPA and Chartered Professional Accountants Canada said the rapid rise of AI opens up opportunities to provide independent assurance.

The International Auditing and Assurance Standards Board has revised its standard on the auditor's responsibilities relating to fraud.

The Public Company Accounting Oversight Board gave reminders for auditors who audit smaller public companies in its latest staff publication.

The American Institute of CPAs' Auditing Standards Board is looking for feedback on a proposed standard updating auditors' responsibilities related to fraud.

The Office of Management and Budget is calling for a major overhaul in how federal agencies conduct financial audits.

Helping clients through tax controversy cases with the IRS means knowing which battles are winnable.

Technology is driving transformation in audit at an ever-faster pace, says EY's Paul Goodhew.

AI-driven firms fail to mention that if their AI-generated tax advice results in an audit, their customers, not the firms themselves, are held legally liable.

The audit overseer fined Deloitte Netherlands, PwC Netherlands and EY Netherlands a total of $8.5 million after finding widespread exam misconduct on internal training tests.

The Public Company Accounting Oversight Board sanctioned the firm Michael T. Studer CPA and Michael Studer for repeat violations related to a 2019 audit.

The provision would have eliminated the Public Company Accounting Oversight Board and transferred its responsibilities to the Securities and Exchange Commission.

The Senate rules-keeper rejected provisions eliminating the Public Company Accounting Oversight Board and EPA air-pollution emissions standards.

The Public Company Accounting Oversight Board reported that deficiency rates remain high across examination, review and audit engagements.

The Public Company Accounting Oversight Board sanctioned Heaton & Co. and one of its partners, Kristofer Heaton, for failing to properly document five audits.

The Securities and Exchange Commission is making plans in case it inherits the Public Company Accounting Oversight Board's duties if the tax bill passes.

Extreme weather events like wildfires and hurricanes could drop corporate earnings up to 7.3% by 2035, KPMG's 2025 Futures Report found.

Seventy percent of U.S. audit clients are ready to change firms within the next three years, according to an Inflo report.

Plus, Paychex releases accountant portal; Avalara launches APIs for 1099, W-9 solutions; and other accounting tech news.

Audit partners' pessimism about the U.S. economy surged from 10% in the fall to 44% today, according to a Center for Audit Quality report.

Big Four firm PwC announced it can now provide assurance on AI systems to see if they've been designed and operated responsibly.