Audit Standards
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Avalara Unveils Intelligent Tax Content Solution for Lodging and Hospitality
Survey: Over Half of Accounting Firms Plan to Increase Fees in 2025
Andersen Advances Global Valuation Practice in 10 Asia Pacific Countries
81% of Business Owners Have Some Optimism for 2025 Economic Outlook
PCAOB Fines Florida-Based Firm L&L CPAs $75,000 for Auditing Blunders
The firm and three people were sanctioned for violations related to quality control, auditing failures, and missing Form AP deadlines.
CAQ Asks PCAOB to Extend Comment Period on a Pair of Proposed Standards
The Center for Audit Quality asked for an extra 60 days to review and provide feedback on two proposals with a June 7 comment due date.
PCAOB Slaps Audit Firm MaloneBailey With $400,000 Fine
The top 200 accounting firm was sanctioned on May 21 for what the PCAOB calls “pervasive quality control violations.”
AICPA Auditing Standards Board Approves Revisions to Attestation Standards
The changes are intended to align them with the AICPA standards pertaining to quality management, and related financial statement audit and non-audit standards.
PCAOB Replaces Old Quality Control Rules With a New Standard
The new quality control standard will require audit firms to annually evaluate their QC systems and report the results to the PCAOB.
New PCAOB Rules Would Push Auditors to Assemble Final Documentation More Quickly
As part of a new standard adopted May 13, the time period to assemble a final set of audit documentation would be cut from 45 to 14 days.
PCAOB Proposal Would Require Audit Firms to Disclose a Variety of Metrics
The proposal would direct firms to provide more information, like involvement of partners and auditor turnover, to investors.
KPMG China’s Mishaps Result in Three Audit Partners Being Fined By the PCAOB
The three KPMG Huazhen partners were docked a total of $150,000 for turning a blind eye to U.S. auditing standards.