Auditing January 23, 2025
RSM US Forms Audit Quality Board
The three-member board will be tasked with evaluating the effectiveness of quality control and system of quality management matters within RSM US's assurance practice, among other things.
Auditing December 26, 2024
AIPCA to SEC: Reject the PCAOB’s Audit Firm Metrics Rules
In a Dec. 19 comment letter to the SEC, the AICPA says the new requirements adopted by the PCAOB last month would particularly burden small and midsized firms, as well as unintentionally hurt capital markets and the investing public.
SEC December 23, 2024
Entergy Hit With $12 Million SEC Penalty for Violating Accounting Rules
The SEC alleged that Entergy had inaccurate controls when recording materials and supplies, despite employees and management consultants flagging the issue.
Auditing December 19, 2024
Ensuring Success 2024 Online Conference Wrap Up, Day 2 –
Thursday's free CPE session topics begin at 9am ET, and include Secure Act 2.0 effects on retirement, CAS, business license management, firm strategies, tax resolution, firm staffing, and marketing. Day two sessions start at 9am ET.
SEC December 18, 2024
SEC OKs PCAOB Budget for 2025
The 2025 PCAOB budget totals $399.7 million, and the accounting support fee totals $374.9 million, of which $346.1 million will be assessed on public company issuers and $28.8 million will be assessed on registered broker-dealers.
![Fraud_Definition_iStock_4_11_13_1_.57a35565088db[1]](https://www.cpapracticeadvisor.com/wp-content/uploads/2020/11/Fraud_Definition_iStock_4_11_13_1_.57a35565088db_1_.5fbc37b5ebe41.png)
Auditing December 17, 2024
AI Lowers Barriers to Fraud Investigations
The median duration of a fraud scheme is more than a year, with losses compounding the longer the plot goes on.
Accounting December 17, 2024
FASB Taxonomies for 2025 Are Now Available
The Financial Accounting Standards Board released the 2025 GAAP Financial Reporting Taxonomy, which contains updates for accounting standards, and four other taxonomies on Dec. 16.
Auditing December 13, 2024
Protiviti Awarded First Patent for Automated Audit Artifact Reconciliation Process
The patent from the U.S. Patent and Trademark Office is the global consulting firm's first since launching its Global Patent Program in 2022.
ESG December 11, 2024
Wolters Kluwer Adds Features to TeamMate+ to Enhance Internal Audits and Data Quality
The new capabilities will enable internal audit teams to streamline planning, improve data accuracy, and enhance governance.
Auditing December 6, 2024
PCAOB Says Audit Firm Culture is Tied to Audit Quality
Taking a deep dive into internal firm culture, a new PCAOB staff report discusses several factors that can impact audit quality.
Auditing December 6, 2024
PCAOB Punishes New York Audit Firm, Three Partners for Deceiving Inspection Staff
The PCAOB doled out $465,000 in total fines, permanently revoked the registration of Raines & Fischer, and barred three of its partners.
Auditing December 6, 2024
PCAOB Revokes Israel-Based Audit Firm’s Registration, Bars Partner
The sanctions against Weinstein International CPA and Idan Weinstein are for violating rules on three issuer audits.
Auditing December 6, 2024
PCAOB Adopts New Audit Firm Reporting Standards
“Sound and consistent information strengthens investor confidence and can drive audit quality,” PCAOB Chair Erica Williams said.