Auditing January 7, 2025
The blockbuster fine of 2024 was the $25 million penalty the PCAOB gave KPMG in the Netherlands last April for systemic internal exam cheating over a five-year period. It's the largest fine the PCAOB has ever doled out.
December 26, 2024
December 18, 2024
December 6, 2024
June 12, 2017
The annual Sarbanes-Oxley (SOX) Compliance Survey released by global consulting firm Protiviti today reveals a new set of challenges facing public companies amid their compliance efforts. PCAOB audit requirements, new revenue recognition standards and ...
May 22, 2017
The next generation exam, which began testing on April 1, has added additional assessment of higher-order cognitive skills that test a candidate’s critical thinking, problem solving and analytical ability. The exam also makes greater use of task-based ...
May 16, 2017
A SOC 2 attestation focuses on an organization’s controls in areas such as operations and compliance. It is performed in accordance with AT Section 101: Attest Engagements, and this report is generally best suited for financial services, health care ...
April 21, 2017
Perhaps no issue in contemporary accounting has drawn more attention than that of mandatory auditor rotation – whether companies should be required, in the cause of sound financial reporting, to periodically change audit firms or audit-firm engagement ...
April 20, 2017
The firm learned in late February, from an internal source, that an individual who had joined KPMG from the PCAOB subsequently received confidential information from a then-employee of the PCAOB, and shared that information with other KPMG personnel.
February 21, 2017
A roundup of professionals in the tax and accounting profession that have changed jobs and/or been promoted.
January 17, 2017
With companies and not-for-profit entities facing a top-to-bottom review of their revenue recognition because of a looming accounting standard, the American Institute of CPAs (AICPA) has issued the first online edition of an Audit & Accounting Guide ...
October 6, 2016
The Center for Audit Quality (CAQ) has published two new member alerts that can help public company auditing firms address potential risks in a proactive and accelerated manner.
August 2, 2016
Virtually everyone agrees that being able to differentiate your firm is cool. Yet, very few local CPA firms are in fact, different. To be fair, the nature of what CPAs do naturally makes them look more alike than different.
July 19, 2016
ARAG, a group of practitioners and academics formed in collaboration with the American Accounting Association, will review and approve academic research proposals that address questions with a nexus to the following topics.
July 6, 2016
Since Reg A+ rules were adopted one year ago, over 100 companies have filed for approval. This number is expected to continue growing as crowdfunding becomes more and more popular.
May 24, 2016
I've been reporting on the accounting profession since Andersen was in the Big Five, Sarbanes and Oxley were just drinking buddies in DC, Enron was a company where great careers were made, and the PCAOB wasn't even a figment of anyone's imagination.