Auditing August 20, 2026
A new standard that clarifies and enhances auditors’ responsibilities for identifying fraud or suspected fraud in a financial audit statement was approved by the AICPA's Auditing Standards Board on Aug. 20.
Auditing September 24, 2025
New York City-based Marcum Asia CPAs LLP settled charges with the Public Company Accounting Oversight Board on Sept. 23 over charges that it broke U.S. audit rules on communicating with a successor auditor.
Auditing September 11, 2025
The Public Company Accounting Oversight Board has released a new staff publication for auditors of broker-dealers containing advice on exemption report reviews.
Accounting September 3, 2025
Because auditors are documenting CAMs related to lease accounting, lease accounting teams should understand what makes them so important.
Auditing August 28, 2025
The Public Company Accounting Oversight Board said the effective date for its new quality control standard—QC 1000, A Firm's System of Quality Control—which was slated for Dec. 15 of this year, will be pushed back until Dec. 15, 2026.
Auditing July 23, 2025
Centurion ZD CPA & Co. and its owner Chan Kam Fuk were sanctioned for violating U.S. auditing and quality control rules and standards related to audits of companies based in China, including Chinese coffee chain Luckin Coffee Inc.
Auditing July 15, 2025
The three firms censured and fined by the PCAOB on July 11 for violating U.S. auditing rules and standards were Goldman & Co. CPAs ($25,000), Raymond Chabot Grant Thornton in Canada ($30,000), and PWR CPA ($60,000).
Auditing July 10, 2025
Michael Coglianese, CPA PC was censured and fined $50,000 July 10 for violating U.S. auditing rules and standards in connection with 17 audit and attestation engagements for SEC-registered brokers and dealers.
Accounting July 7, 2025
The proposed Statement on Auditing Standards contains a number of changes, including the establishment of required procedures for when an auditor has identified fraud or suspected fraud.
Auditing June 25, 2025
Michael Studer, CPA, was permanently barred on June 24 and his firm, Michael T. Studer CPA PC, had its PCAOB registration revoked after the accountant was found to be a repeat violator of U.S. auditing rules and standards.
Auditing June 25, 2025
The Netherlands-based affiliates of Deloitte, PwC, and EY were found to have violated U.S. auditing rules and quality control standards related to internal exam cheating and inefficient monitoring of their quality control systems.
Auditing June 13, 2025
The Utah-based firm and its founder/partner Kristofer Heaton were fined on June 12 for audit documentation, engagement quality review, and quality control failures involving five audits.
Accounting May 22, 2025
Sullivan will succeed Michael M. Morrow who joined the FASAC in 2019, has served as FASAC chair since January 1, 2020, and will conclude his service in December.