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Audit Standards

The IIA Calls for Stronger Governance, Internal Controls, and Independent Audit Requirements in Prediction Markets

Auditing May 4, 2026 

The IIA Calls for Stronger Governance, Internal Controls, and Independent Audit Requirements in Prediction Markets

The IIA’s recommendations draw upon globally recognized standards within its International Professional Practices Framework.

Featured Articles

April 16, 2026  

The IIA Enhances CIA Challenge Exam Program, Expanding Access Through New Pathway Pilot

February 27, 2026  

AICPA Seeks Public Comment on Proposed Updates to Attestation Standards

January 14, 2026  

PCAOB Punishes Zwick CPA, Firm’s Owner, and a Manager for Audit Gone Awry

December 19, 2025  

CPA Barred, Audit Firm Fined by PCAOB for Quality Control Issues

December 19, 2025  

PCAOB Fines Florida Audit Firm $35,000 Over Tardy Form AP Filings
AICPA Seeks Feedback on 2026-30 Strategic Priorities for Standard-Setting Panel

Auditing March 28, 2025 

AICPA Seeks Feedback on 2026-30 Strategic Priorities for Standard-Setting Panel

The Auditing Standards Board issues standards for auditing private companies, quality management standards for practitioners providing audit and attest services to private companies, and attestation standards.

Isaac M. O'Bannon

PCAOB Nails New York CPA Firm for Multiple Audit Failures

Auditing March 25, 2025 

PCAOB Nails New York CPA Firm for Multiple Audit Failures

James Pai CPA PLLC and its sole owner and partner Yu-Ching James Pai were fined a total of $40,000 for violating multiple PCAOB rules and standards in connection with the 2021 and 2022 audits of SUIC Worldwide Holdings.

Jason Bramwell

PCAOB Posts Educational Videos to Help Auditors Implement New Quality Control Standard

Auditing March 24, 2025 

PCAOB Posts Educational Videos to Help Auditors Implement New Quality Control Standard

The Public Company Accounting Oversight Board has released a series of three staff presentation videos focused on implementing the monitoring and remediation process under QC 1000, A Firm’s System of Quality Control.

Jason Bramwell

IIA Makes Recommendations on Development of Artificial Intelligence Action Plan

Auditing March 18, 2025 

IIA Makes Recommendations on Development of Artificial Intelligence Action Plan

The IIA emphasized the importance of establishing clear and measured safeguards governing AI applications, noting the significant impact the technology will have on Americans.

Isaac M. O'Bannon

Content-Audit1

Auditing March 17, 2025 

AICPA Names Creps New Chair of Auditing Standards Board

Catherine “Halie” Creps, a partner in KPMG’s Department of Professional Practice, will assume her duties at the end of May.

Isaac M. O'Bannon

PCAOB Releases New Resource for Auditors on Form AP

Auditing March 13, 2025 

PCAOB Releases New Resource for Auditors on Form AP

The Public Company Accounting Oversight Board posted the newest edition of its "Audit Focus" series, this time putting the spotlight on Form AP, which registered accounting firms are required to file to disclose key information specific to the audit.

Jason Bramwell

Ex-BF Borgers Partner’s Bad Auditing Judgment Results in $15,000 Fine From the PCAOB

Auditing March 12, 2025 

Ex-BF Borgers Partner’s Bad Auditing Judgment Results in $15,000 Fine From the PCAOB

Jaslyn Sellers was found by the PCAOB to have committed "significant audit failures" in her role as engagement partner in consecutive audits of NetSol Technologies Inc. for the fiscal years ended June 30, 2021, and June 30, 2022.

Jason Bramwell

Report Shows the Value of Strategy Plus Increasing Responsibility for Internal Audit Leaders

Accounting March 11, 2025 

Report Shows the Value of Strategy Plus Increasing Responsibility for Internal Audit Leaders

Internal audit functions that are more strongly aligned with overall organizational strategy are more likely to have sufficient funding.

Isaac M. O'Bannon

New Report Reveals the Value of Strategy Plus Increasing Responsibility for Internal Audit Leaders

Auditing March 10, 2025 

New Report Reveals the Value of Strategy Plus Increasing Responsibility for Internal Audit Leaders

Internal audit functions that are more strongly aligned with overall organizational strategy are more likely to have sufficient funding.

Isaac M. O'Bannon

The Institute of Internal Auditors Opens Third-Party Topical Requirement for Public Comment

Auditing March 6, 2025 

The Institute of Internal Auditors Opens Third-Party Topical Requirement for Public Comment

The Topical Requirements are a key element of The IIA’s broader International Professional Practices Framework, alongside the Global Internal Audit Standards and Global Guidance.

Isaac M. O'Bannon

PCAOB Quizzes Auditors on New Confirmation Standard

Auditing February 27, 2025 

PCAOB Quizzes Auditors on New Confirmation Standard

This latest knowledge check, or informal quiz, highlights various aspects of the new confirmation standard, which was approved by the PCAOB in September 2023.

Jason Bramwell

Being Uncooperative During an Inspection Lands Audit Firm Partner in Hot Water With the PCAOB

Auditing February 27, 2025 

Being Uncooperative During an Inspection Lands Audit Firm Partner in Hot Water With the PCAOB

Natalie Murphy, a now former audit partner at Heaton & Co., was censured and fined $50,000 by the Public Company Accounting Standards Board for violating U.S. auditing rules and standards, including failing to cooperate with an inspection.

Jason Bramwell

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