Accounting September 3, 2025
What Lease Accounting Teams Should Know About Critical Audit Matters
Because auditors are documenting CAMs related to lease accounting, lease accounting teams should understand what makes them so important.
Auditing August 28, 2025
PCAOB Postpones Effective Date of New Quality Control Standard by One Year
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.
Accounting August 7, 2025
AICPA News – August 2025
AICPA News is a round-up of recent announcements from the American Institute of CPAs.
Auditing July 23, 2025
PCAOB Revokes Hong Kong Accounting Firm’s Registration, Bars Managing Partner
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
Three Accounting Firms Got in Trouble for Breaking PCAOB Rules
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 June 25, 2025
PCAOB Permanently Bars Repeat Rule-Breaker
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
PCAOB Doles Out $8.5M in Total Fines to Most of the Big Four’s Dutch Affiliates for Exam Cheating
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
PCAOB Docks Heaton & Co. $35K, Partner $25K for Multiple Audit Failures
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.
Auditing May 21, 2025
PCAOB’s Latest ‘Audit Focus’ Explores Challenges of Auditing Accounting Estimates
Auditing accounting estimates is the topic of the latest edition of "Audit Focus," a series of PCAOB publications that aims to provide easy-to-digest information to auditors.
Auditing May 12, 2025
PCAOB Gives Auditors More Video Resources on New Quality Control Standard
The PCAOB has posted a brand-new set of staff presentation videos designed to help audit firms and auditors implement four areas of their quality control system under QC 1000, A Firm’s System of Quality Control.
Auditing April 23, 2025
PCAOB Punishes NYC-Based CPA Firm and Managing Partner For ‘Substandard Audit Work,’ QC Violations
Accounting firm Adeptus Partners was fined $75,000 and managing partner Howard Krant was sanctioned $50,000 on April 22 for breaking the rules during the audits of two technology companies.
Auditing April 22, 2025
PCAOB Adds New Resources on Quality Control Standard
The new set of staff presentation videos are designed to help audit firms implement four components of their quality control system under QC 1000, A Firm’s System of Quality Control.