Auditing March 10, 2025
Internal audit functions that are more strongly aligned with overall organizational strategy are more likely to have sufficient funding.
Auditing February 27, 2025
This latest knowledge check, or informal quiz, highlights various aspects of the new confirmation standard, which was approved by the PCAOB in September 2023.
Auditing February 27, 2025
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.
Auditing February 26, 2025
Total monetary penalties levied by the Public Company Accounting Oversight Board set a new record for the third consecutive year in 2024 as the number of enforcement actions reached levels not seen since 2017, according to a new report released on Feb. 26 by Cornerstone Research.
Auditing February 13, 2025
The Public Company Accounting Oversight Board has posted a new series of knowledge checks designed to help auditors gauge their understanding of important aspects of the regulator's new quality control standard, QC 1000, A Firm’s System of Quality Control.
Auditing February 12, 2025
For the fourth straight year, cybersecurity is the No. 1 priority for audit committees at public companies, outside of financial reporting and internal controls, according to survey findings released on Feb. 12 by the Deloitte Center for Board Effectiveness and the Center for Audit Quality.
Auditing February 12, 2025
The Public Company Accounting Oversight Board on Feb. 11 filed a notice with the SEC to withdraw its new standard on audit firm reporting of standardized firm and engagement metrics for approval—a victory for those that opposed the rules, including many of the largest accounting firms in the U.S. and the AICPA.
Accounting February 5, 2025
The Cybersecurity Topical Requirement provides a baseline approach for internal audit functions when they assess cybersecurity as an audit topic or if cybersecurity is identified as a risk within other audits.
Firm Management October 10, 2023
A new survey conducted by Protiviti and The Institute of Internal Auditors (IIA) reveals which risks are keeping IT auditors up at night.
Accounting September 28, 2023
The practice aid is among numerous resources the AICPA provides to help firms successfully implement the QM standards.
Auditing September 26, 2023
BDO USA was fined $2 million and two of the firm’s partners were fined a total of $60,000 for failures in the 2017 audit of AAC Holdings.
Auditing September 20, 2023
However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% in the U.S.