Grim Outlook Predicted for Accounting Firms for Next Four Years—With Hope
The next four years will be much harder for accounting firms than the past four, and many are going to …
Fund Manager Asks SEC to Write Rule for Disclosure of Revenues From Tobacco
The Securities and Exchange Commission (SEC) already has a jam-packed rulemaking agenda planned for this year, altogether about three dozen, …
Divided SEC Approves Significant 2024 Budget Increase for PCAOB
The Securities and Exchange Commission (SEC) by a vote of 3 to 2 on December 13, 2023, decided to approve …
Gensler Defends SEC Staff Accounting Bulletin on Crypto After GAO Report Deems it a Rule
Securities and Exchange Commission (SEC) Chair Gary Gensler once again defended the controversial Staff Accounting Bulletin (SAB) No. 121 on …
Accounting Profession Not Just About Closing Books and Issuing Reports, Chief Accountants Say
The accounting profession is not just about closing books and producing annual and quarterly reports but about bringing value to …
SEC Enforcement Chief: Pending Supreme Court Case on In-House Proceedings Will Not Pause Charges Against Accountants
The Securities and Exchange Commission (SEC) will not hesitate to file charges against accountants and auditors in district courts instead …
PCAOB Modernizes Audit Standard for Confirmation
The Public Company Accounting Oversight Board (PCAOB) on Sept. 28, 2023, voted unanimously to adopt a new standard that modernizes …
PCAOB Proposes Rule Revision to Increase Auditor Accountability
The Public Company Accounting Oversight Board (PCAOB) on Sept. 19, 2023, issued a proposal intended to more effectively deter auditor …
PCAOB Schedules Vote to Issue Proposed Rule on Contributory Liability for Audit Firm Violations
The Public Company Accounting Oversight Board (PCAOB) scheduled a public meeting for Sept. 19, 2023, to consider issuing a proposal …
Cornerstone Research’s Elaine Harwood on Trends in PCAOB, SEC Accounting and Auditing Enforcement Actions
The number of SEC accounting and auditing enforcement actions rose by 55 percent in fiscal 2022 – with jumps in …