Audit Regulatory Board Mum on Bank Failures as Critics Question Clean Audit Opinion for Silicon Valley Bank
For now, the Public Company Accounting Oversight Board (PCAOB) will not publicly address recent bank collapses, triggered by the abrupt, …
Recent Bank Failures May Indicate Problems with Going Concern Standards, Liquidity Risk Disclosure Rules
By now almost everyone knows that Silicon Valley Bank (SVB), which largely lent to tech companies, failed almost overnight on …
AICPA Digital Asset Reporting Guide Punts on Lending Transactions
A working group of the AICPA—which develops a practice aid related to crypto accounting—decided not to directly address a recent …
PCAOB Issues Second Proposal to Modernize Rules on Audit Confirmation Process
More than a dozen years after the Public Company Accounting Oversight Board (PCAOB) issued a rule proposal on audit confirmations, …
With a New Sheriff in Town, Experts Weigh in on Strengthened PCAOB Enforcement
One of the Public Company Accounting Oversight Board’s (PCAOB) new strategic goals under Chair Erica Williams’s leadership is to step …
Audit Deficiencies Increased, 2021 PCAOB Inspections Find
The Public Company Accounting Oversight Board (PCAOB) said that accounting firms should do a better job of auditing their clients’ …
U.S. Audit Regulator Sanctions Three Foreign KPMG Affiliates
The U.S. Public Company Accounting Oversight Board (PCAOB) on Dec. 6, 2022, said that three firms and four individuals affiliated …
Regulator Proposes Sweeping Reforms to Quality Control Standards for Audit Firms
The Public Company Accounting Oversight Board (PCAOB) on Nov. 18, 2022, voted unanimously to issue a proposal that would impose …
Companies Already Have Implementation Questions on SEC’s New Pay vs. Performance Rule
The Securities and Exchange Commission’s Division of Corporation Finance (CorpFin) staff has already been getting implementation inquiries about the commission’s …
SEC Acting Chief Accountant Urges Auditors to Step Up in Detecting Corporate Fraud
Securities and Exchange Commission Acting Chief Accountant Paul Munter issued an Oct. 11, 2022, public statement, urging auditors to do …