Explainer: Can Musk’s DOGE Cut Staff at Accounting Firm Oversight Board?
Summary: The Trump administration is continuing with its efforts to shrink the size of the government, and the SEC has …
PCAOB Criticizes EY for Quality Control Issues Third Time in a Row; Finds Deficiencies at 4 Small Firms
The Public Company Accounting Oversight Board (PCAOB) criticized Ernst & Young LLP for failing to address quality control (QC) problems …
AICPA’s Auditing Board Plans to Issue 4 Standard-Setting Proposals in 2025
The AICPA’s Auditing Standards Board (ASB) is planning to publish four exposure drafts this year to seek comment on the …
Centralized Partnership Audit Regime Muddied by IRS Uncertainty, Expert Says
The future of the IRS’ plans and ability to enforce partnership tax compliance pursuant to now 10-year-old legislation is uncertain …
PCAOB Staff Is Making Rapid Progress on Subsequent Events Project
The Public Company Accounting Oversight Board (PCAOB) staff has been making progress on a mid-term standard-setting project related to subsequent …
PCAOB Investor Panel Calls for Better Critical Audit Matters; Will Seek Nominations for Best Disclosures
The Public Company Accounting Oversight Board (PCAOB) Investor Advisory Group (IAG) will again ask the public to nominate the most …
Texas Audit Firm’s PCAOB Challenge Is Dismissed Following the Closing of Investigation
A federal judge on January 7, 2025, dismissed a Texas audit firm’s lawsuit against the Public Company Accounting Oversight Board …
SEC Faces Dueling Requests From Auditors, Investors on PCAOB Rules Increasing Transparency
In comment letters, the accounting profession asked the Securities and Exchange Commission (SEC) to reject the Public Company Accounting Oversight …
PCAOB Chair: Inspectors Are Seeing ‘Significant Improvements’ in Audits by Largest Firms
Following troubling increase in audit deficiency rates in the past few years, Public Company Accounting Oversight Board (PCAOB) Chair Erica …
After Jarkesy, Three Auditor Suits Test the PCAOB’s Enforcement Powers
The PCAOB is facing the most concerted attack in years on its enforcement powers through a trio of lawsuits that …