PwC and Deloitte Get High PCAOB Inspection Marks as EY and KPMG Lag in Comparison
Big Four accounting firms overall appear to be doing a good job of auditing public company’s financials, according to 2020 …
Lawmakers Grapple with Ramifications of Delisting Chinese Companies
Lawmakers during an October 26, 2021, House Financial Services subcommittee hearing mulled over the ramifications of delisting U.S.-traded Chinese companies …
AICPA Issues New Audit Standards on Risk Assessment
The AICPA’s Auditing Standards Board (ASB) on October 12, 2021, issued revised audit standards that enhance the requirements and guidance …
U.S. Audit Regulator Disciplines KPMG Australia for Cheating by its Auditors on Internal Tests
The U.S. audit regulatory board PCAOB said that KPMG Australia was fined for violating the board’s rules and quality control …
Gensler: Chinese Companies Will Face Trading Ban in 2024 if PCAOB is Unable to Inspect Their Auditors
Phil Swagel, the director of the Congressional Budget Office (CBO), on Sept. 2 published a blog post titled “The Effects …
China Audit Inspection Impasse Looms Large in Big Four Lobbying
The PCAOB’s inability to inspect the audits of U.S.-listed Chinese companies loomed large in the most recent round of lobbying …
Is SEC Making Audit Regulatory Board Too Political?
When SEC Chair Gary Gensler in early June 2021 abruptly fired embattled PCAOB Chairman William Duhnke and said all five …
AICPA Board Votes to Finalize Proposed Guidance on Auditors’ Use of Specialists
The AICPA’s Auditing Standards Board (ASB) voted to finalize a proposal that would give more guidance to auditors on the …
Rep. Brad Sherman on FASB, GameStop, Archegos, and China
As chairman of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee of the House Financial Services Committee, Rep. Brad Sherman …
SEC Staff is Playing Catch-Up Reviewing SPAC Filings
SPACs are everywhere these days. This also means the SEC’s disclosure review team is playing catch-up to make sure their …