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 …
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 …
SEC Fines Deloitte China for Audit Failures
The U.S. Securities and Exchange Commission on Sept. 29, 2022, charged Deloitte Touche Tohmatsu Certified Public Accountants LLP in China …
The Long Read: What to Expect From a Freshly Funded IRS
With the IRS to receive long-sought additional funding under the Inflation Reduction Act (H.R. 5376), questions remain as to how the …
A Conversation with PCAOB Chair Erica Williams
Thomson Reuters recently had a conversation with U.S. Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams during a sunny …
Congress to Grill IRS Chief on Audits of Former FBI Officials
Congressional tax-writing committees will meet with the head of the IRS this month to glean information on the nature of …
AICPA Seeks Comment on Proposed Revisions to CPA Exam
As the AICPA is preparing to roll out a modernized CPA Exam in January 2024, the association issued a proposal …
Machine Learning May Improve Audit Efficiency, Study Finds
Adaptive algorithmic technology could help optimize audit sampling to better identify tax underreporting and close revenue gaps, according to a …
The Long Read: Auditing earned income
How the EITC’s complicated rules make low-income taxpayers targets for return audits More taxpayers than ever can claim the earned …
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 …