Study Finds Negative Impact on Audit Partners who Give Adverse Internal Control Opinions
As regulators review audit independence requirements to figure out whether the rules should be changed in order to promote auditor …
U.S. Audit Regulator Asks Court to Dismiss Suit by Accountant Challenging Disciplinary Proceedings
The U.S. Public Company Accounting Oversight Board (PCAOB) on April 14, 2023, filed a motion to dismiss a lawsuit brought …
IRS Spending Plan Elicits Mixed Reactions From Congress, Policy Groups
Following the release of the much-anticipated spending plan for how the IRS intends to deploy the $80 billion appropriation granted by the …
PCAOB Advisers Say Auditors May not be Fully Complying with Expanded Reporting Rule
During a public meeting last week, some Public Company Accounting Oversight Board (PCAOB) advisers said they are concerned that auditors …
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 …
Ex-SEC Commissioner Piwowar Suggests Cutting Commission Rulemaking from Legislative Reforms
Former SEC Commissioner Michael Piwowar on March 9, 2023, suggested Congress move forward with securities law reforms that do not …
Audit Committees are Increasingly Tasked with Additional Areas of Oversight, Survey Finds
The scope of a company’s audit committee’s oversight responsibilities continues to expand, according to a new report from Deloitte Development …
SEC Commissioner Hester Peirce Criticizes PCAOB’s ‘Ballooning’ Budget
Securities and Exchange Commissioner Hester Peirce in a statement criticized what she sees as the Public Company Accounting Oversight Board’s …
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, …