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 …
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 …