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 …
Internal IRS Guidance Explains How to Audit Partner Liquidating Distributions
IRS Large Business & International (LB&I) has released an updated Practice Unit on issues related to liquidating distributions of a …
Former PCAOB Advisers Urge SEC Chair Gensler to Reform Audit Regulatory Board
A dozen former members of the PCAOB’s now-abolished Investor Advisory Group (IAG) urged new SEC Chair Gary Gensler to restore …
As PCAOB Seeks New Adviser Nominations, Some Criticize Advisory Group’s Charter
The audit regulatory board—the PCAOB—is currently soliciting nominations for its new Standards Advisory Group (SAG) established last month, but some …