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 …
Former Senior Officer Sues PCAOB for Wrongful Termination
Sue Lee, formerly a senior officer at the PCAOB, filed a lawsuit against the audit regulatory board and its Chairman …
Racial Slur Propels GASB to Mull Renaming Comprehensive Annual Financial Report
By Denise Lugo The GASB added a project this month to its agenda to consider renaming the Comprehensive Annual Financial …