Audit Committee Chairs Worry about Accounting Staff Shortage
The Great Resignation was frequently mentioned as a topic of concern by public company audit committee chairs, according to a …
PCAOB Modernizes Audit Standard for Confirmation
The Public Company Accounting Oversight Board (PCAOB) on Sept. 28, 2023, voted unanimously to adopt a new standard that modernizes …
PCAOB Proposes Rule Revision to Increase Auditor Accountability
The Public Company Accounting Oversight Board (PCAOB) on Sept. 19, 2023, issued a proposal intended to more effectively deter auditor …
PCAOB Schedules Vote to Issue Proposed Rule on Contributory Liability for Audit Firm Violations
The Public Company Accounting Oversight Board (PCAOB) scheduled a public meeting for Sept. 19, 2023, to consider issuing a proposal …
Auditing and Accounting Boards Should Work Together to Have Common Going Concern Standard, Former PCAOB Chief Auditor Says
After working on and off for a decade on a standard-setting project to consider revising the auditor’s evaluation and reporting …
Considering an IPO? Time to Factor in FASB Public Company Accounting Rules
Some practitioners say they are cautiously optimistic that the initial public offering (IPO) market could pick up later this year, …
Deficiency Rates in Broker-Dealer Audits Increased in 2022, PCAOB Says
Rising deficiency rates in audits of broker-dealers “are a cause for significant concern,” the Public Company Accounting Oversight Board (PCAOB) …
PCAOB Faces Competing Requests in Revising Audit Requirements for Non-Compliance with Laws and Regulations
Judging by the unusually high number of comment letters the Public Company Accounting Oversight Board (PCAOB) has received—121 as of …
PCAOB Issues Five Inspection Reports, Including Grant Thornton’s
The PCAOB on July 18, 2023, published five inspection reports, including one on Grant Thornton LLP, that revealed failures to …
House Bill Would Require Yearly PCAOB Inspections for Audits of China-based Companies
A bipartisan House bill would again increase the frequency with which auditors of Chinese companies must be inspected by the …