PCAOB Clears Backlog of Inspection Reports
After a leadership change in early 2022, the Public Company Accounting Oversight Board (PCAOB) has been much more active in …
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, …
PCAOB Rulemaking Could Lead to More Timely Issuance of Audit Inspection Reports
The Public Company Accounting Oversight Board on March 28, 2023, voted unanimously to issue a proposal that could in part …
Enron Former CFO: ‘I am one of the Poster Boys’ for Fraud
Convicted felon Andy Fastow, the infamous chief financial officer of Enron Corp., ironically said accounting and auditing rules need to …
As Problems in Global Audit Persist, SEC Chief Accountant Reminds Lead Auditors of their Responsibilities
Securities and Exchange Commission Chief Accountant Paul Munter urged lead auditors to do a better job when other accounting firms …
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 …
Investors Press Regulator to work on Audit Quality Indicators and Quality Control Rules at the Same Time
The Public Company Accounting Oversight Board’s (PCAOB) Investor Advisory Group (IAG) once again pressed the board to complete a slow-moving …
FASB to Issue One New Accounting Standard and Three Proposals This Quarter
The FASB plans to issue one new standard and three proposals by the end of this reporting quarter, according to …
SEC Seeks Candidates to Serve as PCAOB Member
The Securities and Exchange Commission on Feb. 7, 2023, said that it is seeking candidates to serve as a board …