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 …
Senate Democrats Push for PCAOB Inspection of Audits of Crypto Firms Acting as Broker-Dealers
Two Senate Democrats on Jan. 25, 2023, pressed PCAOB Chair Erica Williams on whether the board will inspect auditors of …
Congress Passes Bill to Fund Government, Turns Up Pressure on Chinese Auditors
Congress on Dec. 23, 2022, passed a $1.66 trillion government spending bill and avoided a partial government shutdown. And included is a …
SEC Commissioner Hester Peirce Criticizes PCAOB’s ‘Ballooning’ Budget
Securities and Exchange Commissioner Hester Peirce in a statement criticized what she sees as the Public Company Accounting Oversight Board’s …
PCAOB Issues Second Proposal to Modernize Rules on Audit Confirmation Process
More than a dozen years after the Public Company Accounting Oversight Board (PCAOB) issued a rule proposal on audit confirmations, …