Big Four Firms are Leaving Russia, But Audit Business was Already Limited
Large American accounting firms that have affiliates in Russia said they are leaving or severing ties because of unprovoked armed …
Senate Bill Would Create SEC-Led Database of Securities Law Violators, Other Offenders
Sen. John Kennedy, a Louisiana Republican, on March 1, 2022, introduced legislation to create an SEC-overseen database of individuals convicted …
U.S. Audit Regulator Sanctions PwC Canada for Widespread Employee Cheating on Internal Tests
The U.S. Public Company Accounting Oversight Board (PCAOB) fined PricewaterhouseCoopers LLP Canada US$ 750,000 for having faulty quality control standards …
Trading Ban Acceleration Passes House in China Competition Bill
The House on February 4, 2022, voted 222 to 210 to pass a sweeping bill designed to strengthen U.S. economic …
PCAOB Seeks Candidates for New Advisory Groups
The PCAOB on January 31, 2022, said that it is forming two advisory groups: the Investor Advisory Group (IAG) and …
PCAOB Elimination Bill Draws Big Four Lobbying Attention
A House Republican bill that would dissolve the PCAOB and fold its functions into the SEC became the subject of …
SEC Has Over 50 Rulemaking Projects, but a ‘Phenomenally Important’ One is Missing
There is no doubt that SEC Chair Gary Gensler’s near-term rulemaking agenda is ambitious with over 50 items. But there …
SEC Investor Advocate Urges New PCAOB to Reinstitute Investor Advisory Group
The SEC’s Office of the Investor Advocate in a report encouraged the PCAOB to reinstitute “a meaningful investor advisory group …
PCAOB Issues Report on China, Hong Kong Determinations under Holding Foreign Companies Accountable Act
The PCAOB on December 16, 2021, issued a report relaying to the SEC its determinations that the board is unable to …
PCAOB’s 2022 Budget is Set to Increase 8 Percent to $310.3 Million
The PCAOB on November 23, 2021, voted 3 to 0 to approve its 2022 budget of $310.3 million, an increase …