SEC Approves PCAOB’s New Audit Confirmation Standard
The SEC has approved the PCAOB’s new standard that modernizes the auditor’s confirmation process, stating that it is “necessary or …
US Regulator Fines Chinese Auditors $7.9M
A year after the US Public Company Accounting Oversight Board (PCAOB) was able to inspect Chinese and Hong Kong audit …
PCAOB’s 2024 Budget is Set to Increase 11%
The Public Company Accounting Oversight Board (PCAOB) on November 16, 2023, voted unanimously to approve its 2024 budget of $384.7 …
Auditors Gear Up for Fight as PCAOB Brings Back Critical Audit Matters to Research Agenda
Some of the key players in the auditing profession are already gearing up for a potential standard-setting fight on the …
PCAOB Slows Down Standard-Setting and Rulemaking Activities
Except for one rulemaking item regarding follow-on disciplinary proceedings, the Public Company Accounting Oversight Board (PCAOB) has pushed back the …
Dissatisfied with Critical Audit Matter Disclosures, Advisers Recommend Changes to PCAOB to Improve Reporting
The Public Company Accounting Oversight Board’s (PCAOB) Investor Advisory Group (IAG) presented a set of recommendations to improve auditors’ reporting …
PCAOB Enforcement is Continuing to Flex its Muscles
It is no secret that—under the leadership of Erica Williams—the PCAOB has been aggressive in pursuing enforcement actions to better …
PCAOB Report Notes ‘Troubling’ Deficiency Rate in Audit Engagement Quality Reviews
The PCAOB on Oct. 12, 2023, issued a staff report to urge engagement quality reviewers to do a better job …
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 …