PCAOB Schedules Meeting to Consider Proposing Set of Audit Quality Metrics
The Public Company Accounting Oversight Board (PCAOB) has scheduled a public meeting for April 9, 2024, to consider issuing a …
In Separate Actions, PCAOB Fines PwC US $2.75M and PwC Australia $600,000 for Quality Control Failures
In separate enforcement actions, the US Public Company Accounting Oversight Board (PCAOB) on March 28, 2024, fined PricewaterhouseCoopers LLP in …
Anonymous Audit Firm Sues PCAOB to Block ‘Excessively Intrusive and Burdensome’ Investigative Demand
An audit firm subject to a PCAOB investigation over the auditing of crypto assets on March 27, 2024, sued the …
‘John Doe’ Tennessee Accountant Challenges PCAOB’s Enforcement Powers
A Tennessee accountant facing a PCAOB disciplinary action on March 5, 2024, asked a federal court to halt the proceedings …
Proposal Would Prohibit Misleading Statements by Auditors About PCAOB Registration, Oversight
The Public Company Accounting Oversight Board (PCAOB) on February 27, 2024, voted unanimously to propose a new rule that would …
As Promised to Congress, PCAOB Schedules Roundtable on Proposal on Noncompliance With Laws and Regulations
Following a strong opposition by the auditing profession, public company management, lawyers, and Republican lawmakers on the Public Company Accounting …
PCAOB Fines WithumSmith+Brown $2M for Widespread Quality Control Failures in SPAC Audits
The PCAOB on February 21, 2024, said WithumSmith+Brown, PC was fined $2 million for widespread failures to comply with board …
Grim Outlook Predicted for Accounting Firms for Next Four Years—With Hope
The next four years will be much harder for accounting firms than the past four, and many are going to …
What Are the Consequences of Auditors Subject to Regulatory Enforcement Actions? Apparently Not Much
Many public company external auditors who were subject of SEC or PCAOB enforcement actions between 2003 and 2019 did not …
PCAOB to Expand Inspection Procedures in 2024
As part of the Public Company Accounting Oversight Board’s (PCAOB) efforts to enhance its audit inspections program under the leadership …