The Public Company Accounting Oversight Board is seeing some improvements in audits of internal control over financial reporting, but also some contradictory findings. In a speech last week during the ...
The Public Company Accounting Oversight Board has proposed a set of significant changes in the requirements for auditing firms' quality control systems, in a major update from the earlier standards in ...
The PCAOB released a new staff report designed to help audit firms remedy quality control issues cited in inspections. The report features advice for firms facing remediation following findings of ...
Reoccurring PCAOB findings with an increasing deficiency rate, in 2020, 2021, and 2022, included revenue, business combinations, and inventory. 2 Critical audit matters (CAMs) and audit committee ...
The PCAOB recently noted that during 2019 it will provide an opportunity for audit committee chairs of certain companies whose audits are subject to inspection to “engage in a dialogue with the ...
Modest improvements in the audits of broker-dealers do little to absolve the need for firms to evaluate how they can enhance their systems of quality control, according to the latest figures from the ...
A new staff report issued by the Public Company Accounting Oversight Board (PCAOB) seeks to provide best practices for auditors amid observations of rising deficiency rates related to engagement ...
The crux of the SEC’s interpretive guidance for management is a top-down, risk-based approach that puts risk first and foremost. Four key areas of opportunity can be used to reduce an organization’s ...
Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. A recent study published in Contemporary Accounting Research ...
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