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PCAOB Assesses Record Fine Against KPMG Netherlands for Exam Cheating and Cover-Up
Auditing
KPMG’s Netherlands unit was fined $25 million by the Public Company Accounting Oversight Board (PCAOB) over claims of exam…
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PCAOB Proposes New Reporting Requirements for Audit Firms
Auditing
The Public Company Accounting Oversight Board (PCAOB) voted to propose two new reporting requirements to impose on auditing…
Read More
Federal Agency Recommends Audits of AI Systems to Ensure Transparency and Accountability
Auditing
The U.S. Department of Commerce’s National Telecommunications and Information Administration (NTIA) released its AI…
Read More
PCAOB Continues to Ramp Up Enforcement
Auditing
In 2022 and 2023, the Public Company Accounting Oversight Board (PCAOB) intensified its enforcement efforts significantly…
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Report: SEC Increased Accounting and Auditing Enforcement in FY 2023 but Recovered Less Money
Accounting
The Securities and Exchange Commission (SEC) increased its accounting and auditing enforcement activity in fiscal year 2023,…
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PCAOB Inspection Reports Show Increase in Audit Deficiencies by Big Four Firms
Auditing
The U.S. units of three of the Big Four accounting firms had a greater deficiency rate in their audits of public…
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PCAOB Proposal Would Bar False or Misleading Statements by Auditors
Auditing
The Public Company Accounting Oversight Board (PCAOB) voted unanimously for a proposal to establish new restrictions on…
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PCAOB’s Sanctions Four Firms for Violations Involving Audit Committee Communications
Auditing
The Public Company Accounting Oversight Board (PCAOB) announced settled disciplinary orders that sanction four audit firms…
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SEC to File Brief in Major Case About Materiality of Audit Reports
Auditing
Do audit reports by outside accounting firms really matter? That’s the discomfiting question posed by The Wall Street…
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