PCAOB Staff 2021 Inspections Preview Reports Rising Deficiencies
The PCAOB has issued Spotlight: Staff Update and Preview of 2021 Inspection Observations (Preview Report), a staff summary of the Board’s...
Scope Creep is Affecting Audit Committee Composition and Focus
The scope of the audit committee’s responsibilities continues to grow, and many committees are responding by expanding or changing their...
PCAOB Proposes to Modernize Confirmations
On December 20, the PCAOB issued for public comment a proposal to modernize its standard on the use of confirmations in audits. The...
What Should be on the Audit Committee’s 2023 Agenda?
At the beginning of each year, many accounting and consulting firms present their views on the issues on which audit committees should...
What Audit Committees Want – and Don’t Want -- from CFOs
What audit committees really want from CFOs, an article in the December 15 issue of Deloitte’s CFO Insights, lists seven things that...
SEC Reg Flex Agenda Update – April May be a Busy Month
On January 4, OMB’s Office of Information and Regulatory Affairs released the federal government’s Fall 2022 Unified Agenda of Regulatory...
Many Companies Plan to Invest in ESG Reporting During 2023
Deloitte has released Sustainability action report: Survey findings on ESG disclosure and preparedness, a report on the results of a...
PCAOB QC Proposal Could Impact Auditor/Audit Committee Relationship
On November 18, the Public Company Accounting Oversight Board proposed a new standard to strengthen and update the requirements for the...
Audit Committee Transparency Inches Ahead
On November 30, the Center for Audit Quality (CAQ) and research firm Audit Analytics (AA) released 2022 Audit Committee Transparency...
SEC Disclosure Enforcement is in High Gear
Both Securities and Exchange Commission Chair Gensler and Division of Enforcement Director Grewal have been vocal about the importance of...
Restatements Will Trigger Compensation Claw Backs Under New SEC Rule
On October 26, 2022, the Securities and Exchange Commission, by a 3-to-2 vote, adopted a rule that will require exchange-listed companies...
Sustainability Reporting Reaches an All-Time High, But Investors Have Qualms About the Content
In 2022 Sustainability Reporting in Focus, the eleventh annual edition of its research series tracking sustainability reporting trends,...
Academic Study Finds that Audit Committee Disclosures Don’t Meet Investor Needs
Audit committee transparency – disclosure that exceeds regulatory requirements about the audit committee and its work – has increased...
Audit Committees and Non-GAAP Measures–PWC’s Recommendations
Non-GAAP measures: The role of the audit committee is PWC’s primer for audit committees on non-GAAP measures, including suggested...
PCAOB Reports 2021 Target Team Observations
Since 2019, the Public Company Accounting Oversight Board’s annual inspections program has included a “target team.” The target team...
PCAOB Updates its Standard-Setting Agenda
In May, the Public Company Accounting Oversight Board released a new standard-setting and research project agenda. See PCAOB Announces...
EY’s Annual Cybersecurity Disclosure Analysis: Most Breaches Go Unreported
The EY Center for Board Matters (EY Center) has released How cyber governance and disclosures are closing the gaps in 2022, its annual...
AA’s 20-Year Review Finds Audit Fees are Rising Again
Audit Analytics (AA) has released Twenty-Year Review of Audit Fee and Non-Audit Fee Trends, its annual analysis of fees paid to external...
PCAOB Chair Has Advice for Audit Committees
On October 7, PCAOB Chair Erica Williams delivered remarks audit committee responsibilities at the University of California-Irvine’s...