PCAOB Adopts Pared Back Engagement Performance Metrics and Audit Firm Reporting Rules
On November 21, the Public Company Accounting Oversight Board adopted rules that will require registered accounting firms to disclose...
PCAOB Puts NOCLAR on Hold but Reminds Auditors of Their Illegal Acts Responsibilities
On November 15, Accounting Today reported that the PCAOB will not take further action this year on its controversial proposal to...
SEC Sanctions Four Companies for Misleading Solar Winds Breach Disclosures
The Securities and Exchange Commission has filed enforcement actions against four companies alleging that each made misleading...
CAQ and IAA: Companies are Saying More About Their Board’s Cyber and ESG Expertise
The Center for Audit Quality (CAQ) and Ideagen Audit Analytics (IAA) have released Audit Committee Transparency Barometer 2024 (...
Deloitte Has Suggestions for Audit Committee Support of the New Internal Audit Standards
Deloitte’s Center for Board Effectiveness has released Governing a relevant, effective, and valued internal audit function , a...
SEC Charges that Personal Friendship with an Executive Undermined Director’s Independence
The SEC has charged James R. Craigie, a former director of consumer goods packaging manufacturer Dwight & Church Co., Inc., with...
PCAOB Releases 2020 Criticisms of Grant’s Quality Control
On October 24, the Public Company Accounting Oversight Board released three previously nonpublic portions of Grant Thornton’s 2020...
California Tweaks its Climate Disclosure Law But Reporting Deadlines are Unchanged
The California legislature has passed, and Governor Newsom has signed, Senate Bill 219 , which makes minor changes to California’s...
EY: Cybersecurity Disclosure Continues to Grow Along with Cyber Risks
The largest U.S. companies are disclosing more information about cybersecurity. That is the central finding of the 2024 edition of the EY...
PCAOB Investor Advocate Issues a Bulletin on Engagement with Audit Committees
The Public Company Accounting Oversight Board’s Office of the Investor Advocate (OIAD) has issued an Investor Bulletin ( OIAD Bulletin )...
RSM Finds Middle Market Companies Preparing Cautiously for ESG Rules
According to an RSM survey, 75 percent of mid-sized companies have begun preparing to implement climate-related regulations. But a...
SEC Charges Audit Committee Chair with Fraud
The SEC seldom charges audit committee members in cases alleging company accounting or disclosure violations. However, SEC v. Joshua A....
PCAOB Spotlight on Independence Deficiencies Includes Advice for Audit Committees
The staff of the Public Company Accounting Oversight Board has issued Spotlight: Inspection Observations Related to Auditor Independence...
PCAOB Files More Audit Committee Communications Cases
On September 24, the Public Company Accounting Oversight Board announced settled disciplinary proceedings against four audit firms for...
CAQ Finds that 92 Percent of Institutional Investors Rely on CAMs
A survey of 100 institutional investors conducted by KRC Research for the Center for Audit Quality finds that 92 percent of respondents...
2023 PCAOB Target Team Report: Crypto, Multi-Location Audits, and Significant Transactions
The Public Company Accounting Oversight Board has released Spotlight: Observations From the Target Team’s 2023 Inspections . The Board’s...
What Backlash? ESG Reporting Continues to Grow
Over the past ten years, U.S. public company sustainability, or environmental, social, and governance (ESG), reporting has moved from a...
CAQ Surveys Audit Committee Members and Investors on Engagement Performance Metrics
In April, the Public Company Accounting Oversight Board issued for comment two proposals that would significantly expand the disclosures...
Its Enforcement Task Force is Gone, but the SEC is Still Bringing ESG Cases
In 2021, the SEC announced the formation of a task force in the Division of Enforcement “to proactively identify ESG-related misconduct.”...