PCAOB Proposes Expanded Auditor Responsibility for Financial Statement Fairness and Legal Compliance
The Public Company Accounting Oversight Board has issued two sets of proposed revisions to the public company auditing standards. These...
Accounting Class Actions are Increasing Slowly While SEC Accounting Cases are Skyrocketing
Cornerstone Research has issued two reports on litigation involving accounting and auditing violations. In its annual report on...
Commissioner Uyeda Discusses the SEC’s Focus on Accounting
In a recent speech, SEC Commissioner Mark T. Uyeda discussed the SEC’s focus on accounting violations. See Remarks at ICAEW Event –...
PCAOB Adds Audit Quality Indicators to its Short-Term Agenda
On May 16, the Public Company Accounting Oversight Board announced that its staff had posted to the Board’s website a revised...
Pointers on the Audit Committee’s Role in Ethics and Compliance Oversight
As part of its “On the audit committee’s agenda” series, the Deloitte Center for Board Effectiveness has released Who’s in charge: The...
Avoiding Awkward Silences: FRC Has Conversation Starters for Investor-Audit Committee Dialogue
The UK’s Financial Reporting Council (FRC) has announced the launch of a web page “aimed at promoting better engagement between investors...
If You Want Assurance Over Your ESG Disclosures, Hire a CPA
As corporate environment, social, and governance (ESG) disclosures have increased, more companies are seeking third-party assurance over...
SEC Chief Accountant Discusses Audit Committee Oversight of Other Auditors
SEC Chief Accountant Paul Munter has issued a statement in response to the increased use in audits of SEC reporting companies of...
COSO Issues Guidance on Internal Control Over Sustainability Reporting
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has published guidance on the application of its internal...
The SEC is Zeroing in on Disclosure Controls
The Securities Exchange Act Rule 13a-15 requires SEC reporting companies to maintain disclosure controls and procedures to ensure that...
CAQ’s Guide to Audit Quality Reports
Most large accounting firms publish reports describing how the firm seeks to maintain, promote, and strengthen audit quality. Since...
PwC Has Ten Items for Your Next Audit Committee Agenda
PwC’s Governance Insights Center has agenda suggestions for your next audit committee meeting. (Based on PwC’s list, it would be...
ISSB Prioritizes Climate Reporting and Defers Other Disclosures
On April 4, the International Sustainability Standards Board (ISSB) announced that companies that follow its standards will only be...
The Role of the Auditor in Climate Disclosure
A new Center for Audit Quality (CAQ) publication discusses the role that auditors can play in public company reporting of climate-related...
For Audit Partners, Adverse ICFR Opinions May be a Career Hazard
An academic study finds that an adverse opinion on the effectiveness of a company’s internal control over financial reporting (ICFR) may...
ESG Meets Disclosure Controls in an SEC Enforcement Action
On February 3, the Securities and Exchange Commission announced an administrative enforcement action against Activision Blizzard Inc....
SEC EPS Enforcement Initiative Bags Another Company
The SEC has brought another case as part of its initiative to uncover and prosecute accounting practices designed to manipulate earnings...
CAQ Publishes a Primer for Audit Committees on Digital Assets
The Center for Audit Quality has released Jumpstart Your Digital Assets Journey: A Tool for Audit Committees (Jumpstart). This...
IFAC Issues Third Report on ESG Disclosure and Assurance
The International Federation of Accountants (IFAC) and the Association of International Certified Professional Accountants (Association),...
ISSB Agrees in Principle on its First Two Standards
In 2021, the IFRS Foundation announced the formation of the International Sustainability Standards Board (ISSB) to develop a...