AUDIT COMMITTEE AND AUDITOR OVERSIGHT UPDATE

Deloitte has published The Audit Committee Chair of the Future , a paper that explores the “emerging trends, challenges, and opportunities that are shaping the role of the audit committee chair.”  Deloitte interviewed audit committee chairs of S&P 500 companies from a range of industries.  Deloitte’s report “draws on their insights to provide practical guidance for navigating complexity and driving positive change.”  Below is a summary/overview of the paper.   ​The role of th

Fifty-five percent of directors think someone on their board should be replaced, up from 49 percent who wanted a fellow board member to depart in 2024.  That is one of the key findings of PwC’s 2025 Annual Corporate Directors Survey, Driving a culture of accountability in the boardroom .    PwC surveyed 638 directors. Seventy percent of the companies these directors represent have annual revenue of over $1 billion. Sixty-five percent of the respondents were men, and 32 percen

T wo surveys, one of individuals inside or with ties to public companies and the other of institutional investors, shed light on...

On August 28, the Public Company Accounting Oversight Board announced  that it was postponing the effective date of its new quality...

Autumn leaves are beginning to fall, but, on September 4, the OMB’s Office of Information and Regulatory Affairs released the Spring...

California’s climate disclosure requirements have cleared a major hurdle.  On August 13, the U.S. District Court for the Central District...

Securities Analytics Research (SAR), a data analytics company specializing in securities litigation risk, has published U.S. Securities...

The number of companies that received a going concern opinion for fiscal year 2024 fell to the second-lowest level in the past 20 years....

In What Backlash? ESG Reporting Continues to Grow , September-October 2024 Update , the Update observed that, based on reporting during...

The Public Company Accounting Oversight Board has issued Engagement Acceptance , a publication in the Board’s Audit Focus series. ...

The Anti-Fraud Collaboration (AFC), a group consisting of the Center for Audit Quality, the Financial Executives International, the...

Q2 Audit Committee Guide , a new publication from PwC’s Governance Insights Center, discusses nine topics that audit committees should...

KPMG has released Tariffs Uncertainty: Ask the right financial reporting questions .  The paper, which KPMG describes as “a briefing...

As discussed in The PCAOB Dodges the Bullet , June-July 2025 Update , legislation to merge the PCAOB into the SEC as part of the 2025...

On July 23, the Public Company Accounting Oversight Board released previously nonpublic portions of BDO USA’s 2019 inspection report ....

On July 16, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) withdrew its draft Corporate Governance Framework...

The Government Accountability Office (GAO) has issued a report on the costs of compliance with Section 404 of the Sarbanes-Oxley Act...

An academic study that will appear in a forthcoming issue of Contemporary Accounting Research finds that audit partners with...

PwC’s Governance Insights Center has released Oversight in the AI era: understanding the audit committee’s role .  The report discusses...