Sustainability Assurance is the New Expectations Gap
Companies frequently obtain third-party assurance over portions of their sustainability reporting, and sustainability reporting rules...
PCAOB Proposes Engagement Metrics and Audit Firm Operational and Financial Reporting
On April 9, the Public Company Accounting Oversight Board issued for public comment two proposals that would significantly expand the...
Why Are Accounting Errors Increasing? Glass Lewis Has Answers and a Warning for Audit Committees
Accounting-related class actions and regulatory enforcement cases increased in 2023 (see Cornerstone: Accounting Class Actions and...
PCAOB Discloses Non-Public Portions of 2018 and 2019 KPMG Inspection Reports
The Public Company Accounting Oversight Board has made public several previously nonpublic portions of KPMG’s 2018 and 2019 inspection...
Cornerstone: Accounting Class Actions and Enforcement Cases Continue Their Upward Trend
Cornerstone Research has issued three reports on litigation involving accounting and auditing violations. Together, these reports...
SEC Puts its Climate Disclosure Rules on Hold
The SEC has issued an order staying its rules requiring public companies to disclose certain climate-related information, including...
EY Has Q1 Suggestions for Audit Committees
The EY Center for Board Matters (EY Center) has issued How audit committees can prepare for 2024 Q1 reporting.  The EY Center’s paper...
Who Audits Public Companies? Mostly Ten Firms
Ideagen Audit Analytics (AA) has released its annual analysis of the market for public company auditing. 2024 who audits public...
Cybersecurity and ERM Are Top Audit Committee Priorities. ESG, Not So Much
The Center for Quality (CAQ) and the Deloitte Center for Board Effectiveness have released their third annual survey of audit committee...
Ceres Advocates Climate Disclosure Reasonable Assurance
Ceres, a nonprofit organization that works with capital market leaders to address sustainability challenges, has released Closing the...
SEC Chief Accountant Calls on Auditors to Improve and on Audit Committees to Be Proactive
Earlier this year, the PCAOB announced that approximately 40 percent of the audits inspected in 2022 will have one or more deficiencies...
More Audit Reports Contain CAMs, But There are Fewer CAMs Overall
Ideagen Audit Analytics (IAA) has released Critical Audit Matters: A 3-Year Review 2020-2022, a study of critical audit matters (CAMs)...
PCAOB Charges Four More Firms with Audit Committee Communications Violations
On February 20, the Public Company Accounting Oversight Board announced settled disciplinary proceedings against four audit firms for...
Large Companies Worldwide Continue to Expand Their ESG Disclosure and Assurance
ESG reporting is almost universal among the world’s largest companies, and third-party assurance over ESG disclosures is becoming the...
EY on SEC Priorities for 2024
In last month’s Update, What Should be on the Audit Committee’s 2024 Agenda?, January 2024 Update lists accounting and consulting firm...
Your Controller is Probably Making Lots of Accounting Mistakes
A survey of corporate controller employees by consulting firm Gartner found that 18 percent of accountants make financial errors at least...