Audit Quality

U.K. Proposes Reforms to Upgrade Audit Sector
Regulation

U.K. Proposes Reforms to Upgrade Audit Sector

“It's clear from large-scale collapses like Thomas Cook, Carillion and BHS that Britain's audit regime needs to be modernized."
By Matthew Heller | March 18, 2021
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Big Four Heading for Audit Shakeup in U.K.
Regulation

Big Four Heading for Audit Shakeup in U.K.

The U.K.'s accounting watchdog has asked the firms to submit a plan by Oct. 23 for separating their audit and consulting businesses.
By Matthew Heller | July 7, 2020
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U.K. Lawmakers Urge Full Breakup of Big Four
Risk & Compliance

U.K. Lawmakers Urge Full Breakup of Big Four

“The Big Four’s dominance has fostered a precarious market which shuts out challengers and delivers audits which investors and the public cannot rely on."
By Matthew Heller | April 3, 2019
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IFIAR Reports Decline in Audit Deficiency Rate
Auditing

IFIAR Reports Decline in Audit Deficiency Rate

While IFIAR says the audit deficiency rate “is trending downward on an overall basis," it urges firms to continue strengthening quality control systems.
By Matthew Heller | March 13, 2018
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PCAOB Fines Grant Thornton $1.5 Million
Workplace Issues

PCAOB Fines Grant Thornton $1.5 Million

Grant Thornton assigned two partners in its Philadelphia office to audits even though the firm had concerns about the quality of their auditing work.
By David Katz | December 20, 2017
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PCAOB Trying Different Tack in Selecting Audits
Risk Management

PCAOB Trying Different Tack in Selecting Audits

Among other things, the new approach will limit the ability of firms to predict which of their audits the PCAOB may select to inspect.
By Vincent Ryan | May 10, 2017
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Higher Pay for Auditors Leads to Fewer Restatements
Training

Higher Pay for Auditors Leads to Fewer Restatements

The more a Big Four firm pays its auditors, the fewer restatements its clients have, finds a new study.
By David Katz | April 27, 2017
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Disclosing Engagement Partner Improves Audit Quality
Risk & Compliance

Disclosing Engagement Partner Improves Audit Quality

It's especially so when audit committee members serve in the same role for other companies with the same audit-firm engagement partner, research finds.
By David McCann | December 22, 2016
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Five Accountants Charged With Audit Violations
Risk & Compliance

Five Accountants Charged With Audit Violations

The SEC alleges CPA Peter Messineo owned stakes in companies that the firm he worked for was auditing.
By Matthew Heller | December 14, 2015
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An Auditor Independence State of Mind
Human Capital Management

An Auditor Independence State of Mind

A Billy Joel favorite sparks thoughts of auditor independence.
By Jay Bornstein | April 14, 2015
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Declining Audit Fees Raise Risk of Restatements
Growth Companies

Declining Audit Fees Raise Risk of Restatements

When public companies pressure their auditors to reduce fees or they switch auditors to pay lower fees, audit quality can deteriorate, according to a study.
By Vincent Ryan | March 3, 2014
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