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| March 24, 2023
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Audit Quality
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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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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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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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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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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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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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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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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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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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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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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