EY Sees Barriers to Use of Big Data for Audits
Not only are there technological obstacles, but there is also no definitive guidance on what data should be made available to auditors.
An Auditor Independence State of Mind
A Billy Joel favorite sparks thoughts of auditor independence.
PCAOB Preparing New Rule for Audits of Accounting Estimates
The PCAOB staff plans to discuss auditors’ responsibilities for accounting estimates with the Standing Advisory Group in June.
Firm Accused of Auditor Independence Violations
A partner at L.L. Bradford failed to monitor partner assignments, leading to auditor rotation violations in six public company audits, says the PCAOB.
Most Internal Auditors See Role Becoming More Strategic
But only 11% of chief audit executives see their current internal audit function as providing value-added services and proactive advice.
Nearly Half of Public Company Audits Found Defective
Audit deficiencies were most prevalent in internal controls, fair value measurement, and revenue recognition, says the IFIAR.
Unfriendly Persuasion by CFOs Could Spur Faulty Audits
Caught between the need to serve clients and the requirement to be skeptical of them, auditors may stint on audit quality.
SEC Questions PCAOB’s Focus on Disclosure
If that emphasis is at the expense of PCAOB rule-making, “those priorities need to be re-examined," the SEC's chief accountant says.
Are Audit Committees Overworked?
The risk environment is clearly straining many audit committee agendas, finds a KPMG survey.
Another Look at Auditor Nightmares
The PCAOB will take a second crack at a proposal to require an auditor to reveal the thinking behind troublesome audit opinions.
Audit Fees for Public Companies Up 4.5%
The impact of PCAOB inspections contributed to the rising cost of public-company audits, finds an FEI study.