“It's clear from large-scale collapses like Thomas Cook, Carillion and BHS that Britain's audit regime needs to be modernized."
In discussions with the PCAOB, audit committee chairs cited areas of auditor strengths and weaknesses.
Megan Zietsman, chief auditor and director of professional standards of the PCAOB, will replace Jim Kaiser, who is retiring.
A U.K. investigation found the Big Four firm liable for “serious and serial failures” in its audits of software firm Autonomy.
The new board is part of Deloitte's plan to implement U.K. regulatory changes after a series of high-profile audit failures at Big Four accounting firms.
The U.K.'s accounting watchdog has asked the firms to submit a plan by Oct. 23 for separating their audit and consulting businesses.
The current conditions of the COVID-19 pandemic have created a perfect storm for companies that are subject to an attack by short-sellers.
On Monday, the SEC proposed changing the rules to keep auditor committees and auditors from spending time on "non-substantive" rule breaches.
The 14% decline in U.K. profits "follows a series of reputational setbacks for KPMG over the past two years."
A certain federal agency should take over all public company audits, suggests a former Big Four auditor and current accounting software company CEO.
“By failing to hold the Big Four accountable [for audit deficiencies], the board is putting all Americans’ financial futures in jeopardy.”
The SEC's case against KPMG demonstrates that sloppy audits and conflicts of interest aren't the only challenges the Big Four face.
