SEC Planning to Loosen Auditor Independence Rules
On Monday, the SEC proposed changing the rules to keep auditor committees and auditors from spending time on "non-substantive" rule breaches.
Audit Woes in U.K. Hit KPMG’s 2019 Profit
The 14% decline in U.K. profits "follows a series of reputational setbacks for KPMG over the past two years."
Audits Are Broken. Here’s a Radical Way to Fix Them.
A certain federal agency should take over all public company audits, suggests a former Big Four auditor and current accounting software company CEO.
Watchdog Slams PCAOB Oversight of Big Four
“By failing to hold the Big Four accountable [for audit deficiencies], the board is putting all Americans’ financial futures in jeopardy.”
Audit Firms’ Problems Are Also Cultural
The SEC's case against KPMG demonstrates that sloppy audits and conflicts of interest aren't the only challenges the Big Four face.
KPMG to Restructure Audit Business in U.K.
The Big Four firm says it wants to "restore trust in audit" but a U.K. regulator indicates the changes don't go far enough.
U.K. Watchdog Calls for Audit Market Makeover
The Competition and Markets Authority stopped short of recommending the Big Four be broken up in response to a series of high-profile audit failures.
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."
Finance Function 2019: Fewer Functionaries, More Strategists
Heading into the new year, technology is starting to wipe out lower-level number crunchers in favor of mid-level team members focused on strategy.
Lessons on Auditing from Carillion’s Collapse
The sudden failure of U.K. construction firm Carillion exposes the limits of public company auditing and sparks discussion of reforms.
Do Big Four Auditors Unfairly Raise Fees?
The longer the tenure of a company's Big Four auditor, the greater the fee — even though the effort required of the auditor lessens over time.