ICFR

Audit Fees Rise Only 2.5%, But Audits Require Greater Effort
Auditing

Audit Fees Rise Only 2.5%, But Audits Require Greater Effort

Acquisitions, as well as changes to issuer structures and internal controls, made external audits more work in 2021.
By Vincent Ryan | November 9, 2022
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Ex-EY Partner Sanctioned Over Inadequate Audit
Risk & Compliance

Ex-EY Partner Sanctioned Over Inadequate Audit

The PCAOB says William Trainor improperly concluded he did not have to issue an adverse ICFR opinion for Forest Oil.
By Matthew Heller | June 7, 2019
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SEC Approves Audit Exemption for Smaller Firms
Regulation

SEC Approves Audit Exemption for Smaller Firms

Requiring smaller companies to have their internal controls audited "may not be an efficient way of benefiting and protecting investors."
By Matthew Heller | May 9, 2019
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SEC Accuses Four Firms of ICFR Deficiencies
Risk & Compliance

SEC Accuses Four Firms of ICFR Deficiencies

The companies allegedly failed to remedy material weaknesses in their internal controls over financial reporting for seven to 10 consecutive years.
By Matthew Heller | January 30, 2019
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Audit Fees Rise Again
Financial Reporting

Audit Fees Rise Again

Audit fees increased by a median of 3.2% in 2015, but the largest filers are keeping a lid on costs by improving internal controls.
By Sean Allocca | December 2, 2016
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Risky Business: SEC Focuses on Internal Controls
Risk & Compliance

Risky Business: SEC Focuses on Internal Controls

A decline in accounting fraud has freed up time for SEC staff to prioritize internal controls over financial statements.
By Howard Scheck | November 16, 2016
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SEC Faults Magnum Hunter’s Internal Controls
Risk & Compliance

SEC Faults Magnum Hunter’s Internal Controls

The oil company's former CFO failed to identify staffing problems in its accounting department as a material weakness, the SEC says.
By Matthew Heller | March 14, 2016
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