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.
‘Opinion-Shopping’ Compromises Auditor Independence
While it may serve the interests of struggling companies, shopping for a favorable audit opinion lessens auditor independence and audit quality.
Audit Committees Warned on Meeting with PCAOB
When the PCAOB asks to speak with an issuer's audit committee, it "may be a gateway to enforcement activity," note attorneys from Stinson Leonard Street.
Accounting Watchdog Finds Ongoing Problems at KPMG
The PCAOB’s criticism came in its 2017 inspection report for the firm.
SOX 404(b) Provides Investor Value After All
Study results contradict critics who are trying to water down the Sarbanes-Oxley requirement for auditing internal controls over financial reporting.
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.
What Is a Critical Audit Matter?
How does an auditor figure out whether a matter involves especially "challenging, subjective, or complex judgment?"
Deloitte Turkey Execs Banned for Audit Rigging
The case alleging two former senior partners failed to stop the alteration of documents "exemplifies the deep ethical rot in auditing today."
PCAOB Questions Its Own Relevance
The audit overseer is seeking help in identifying "the most promising opportunities to enhance the PCAOB's relevance to the capital markets."
SEC Charges Foreign Affiliates of KPMG, Deloitte, and BDO
The foreign firms participated in audits that skirted the full oversight of the Public Company Accounting Oversight Board.
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.