On May 14, 2013, COSO released an updated version of its Internal Control – Integrated Framework. The original version, which was released in 1992, was superseded by the 2013 version – effective for fiscal years ended after December 15, 2014. … Continue reading
Monthly Archives: November 2018
PCAOB Announces 2018-2022 Strategic Plan
On November 15th, the Public Company Accounting Oversight Board approved its 2018-2022 Strategic Plan. “The Board’s adoption of the strategic plan and accompanying budget paves the way for fulfilling our shared vision for the PCAOB,” said PCAOB Chairman William D. Duhnke. … Continue reading
Auditor Market Share among Broker-Dealers
The Audit Analytics Broker-Dealer database contains information from over 84,000 focus reports filed by approximately 8,800 broker-dealers since January 1, 2001. Key data points collected include auditor, revenue, total assets, and contacts. In this post, we take a look at … Continue reading
SEC Registrants with Poor Cyber Controls
On October 16, 2018, the SEC’s Division of Enforcement issued an investigative report regarding cyber-related fraud’s effect on public company internal controls. The report reviewed nine cases in which public companies’ electronic communications were used to perpetrate fraudulent payments. All … Continue reading
2018 Audit Committee Transparency Barometer
Last week, the Center for Audit Quality released its fifth annual Audit Committee Transparency Barometer. Compiled and published with Audit Analytics, the Barometer provides a year-over-year comparison in key audit committee disclosure areas and assesses the extent of audit committee … Continue reading
Trends in Auditor Market Concentration in Select European Countries
When the European Union recently enacted sweeping regulation of the auditor market, requiring, among other things, auditor rotation at least every 20 years, one of the stated goals was to increase competition in the market. The hope was two-pronged: first, … Continue reading