The COVID-19 pandemic continues to affect nearly everyone worldwide, causing widespread economic disruption. While certain provisions and leniency have been granted in regards to financial reporting, some markets have experienced unanticipated effects – including the capital market, and more specifically, … Continue reading
Category Archives: Regulators & Public Policy
SEC and PCAOB Offer Further COVID-19 Guidance
As we enter another week of uncertainty surrounding COVID-19 and its unquantifiable impacts, it’s becoming increasingly evident that no one knows what to expect. This is especially true for companies and businesses, as well as auditors. Fortunately, U.S. regulatory authorities … Continue reading
A Summary of FRC’s Developments in Audit 2019
On November 5, 2019, UK’s Financial Reporting Council (FRC) released its Developments in Audit 2019 survey to highlight the Council’s audit monitoring and enforcement results for the previous year. Included in the report are some observations on the current audit market … Continue reading
An Overview of KAMs in the European Banking Sector
Accountancy Europe has performed its second annual survey on the auditor’s reporting of key audit matters (KAMs) in the European banking sector since KAMs became required by EU law and international standards in 2017. One of the main goals of … Continue reading
2019 Audit Committee Transparency Barometer
On November 6, 2019, the Center for Audit Quality (CAQ) released its sixth annual Audit Committee Transparency Barometer. Compiled and published in partnership with Audit Analytics, the Barometer measures the content of proxy statement disclosures year-over-year in certain key areas … Continue reading
CMA Releases Final Report on the Statutory Audit Market
Last week, the Competition & Markets Authority (CMA) released its final report, concluding its investigation into the UK audit market. The report recommended some major reforms “to address serious competition problems in the UK audit industry”. The study, which was … 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