This morning, the Public Company Accounting Oversight Board (PCAOB) issued the 2018 inspection reports for the six largest U.S. audit firms: Deloitte, EY, KPMG, PwC, BDO, and Grant Thornton. These reports are delivered in a new, redesigned format – marking … Continue reading
Category Archives: Regulation Oversight
Accounting and Auditing Enforcement Releases (AAERs): Q3 and Q4 2019
The Securities and Exchange Commission (SEC) provides a list of certain enforcement actions related to financial reporting concerning administrative proceedings and civil lawsuits. These Accounting and Auditing Enforcement Releases (AAERs) are analyzed by Audit Analytics and key data points are … Continue reading
Changes to Auditor Independence Regulations: US vs. UK
Regulators in both the U.S. and the U.K. have recently debated changes to rules regarding auditor independence, with one big difference. In the U.S., the Securities and Exchange Commission (SEC) has proposed further loosening of auditor independence rules, while in … Continue reading
Seventeen Year Review of Audit Fee and Non-Audit Fee Trends
Audit Analytics has released its annual audit fees report, Seventeen Year Review of Audit Fee and Non-Audit Fee Trends, which focuses on the audit and non-audit fees paid and disclosed by accelerated and large accelerated filers over a seventeen-year period. A … 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
PCAOB Announces 2019-2023 Strategic Plan
On November 19th, the Public Company Accounting Oversight Board (PCAOB) approved its 2019-2023 Strategic Plan, as well as its fiscal 2020 budget of $284.7 million. The plan, which guides the PCAOB’s operations and serves as the foundation of the budget, … Continue reading
What Investors Need to Know About Audits
On Monday, November 4, 2019, the CFA Society of New York hosted What Investors Need to Know About Audits, a forum that focused on the state of today’s audit process, how it has and continues to change over time, and … Continue reading