The Public Company Accounting Oversight Board has signed a cooperative agreement with the Irish Auditing and Accounting Supervisory Authority, allowing them to cooperate on joint inspections and oversight of auditing firms subject to of both organizations’ regulatory jurisdiction.
A prominent investor group is applauding the Securities and Exchange Commission’s approval this week of the Public Company Accounting Oversight Board’s new standard expanding the scope of the audit report.
The number of audit deficiencies tied to fair value measurements is still high, but declined for the second year in a row, according to a new analysis of Public Company Accounting Oversight Board inspection reports on auditing firms.
The confidence of U.S. investors in the U.S. capital markets reached a record high this year, according to an annual survey by the Center for Audit Quality, with high confidence expressed in auditors and audited financial statements.
Grant Thornton CEO Mike McGuire is moving his firm to become a more streamlined organization better able to respond to technological change than the Big Four, similar to the way Tesla has challenged the Big Three automakers.