Audit preparation

The U.S. regulator overseeing auditors was rocked by criminal charges as federal prosecutors accused three former employees of leaking inside information to KPMG LLP so it could improve its audit results.

The Securities and Exchange Commission charged six CPAs Monday who were former senior officials at KPMG and ex-staffers at the Public Company Accounting Oversight Board with participating in a scheme to misappropriate and misuse information on the PCAOB’s planned inspection of the Big Four firm.

Increases in audit fees for public companies and nonprofits slowed down in 2016, according to a new report, although private companies saw an uptick in their fee increases during the 2016 audit season.

The board’s staff are offering additional information on determining auditor tenure.

The Public Company Accounting Oversight Board said Wednesday it has imposed a $1.5 million civil penalty against Grant Thornton LLP and censure the firm for violations of quality control standards and for audit failures.

The American Institute of CPAs has released a new guide to data analytics to familiarize CPAs with the technology.

The cloud-based OnPoint software will help firms with preparation, compilation and review engagements.

The American Institute of CPAs’ Auditing Standards Board has released three exposure drafts proposing ways to improve the usefulness of the auditor’s report, in response to recent standards from the Public Company Accounting Oversight Board and the International Auditing and Assurance Standards Board.

In Q3 2017, the Big Four firm is in the lead for the second quarter in a row.

Auditors face a special dilemma when it comes to determining if a client can continue, says Stephen Franciosa.

The major firms are leveraging the latest tools to make the auditing process more efficient.

The Public Company Accounting Oversight Board is finding many of the same problems at auditing firms during its most recent inspections that it has admonished firms for in the past, according to a new report.

Audit committees are providing investors with more information about their outside auditing firms, according to a new report.

The solution is an add-on to the company’s Connected Risk platform.

The Big Four firm plans to begin offering auditing technology next week to smaller accounting firms through a new venture.

Companies and their auditors are getting ready for the Public Company Accounting Oversight Board’s new audit reporting model, despite uncertainty over whether the Securities and Exchange Commission will approve the new standard.

South Africa’s auditing regulator said KPMG LLP’s local unit hasn’t fully cooperated with the body’s investigations into work done for the Gupta family, who are alleged to have used political connections to win state contracts.

Today we’re celebrating #AuditorProud—a day when we reflect across our industry about the important work of public company auditors.

The Public Company Accounting Oversight Board released a document Wednesday offering information about the main areas its inspectors are looking at during its visits to auditing firms this year.

The U.S. Chamber of Commerce and a group of 27 other major corporations and business trade associations have sent a letter to the Securities and Exchange Commission urging the SEC not to finalize the Public Company Accounting Oversight Board’s proposed changes to audit reports.