Audit preparation

The Public Company Accounting Oversight Board staff report offered insights into the PCAOB's inspection program for auditors of broker-dealers and issues with professional skepticism and low-ball fees.

The commoditization of audits is contributing to the CPA shortage.

The Public Company Accounting Oversight Board also permanently barred a sole practitioner in New York.

In the year since a $5 billion accounting fraud scandal erupted at his former company, the Rio de Janeiro native has relocated to Spain while Brazilian investigators continue their probe.

If CFOs, controllers and other finance leaders implement a handful of straightforward best practices before, during and after an audit, they can maximize efficiency and insight for everyone involved.

The board's target team shared the results of its in-depth exploration of emerging audit risk.

The board released a staff report outlining its inspections plans and highlighting key risks.

Ark Pro CPAs topped the league tables in the third quarter, with five new SEC clients, all in China.

The company has added outsourced tax and advisory services for CPA firms as part of the renaming.

The audit overseer hit at least nine different firms, with fines totaling approximately $4 million.

The outcomes of this project will provide a clear-eyed vision of how we move the profession forward and collectively elevate the value of internal audit in the years ahead.

The board imposed a $175,000 fine on Smythe LLP, a Vancouver-based firm, for violating its rules and quality control standards on four audits.

The real estate company has been trying to hire a new auditor since its previous one, KPMG, quit in May last year.

The PCAOB released a report that found 42% of auditing firms got at least one quality control criticism related to engagement quality reviews.

"These findings are damning," Jon Holt, CEO of KPMG in the U.K., said. "It is clear to me that our audit work on Carillion was very bad."

The commission charged the Top 100 Firm with violating auditor independence rules on many occasions.

The standard reflects the many changes in technology, communications and business practices since an interim standard was first adopted decades ago.

The board levied a $2 million penalty against the Chicago-based Top 10 Firm for violating its auditing rules and standards, and sanctioned two of its audit partners.

The board issued a proposal to amend its rule for an individual auditor's or firm's contributory liability for knowingly or recklessly contributing to violations.