Audit software

An incorrectly formatted spreadsheet caused Iceland to price the sale of its Islandsbanki stake too cheaply earlier this year, an investigation by the National Audit Office has found.

Average audit fees rose a slight 2.5% from $2,600,677 in 2020 to $2,666,659 in 2021, reflecting increased demands on auditors.

A recent study says that when auditors are given tools that they believe are more sophisticated, they are more likely to bias their evaluations towards what their supervisor wants.

The Public Company Accounting Oversight Board has again rejiggered its standard-setting and research agendas, adding three new projects.

Leveraging artificial intelligence with financial data has enormous potential to help a firm's strategies in the days, months and years ahead.

The add-on aims to help manage downstream risks from third parties.

Companies can get a "reasonable" level of assurance on their internal controls.

Sue Coffey of the AICPA shares the latest trends and newest developments in this fast-changing corner of the profession, and looks ahead to what's next.

Two decades after passage of the Sarbanes-Oxley Act, public companies are spending more time and money trying to comply with SOX requirements, despite the increasing use of technology to automate the process.

Jennifer Wilson, the leader of Convergence Coaching, says that technological advance combined with changing client demand will lead the remote audit to become the norm.

Plus FloQast launches an online learning portal; Expensify rolls out a monthly settlement feature; AuditSight raises $4 million; and other technology news.

The future is bright for auditing technology, but auditors need to embrace it.

The Big Four firm is adjusting to a new, tougher regulatory environment, even as it rolls out its latest auditing technology.

Audit software company Validis has partnered with cloud assurance platform Auvenir in a move that will make complex audit tools available to smaller accounting firms.

One of the most interesting, yet overlooked aspects of digital transformation is the way in which it changes the shape of data available to auditing professionals.

The cloud-based audit, risk and compliance management platform announced enhancements that will allow for a wider array of options for professionals.

The IIA is repositioning to embrace areas like environmental, social and governance reporting and other issues.

The risk and compliance software firm announced upgraded capabilities through new features and applications in its RiskCloud platform.

Remote audits have allowed teams to increase efficiencies in the execution of the work.

Deloitte & Touche chair and CEO Lara Abrash has been watching the Big Four firm’s audit practice changing over the past two years.