Audit standards

The Public Company Accounting Oversight Board sanctioned a Deloitte member firm in South America for violating quality control standards.

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.

The Securities and Exchange Commission charged the former national assurance services leader at Marcum LLP with failing to address and remediate a number of deficiencies in the New York-based auditing firm's quality controls.

The institute's Auditing Standards Board issued an exposure draft for some proposed changes in the attestation standards for quality management and is asking for comments.

These are the first sanctions ever against a firm over independence violations because it's a member of an alliance where another firm did work for the same client.

The board continues its aggressive approach to oversight, announcing several hundreds of thousands of dollars in penalties on several auditors in a single week.

The head of the board views the recently proposed standard for sustainability reporting assurance as a way to make those reports more verifiable.

Several prominent trade groups are objecting to the board's proposed changes in auditing standards related to noncompliance with laws and regulations.

The board is looking for nominations for new members of its Investor Advisory Group and its Standards and Emerging Issues Advisory Group.

The disclosures that companies make about their green credentials will be evaluated by new global audit standards that are expected to be finalized by the end of next year.

The Center for Audit Quality is working to convince the board to water down a proposed update telling auditors to be on the lookout for fraud and other signs of noncompliance.

The International Auditing and Assurance Standards Board proposed new rules for providing outside assurance on a company's sustainability reporting efforts.

The board disciplined five auditing firms for violating its rules and standards when communicating with audit committees.

The more KAMs disclosed in an audit report, the higher the distress level of a company, according to a new study

U.S. audit officials have started a fresh round of inspections of New York-listed Chinese companies in recent weeks as tensions mount between the world's two largest economies.

The International Federation of Accountants released the second installment of its advice for implementing the IAASB's updated standards.

The board wants to address the greater use of technology by auditors, especially when it comes to analyzing information in electronic format.

The commission charged the firm with systemic quality control failures and violations of audit standards, mainly in connection with its audits of SPAC clients.

The proposal would toughen the requirements for the auditor's responsibility to consider a company's noncompliance with laws and regulations, including fraud. 

The board is adding two new projects planned for short-term action, along with four new projects aimed at improving its rules to protect investors.