- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Tammy Whitehouse2019-06-05T20:35:00
The PCAOB has disciplined two former Big Four auditors—one over an audit of internal control and the other over inspection issues.
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Auditors are still struggling with many of the same issues that have appeared prominently in inspection reports the past several years—but many firms are taking steps to address recurring problems, audit regulators say.
Accountants and auditors are getting a lighter touch from enforcement authorities, according to an analysis that shows actions dropped significantly from 2017 to 2018.
Audit committee chairs at companies whose audits are selected for regulatory inspection might have an opportunity to interact with PCAOB inspectors firsthand.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
