- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Audit committee chairs at companies whose audits are selected for regulatory inspection might have an opportunity to interact with PCAOB inspectors firsthand.
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The Public Company Accounting Oversight Board is seeking practitioner comment on Critical Audit Matter requirements, part of the agency’s strategic plan to solicit more input from stakeholders.
While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.
The PCAOB has disciplined two former Big Four auditors—one over an audit of internal control and the other over inspection issues.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
