- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Tammy Whitehouse2019-06-10T17:33:00
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.
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U.K. audit regulators saw no improvement in audit quality in their most recent inspections, indicating none of the major firms achieved targeted pass rates.
The SEC has approved final standards issued by the PCAOB giving auditors new requirements for auditing estimates and relying on the work of specialists.
The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
