Latest EY inspection shows improvement in error rate
The latest PCAOB inspection report for EY show the firm failed in 29 percent of audits inspected in 2015 to perform a clean audit -- an improvement over 2014 results.
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News BriefAI hallucinations in Deloitte Australia report highlight important role for compliance
“Hallucinatory” citations and errors in an AI-assisted report produced by Deloitte for the Australian government should be a wake-up call for compliance officers about the risks of placing too much trust in AI.
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PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
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ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.