All articles by Tammy Whitehouse – Page 6
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PwC shows uptick in audit deficiencies in latest report
Audit regulators issued their 2017 inspection report on PwC, showing an uptick in the percentage of audits with deficiencies.
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Article
Grant Thornton earns record low deficiency rate
Grant Thornton earned a record low deficiency rate on its newest audit inspection report, the first major firm to deliver a rate in the teens since 2009.
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ArticleCompanies walk judgment tightrope as Brexit doubts peak
Preparers are facing some brutal accounting judgments as they approach the end of a reporting period straddling key dates in a chaotic Brexit.
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ArticleFASB revises proposed changes to income tax disclosure
FASB has revised its proposed changes on tax disclosures to respond to feedback to an earlier proposal and to reflect changes under tax reform.
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ArticleClarity, comparability still to come under new revenue rules
As companies wrap up their first year under the new revenue recognition standard, evidence of the learning curve and challenges with comparability are abundant.
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PwC reduces damages in Colonial Bank failure
Appealing a court ruling, PwC reached a $335 million settlement with the FDIC over professional negligence claims in the failure of Colonial Bank.
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ArticleCharts: Exclusive analysis of audit inspection reports
See how the big accounting firms compare in terms of audit deficiency rates for 2009 through 2016 and internal control deficiencies for 2016 based on PCAOB inspection report results.
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ArticleQuality reports from major audit firms
In recent years, major audit firms have begun producing voluntary quality reports. We offer a sampling of findings from six of the biggest firms to accompany our auditing special report.
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ArticleTransparency a game-changer for auditor evaluations
Under rising pressure to be more transparent about how they oversee auditors, proactive audit committees are raising their games when it comes to evaluating all aspects of their audit.
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ArticleSpecial report: Building a better audit
Various initiatives on producing audit quality indicators give audit committees some questions to ask or data points to consider in assessing their audits and their auditors.
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ArticlePCAOB advises auditors to expand view of CAMs
After reviewing implementation activity, the PCAOB is advising auditors to think a little more broadly about how they identify and describe CAMs.
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ArticlePCAOB stokes audit committees on inspection engagement
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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ArticleMind controls, disclosures on leases, Big Four firms advise
As companies face first-quarter reporting under lease accounting, Big Four firms are offering some last-minute pointers about controls and disclosures.
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ArticleBanks move forward with CECL, expecting no relief
Despite calls for delay or reconsideration of the pending new model for recognizing loan losses, entities are implementing as if nothing will change.
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Article
Companies tie loose ends on leasing, prepare ongoing accounting
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
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ArticleSEC’s Peirce supports reconsideration of SOX 404(b)
As internal control heartburn persists for many public companies, at least one member of the SEC would welcome changes to the Sarbanes-Oxley Act.
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ArticleFormer KPMG, PCAOB leaders convicted on fraud counts
A former KPMG audit leader and a former inspections leader at the PCAOB have been convicted of wire fraud in a scheme to subvert the inspections process.
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Deloitte wins, other Big Four firms lose audit clients in 2018
Deloitte led Big Four firms in picking up new audit engagements in 2018, while KPMG lost the largest number overall, according to the latest analysis.
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ArticleInternal audit still vexed by data, third-party risks
Internal audit is making strides in steering its focus and resources toward companies’ emerging risks—but there’s still some work to be done, the IIA says.
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ArticleLeases 2.0: Is your company ready for ongoing compliance?
With leases about to hit corporate balance sheets, companies need to shift gears to focus on the ongoing implications of new lease accounting rules.