Accounting Today

FEBRUARY 6, 2024

The International Auditing and Assurance Standards Board is proposing to toughen its rules for requiring auditors to look for signs of fraud in a client's financial statements.

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Accounting Today

SEPTEMBER 19, 2023

The Public Company Accounting Oversight Board issued a proposal to amend its rule for an individual auditor's or audit firm's contributory liability for knowingly or recklessly contributing to violations.

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CPA Practice

SEPTEMBER 19, 2023

A proposal issued by the Public Company Accounting Oversight Board (PCAOB) on Tuesday would hold auditors and others more accountable when they negligently, directly, and substantially cause their firm to violate auditing standards.

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Accounting Today

NOVEMBER 14, 2023

from 2021 to 2022, and more auditors are using data analytics in their audits, according to a new report. Average audit fees increased by 4.6%

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Going Concern

APRIL 8, 2024

The Association of Chartered Certified Accountants (ACCA) recently published some results from a survey of more than 6,500 finance professionals , the bulk of them auditors, from 150 countries and while the entire thing is packed with fascinating (if predictable) results, two areas in particular are crying out to be highlighted.

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Going Concern

MARCH 15, 2023

While the general investing public is asking “where were the auditors?” To any members of the general investing public reading this: “due professional care” means the independent auditor planned and performed the work required of them according to audit standards. Back to the auditors.

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Going Concern

NOVEMBER 1, 2023

The press release says: A number of Deloitte auditors in Ontario changed the date and time settings on their computer clocks to manually override controls in Deloitte’s audit software and backdate audit working paper signoffs between November 2016 and May 2018. CPA Ontario announced yesterday Deloitte will be paying $1.59 million ($1.15

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Accounting Today

MARCH 7, 2024

Just as tired pilots and crew members pose risks to flight safety, auditors fatigued from excessive workloads compromise the quality and reliability of audits.

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Going Concern

JUNE 13, 2023

Financial Reporting Council chair and stereotypically European named Jan du Plessis has told the Financial Times that audit firms — who regularly complain about the UK audit regulator being up their asses — should pay their junior auditors more. And we have all heard the complaints from junior auditors.

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CPA Practice

AUGUST 22, 2023

The Institute of Internal Auditors (IIA) – the internal audit profession’s leader in standards, certifications, education, research, and technical guidance worldwide – has approved Malta and Somalia as new affiliates to its global federation, further extending The IIA’s extensive international reach.

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Going Concern

DECEMBER 20, 2023

.” See below: Mandatory auditor rotation is in effect in Europe but handled differently by the 30 countries subject to it, see this helpful PDF. The post PwC Is the Winner of the 2022 Auditor Rankings, European Edition appeared first on Going Concern. You can snag the report from them here. pissing contests reports

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auditor audit 56

Accounting Today

SEPTEMBER 28, 2023

Cybersecurity and human capital rank as the top risks among internal auditors around the world, according to a new survey.

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Accounting Today

NOVEMBER 16, 2023

A recent survey has found internal auditors are optimistic about the economy and about the availability of talent going into 2024 despite ongoing risks in both areas.

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CPA Practice

MARCH 8, 2024

The Institute of Internal Auditors is currently reviewing the U.S. For internal auditors, the final rule involves new areas of review and assurance to the board regarding compliance with the new rule. Securities and Exchange Commission (SEC)’s newly-issued Climate Change Disclosure Rule.

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CPA Practice

MARCH 7, 2024

The Institute of Internal Auditors is currently reviewing the U.S. For internal auditors, the final rule involves new areas of review and assurance to the board regarding compliance with the new rule. Securities and Exchange Commission (SEC)’s newly-issued Climate Change Disclosure Rule.

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Going Concern

OCTOBER 25, 2023

Expect more of these fines to come, the PCAOB made use of other auditors one of its many nitpicking pet issues last year. See: Planning and Supervision of Audits Involving Other Auditors and Dividing Responsibility for the Audit with Another Accounting Firm , PCAOB Release No.

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CPA Practice

OCTOBER 10, 2023

As the scale of emerging technology risks facing companies continue to multiply, IT auditors play a key role in identifying these threats and helping their organizations to navigate them. A new survey conducted by Protiviti and The Institute of Internal Auditors (IIA) reveals which risks are keeping IT auditors up at night.

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Going Concern

NOVEMBER 29, 2022

Qualified opinions indicate that auditors have found issues in a company’s financials. Carillion says the value of two contracts alone in the year ended in 2016 was misstated by nearly £352 million and that had KPMG acted as a reasonably competent auditor, it would have detected the misstatements.

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Going Concern

JULY 19, 2023

Hong Kong is suffering from “a serious talent shortage” according to an article today in South China Morning Post and The Hong Kong Association of Registered Public Interest Entity Auditors (PIEAA) says accounting firms should start looking overseas.

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Going Concern

NOVEMBER 1, 2022

In short, things are not looking so hot for upside down auditors. Auditors are tired. You’ll note Australia is struggling with the same auditor shortages as every other market. May God have mercy on auditors’ souls. via Australian Financial Review. Ready for this? last year for year-end inventory counts.

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Going Concern

JUNE 22, 2022

The PCAOB adopted a new audit standard yesterday (AS 1206, Dividing Responsibility for the Audit With Another Accounting Firm ) to ensure that lead auditors are properly supervising the outside auditors they use. PCAOB Adopts New Requirements for Lead Auditor’s Use of Other Auditors [ PCAOB ].

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CPA Practice

JUNE 27, 2023

The proposal includes changes to update aspects of AS 1105, Audit Evidence , and AS 2301, The Auditor’s Responses to the Risks of Material Misstatement. Auditors use technology-assisted analysis in many audit areas, including those involving significant risks of material misstatement to financial statements due to error or fraud.

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Accounting Insight

AUGUST 3, 2023

ACCA (the Association of Chartered Certified Accountants), the Chamber of Auditors for Uzbekistan (COA) and the National Association of Accountants and Auditors of Uzbekistan (NAAAU) have signed a deal to work together. The three bodies will also look at working on capacity building projects. You can register for a free ticket here.

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CPA Practice

JUNE 7, 2023

The PCAOB on Tuesday introduced a proposal amending current PCAOB auditing standards related to the auditor’s responsibility to detect noncompliance with laws and regulations, including fraud, in the audit of a public company. Those very same investors are who we are here to protect. And that’s what we are doing today with this proposal.

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Accounting Today

MARCH 4, 2024

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

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auditor audit 130

Going Concern

APRIL 7, 2023

Auditors who think robust regulation of their sector is disproportionate deserve “the world’s smallest violin”, the head of the UK accounting watchdog has said. Thompson said that if auditors did not want to face such pressure, they should do a better job, these people added.

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Accounting Today

OCTOBER 17, 2023

The real estate company has been trying to hire a new auditor since its previous one, KPMG, quit in May last year.

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Going Concern

MARCH 24, 2023

Auditors have done so too. Adler, ditched by its auditor KPMG last year after the Big Four firm issued a disclaimer opinion for the 2021 results, has so far been unsuccessful in its search for a replacement. Auditors Are Demanding Concessions in Split [ Wall Street Journal ] Ernst & Young’s renegade U.S.

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Going Concern

MAY 19, 2023

Each received the same set of questions, aimed at measuring what share of crypto’s upper echelon employs a third-party auditor and has an independent board. Around half of the businesses surveyed currently engage an independent auditor to assess their finances, the findings showed. Chinese companies switch auditors to avoid U.S.

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Going Concern

JULY 31, 2023

The PCAOB’s new rules would widen auditors’ responsibility to scrutinise whether a company is complying with laws and regulations, and to communicate more of their concerns to a company’s board of directors. The post Monday Morning Accounting News Brief: ‘Auditors Are Not Lawyers’; Big 4 Break Up?

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Cherry Bekaert

MARCH 15, 2023

Author: Fred Nitting, Managing Director, Risk & Accounting Advisory Services Identifying the right internal auditor is a crucial business decision and professional CPA firms vary widely in terms of capabilities, resource availability, qualifications and much more. Ensure that you understand the answers they provide.

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Going Concern

MARCH 31, 2023

auditors who believe their part of the firm could end up weakened by a deal. accountants and auditors last year climbed at their quickest pace in recent years, but industry observers say increasing pay alone may not be enough to remedy a national shortage of accountants. John King and Frank Mahoney, senior U.S.

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Going Concern

APRIL 7, 2023

Big Four Auditors and Consultants Need Liability—And a Divorce [ Bloomberg Tax ] Part of the problem is the revolving door of personnel between the major accounting firms and the banks they purport to audit. and overseas” seeking further explanation about the auditor’s opinion. appeared first on Going Concern.

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Going Concern

OCTOBER 24, 2023

ASIC chairman Joe Longo told a parliamentary inquiry into the regulator on Friday that the auditing profession also had “long-term staffing challenges”, partly because being an auditor was a “high-risk” occupation because of heavy regulation of the sector. Most of these packages include superannuation. 45,000 AUD = $28,560 USD.

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Going Concern

FEBRUARY 2, 2023

If you include the last time Cohen & Company auditors screwed up an audit, which was in 2017, that’s two mistakes in the last 43 audits inspected, for a deficiency rate of 4.6%. The post Turns Out Cohen & Company Auditors Are Human After All appeared first on Going Concern.

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ThomsonReuters

JANUARY 3, 2023

Too many of today’s auditors are stressed and overworked. Therefore, firms need to ensure that auditors can access the tools they need and achieve the greater work-life balance they desire should they wish to retain top talent. . Auditors are no exception. What challenges do auditors face today?

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Going Concern

AUGUST 3, 2022

The post Here’s How Much Auditors and Consultants at Deloitte Australia Make appeared first on Going Concern. The gap differed by division, with a 2.2% gap in assurance and advisory and a 15.9% gap in consulting. Deloitte reveals minimum pay rates (managers start at $125,000) [ Australian Financial Review ].

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