The potential dismantling of the Public Company Accounting Oversight Board (PCAOB) may not dominate headlines, but its implications are far-reaching. Created in the wake of historic accounting scandals, the PCAOB has played…
Category: PCAOB
Good Practices and Other Observations Related to Auditor Independence Highlighted in New PCAOB Staff Report
The PCAOB released a new staff Spotlight publication titled “Inspection Observations Related to Auditor Independence.” Auditor independence is foundational to building investor confidence and fostering trust in the capital markets. Public companies…
PCAOB Report finds that some audit engagement teams missed risks of material misstatement by banks
PCAOB Staff Spotlight provides window into PCAOB inspections activities following 2023 bank failures, includes survey responses showing how dozens of U.S. firms responded to disruptions in the banking industry. A new Spotlight…
PCAOB Shares Perspectives From 2023 Conversations With Audit Committee Chairs
Washington, DC, Jun. 11, 2024. Today the PCAOB released a new staff Spotlight publication, ā2023 Conversations With Audit Committee Chairs.ā Engaging directly and regularly with audit committees is a priority for the…
Unlocking transparency: Exploring the PCAOB’s “AuditorSearch” and its impact on public company audits
AuditorSearch ā a comprehensive public database of engagement partners and audit firms participating in audits of U.S. public companies launched by the PCAOB in 2017 ā plays a pivotal role in promoting…
Who audits the auditors: Private company auditors oversight
The auditing process plays a crucial role in maintaining financial transparency and accountability within businesses. Whether a company is publicly traded or privately held, the role of auditors is significant in ensuring…
Who audits the auditors: The vital role of the PCAOB
In the complex world of financial reporting and corporate governance, maintaining trust and integrity is paramount. Auditors play a critical role in ensuring that financial statements accurately represent a company’s financial position….
PCAOB adopts new standard modernizing requirements for auditorsā use of confirmation
The new standard replaces outdated interim standard, enhances procedures, including strengthening an auditorās approach to identify fraud. The Public Company Accounting Oversight Board (PCAOB) adopted aĀ new standardĀ to strengthen and modernize the requirements…
PCAOB issues “Annual Report on the Interim Inspection Program Related to Audits of Brokers and Dealers”
The PCAOBās āAnnual Report on the Interim Inspection Program Related to Audits of Brokers and Dealersā (Annual Report) provides: Generally, the inspection results of firms that audited 100 or fewer broker-dealers continued…