Accounting Today

APRIL 19, 2024

The Accounting and Financial Reporting Council will be investigating an anonymous whistleblower report alleging potential deficiencies in the firm's systems of quality management and the quality of its audits of the Chinese real estate giant.

Auditing 195

Auditing Financial Reporting Accounting Accounting 195

Fidesic blog

DECEMBER 6, 2023

Whether internal or external, financial audits can be an extremely stressful time. Accounts receivable auditing is among the most critical of financial audits. An internal AR audit will give deep insight into the business' incoming cash and can be a determining factor in planning the financial future of the company.

Accounts Receivable 130

Accounts Receivable Accounts Receivable Account Receivables Auditing 130

Accounting Today

MARCH 19, 2024

The Public Company Accounting Oversight Board posted a settled disciplinary order Tuesday sanctioning an Israeli auditor and her firm for violating the PCAOB's rules during several audits, imposing a $200,000 penalty.

Auditing 169

Auditing Accounting Accounting 169

Accounting Today

JANUARY 8, 2024

The International Auditing and Assurance Standards Board is planning to make some minor adjustments in its quality management and global audit standards to align them more closely with international ethics rules for accountants.

Auditing 195

Auditing Accounting Accounting 195

Accounting Today

DECEMBER 1, 2023

The Securities and Exchange Commission voted to approve a new standard for audit confirmations that updates a decades-old standard to recognize the use of technology.

Auditing 311

Auditing 311

Accounting Today

APRIL 26, 2024

The Los Angeles-based boutique investment bank's audit by Marcum cited multiple material weaknesses in the company's reporting, and some of the previously reported data was revised.

Auditing 169

Auditing Financial Reporting 169

Accounting Today

NOVEMBER 30, 2023

Corporate audit committees have been providing investors with a greater number of disclosures about their activities and responsibilities over the past 10 years, but there's still room for improvement.

Auditing 321

Auditing 321

Accounting Today

FEBRUARY 27, 2024

Auditing is undergoing a seismic shift, largely driven by the relentless march of technology.

Auditing 312

Auditing 312

Accounting Today

DECEMBER 14, 2023

The International Internal Audit Standards Board voted to approve a set of new standards that are expected to be released in January.

Auditing 311

Auditing Accounting Accounting 311

Accounting Today

JULY 28, 2023

The Public Company Accounting Oversight Board disciplined five auditing firms for violating its rules and standards when communicating with audit committees.

Auditing 244

Auditing Accounting Accounting 244

Accounting Today

SEPTEMBER 18, 2023

The service said Monday it plans to lower its audit rate of low-income taxpayers, even as some criticize its ability to protect taxpayer information.

Auditing 342

Auditing Tax 342

Accounting Today

OCTOBER 12, 2023

The PCAOB released a report that found 42% of auditing firms got at least one quality control criticism related to engagement quality reviews.

Auditing 300

Auditing 300

Accounting Today

SEPTEMBER 26, 2023

The board levied a $2 million penalty against the Chicago-based Top 10 Firm for violating its auditing rules and standards, and sanctioned two of its audit partners.

Auditing 294

Auditing 294

Accounting Today

JANUARY 24, 2024

Businesses are likely to see more sales tax audits in 2024 as a result of changes happening across the states, according to a new report.

Auditing 294

Auditing Tax 294

Accounting Today

SEPTEMBER 5, 2023

As an auditing professional, it's vital that you detect any discrepancies in business tax reports and either try to rectify them or report them to the IRS.

Auditing 294

Auditing Tax 294

Accounting Today

MARCH 12, 2024

A recent survey from Gartner found that few audit executives report using generative AI in their department, but many say they expect to do so in the future.

Auditing 226

Auditing 226

Accounting Today

APRIL 5, 2024

Ideagen Audit Analytics' report shows mid-tier auditors taking market share from smaller firms.

Auditing 211

Auditing 211

Accounting Today

AUGUST 10, 2023

The Public Company Accounting Oversight Board saw high rates of deficiency when inspecting audits of brokers and dealers last year, with little to no improvement over prior years.

Auditing 246

Auditing Accounting Accounting 246

Accounting Today

NOVEMBER 14, 2023

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

Auditing 315

Auditing 315

Accounting Today

OCTOBER 20, 2023

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

Tax 358

Tax Auditing Accounting Accounting 358

Accounting Today

MARCH 1, 2024

Despite suggestions to the contrary, audits remain valuable and serve a grander purpose.

Auditing 195

Auditing 195

Accounting Today

DECEMBER 28, 2023

A DOL study uncovered problems in almost a third of employee benefit plan audits — but that's actually an improvement.

Auditing 292

Auditing 292

Accounting Today

JANUARY 9, 2024

The Institute of Internal Auditors issued a newly updated set of Global Internal Audit Standards, taking effect in January 2025.

Auditing 195

Auditing Accounting Accounting 195

Accounting Today

FEBRUARY 1, 2024

Audit reports contain significant, material information, argues accounting educator J. Edward Ketz.

Auditing 141

Auditing Accounting Accounting 141

Accounting Today

JULY 25, 2023

The board's inspectors are finding 'unacceptable' levels of problems at auditing firms, with year-over-year increases once again.

Auditing 245

Auditing 245

Accounting Today

DECEMBER 7, 2023

The International Auditing and Assurance Standards Board has unveiled a new standard for auditing smaller businesses and organizations.

Auditing 195

Auditing Accounting Accounting 195

Accounting Today

MARCH 5, 2024

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

Auditing 177

Auditing Financial Reporting 177

MineralTree

NOVEMBER 2, 2023

Accounts payable is a foundational function that ensures organizations maintain accurate invoices, payments, and vendor relationships, while making bill payments on time. However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges.

Accounts Payable 81

Accounts Payable Accounts Payable Auditing AP 81

Accounting Today

JANUARY 19, 2024

If CFOs, controllers and other finance leaders implement a handful of straightforward best practices before, during and after an audit, they can maximize efficiency and insight for everyone involved.

Auditing 146

Auditing 146

Accounting Today

AUGUST 1, 2023

At the same time, the number of companies reporting their audit fees has dropped roughly 20%.

Auditing 246

Auditing 246

Accounting Today

OCTOBER 12, 2023

It is clear to me that our audit work on Carillion was very bad, over an extended period." "These findings are damning," Jon Holt, chief executive officer of KPMG in the U.K.,

Auditing 204

Auditing Accounting Accounting 204

Accounting Today

OCTOBER 10, 2023

The Pittsburgh Steelers kicked off an unusual multiyear partnership Tuesday with the Center for Audit Quality's Accounting+ initiative with the goal of drafting a new generation of diverse students to join the accounting profession.

Accounting 300

Accounting Accounting Auditing 300

Accounting Today

AUGUST 22, 2023

But what if you're audited? You got your taxes filed by the skin of your teeth last year and before. What if you need a loan? Are you ready?

Auditing 246

Auditing Tax 246

Accounting Today

JULY 18, 2023

The more KAMs disclosed in an audit report, the higher the distress level of a company, according to a new study

Auditing 246

Auditing Accounting Accounting 246

Accounting Today

FEBRUARY 21, 2024

The Public Company Accounting Oversight Board levied a $2 million fine against WithumSmith+Brown for violating quality control rules.

Auditing 286

Auditing Accounting Accounting 286

Accounting Today

JULY 27, 2023

The service is using the extra funding it received from the IRA to audit big, complex partnerships using data analytics and other technology tools, while working on hiring more experienced accountants.

Auditing 130

Auditing Accounting Accounting Tax 130

Accounting Today

MARCH 5, 2024

The Public Company Accounting Oversight Board revoked the registration of Gries & Associates and its founder, while imposing a $65,000 fine for violations that led to multiple financial restatements.

Auditing 169

Auditing Accounting Accounting 169