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Broker-dealer audits continue to have high deficiency rates

Accounting Today

The PCAOB issued its annual report on its audits of brokers and dealers and noted that it's seeing at least one deficiency in 70% of the 103 audit engagements it reviewed in 2023.

Auditing 287
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Enhancing equity in tax audits

Accounting Today

While the IRS and the Treasury have committed to tax administration equity, the Government Accountability Office recently found potential unintended biases in some of the systems and methods used by the IRS for audit selection — meaning some populations may be getting selected for audits at a higher rate than others.

Auditing 281
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KPMG takes lead in Q1 SEC audit clients

Accounting Today

The Big Four firm netted the most new SEC audit clients in the first quarter, followed closely by Deloitte.

Auditing 314
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PCAOB sanctions auditors over audit evidence

Accounting Today

The Public Company Accounting Oversight Board sanctioned three auditors from Florida accounting firm Liggett & Webb for violations involving audit evidence, professional skepticism, and other matters.

Auditing 294
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Virtual Cards — Everything You Need to Know

Speaker: Eoin Hession, Controller at Recharge

If you’ve never had the pleasure of creating a virtual card nor enjoyed the benefits of their approval workflows, automatic syncing to the GL, and continuous audit trail, join us to get up to speed on this increasingly mainstream payment innovation. This webinar will answer the following questions: What is a virtual card?

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IRS lowered its sights on high-income taxpayer audits

Accounting Today

The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.

Auditing 305
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Audit committees set priorities

Accounting Today

A majority of audit committee members are eyeing cybersecurity as a top priority in the next 12 months, followed by enterprise risk management and talent.

Auditing 282