PCAOB Issues Guidance on the Use of Specialists
The PCAOB inspection staff has published Spotlight: Considerations for Audit Firms Using the Work of Specialists  ( Specialist Spotlight...
The Better Part of Valor: PCAOB Withdraws its Engagement Metrics and Firm Reporting Rules
On February 11, the Securities and Exchange Commission issued a notice stating that the Public Company Accounting Oversight Board had...
PCAOB Makes Public 2021 Quality Control Criticisms of Deloitte and Grant Thornton
On February 3, the Public Company Accounting Oversight Board released previously nonpublic portions of the 2021 inspection reports of...
Acting Chair Asks Court to Pause Challenges to SEC Climate Disclosure Rules
Acting SEC Chair Mark Uyeda has directed the Commission’s appellate litigation team to request that the Court of Appeals for the Eighth...
What Should be on the Audit Committee’s 2025 Agenda? – Part III
The December 2024 Update and the January 2025 Update  included a discussion of five papers in which accounting or consulting firms...
President Puts FCPA Enforcement on Hold
On February 10, President Trump issued an Executive Order  directing Attorney General Bondi to pause enforcement of the Foreign Corrupt...
It’s Another All-Time High! Audit Fees Rose Again in 2023
Two annual reports on audit and other fees paid to auditors have been released, and both reach the same conclusion: Fees hit a new high...
Six Large Firms Describe Their Commitment to Audit Quality
The U.S. members of the six global network accounting firms issue annual audit quality reports. These reports describe the firm’s...
SEC Sidetracks PCAOB Engagement Metrics and Firm Reporting Rules
The Securities and Exchange Commission has postponed its decision whether to approve the PCAOB’s firm and engagement performance metrics...
What Should be on the Audit Committee’s 2025 Agenda? – Part II
The December 2024 Update included discussion of four papers that suggest issues on which audit committees should focus in 2025. See...
California Will Go Easy on Enforcement of GHG Emissions Reporting in 2026
The California Air Resources Board (CARB) has announced that it will not take enforcement action during the first reporting year against...
PCAOB Outlines 2025 Inspection Priorities and What Audit Committees Should Ask Their Auditor
The Public Company Accounting Oversight Board’s inspection staff describes its priorities for 2025 in Spotlight: Staff Priorities for...
SEC Enforcement in 2024: Fewer Cases But More in Penalties
The total number of SEC enforcement actions of all types fell 26 percent in FY 2024, but the financial remedies ordered rose to an...
PCAOB Reports on the Link Between Audit Firm Culture and Audit Quality
In September 2023, the Public Company Accounting Oversight Board’s inspection staff launched an initiative to examine whether audit firm...
What Should be on the Audit Committee’s 2025 Agenda?
At the end of each year, many accounting and consulting firms present their views on the issues on which audit committees should focus...
PCAOB Describes Common Auditor/Audit Committee Communications Glitches
The Public Company Accounting Oversight Board’s staff has issued a publication in the Audit Focus  series highlighting auditor...
Audit Committee Nonfinancial Oversight Responsibilities Continue to Expand
In How board committee responsibilities and structures are changing , the EY Center for Board Matters explores changes in board committee...
PCAOB Adopts Pared Back Engagement Performance Metrics and Audit Firm Reporting Rules
On November 21, the Public Company Accounting Oversight Board adopted rules  that will require registered accounting firms to disclose...
PCAOB Puts NOCLAR on Hold but Reminds Auditors of Their Illegal Acts Responsibilities
On November 15, Accounting Today  reported  that the PCAOB will not take further action this year on its controversial proposal to...