Will the alleged insider trading scandal involving ex-KPMG partner Scott London compel the Public Company Accounting Oversight Board to finally require disclosure of the lead partner on public company audits? Read more
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The PCAOB recently updated its 2009 and 2010 inspection reports for PricewaterhouseCoopers (PwC) covering audit years 2008 and 2009. Originally, the PCAOB identified quality control deficiencies associated with those audit years and gave PwC 12 months from the date of each report to implement corrective action. Read more
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Fraudulent financial reporting is such a major concern in Asia that U.S. regulators are now getting involved — a reminder to investors of the potential perils posed by companies that are listed in foreign countries, whether through a reverse merger or IPO. Read more
Leave a CommentSimilar to market crises and accountancy-related corporate scandals that have occurred in the past, the extent to which auditors act in the interests of investors has yet again been brought into sharp focus in the aftermath of the 2007-2009 market … Read more
Leave a CommentWhen the Public Company Accounting Oversight Board (PCAOB) Office of the Chief Auditor (OCA) presented an update on 22 March on outreach to investors and others about changes to the auditor’s reporting model, it cited a 2008 CFA Institute survey … Read more
Leave a CommentNews of New York State Attorney General Andrew Cuomo’s decision to file a civil lawsuit against Ernst and Young LLP for its role as auditor to Lehman Brothers is just the latest crack to develop in the foundation of global capital … Read more
Leave a CommentCheck out the latest accounting industry score card (PDF) from the Public Company Accounting Oversight Board (PCAOB), the U.S. regulator of accounting firms, which looked at the performance of such firms during the financial crisis. No prizes for guessing it … Read more
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