Views on improving the integrity of global capital markets


PCAOB Plan on Naming Audit Partner Is a ‘Small Ball’ Advance for Investors

PCAOB finds compromise option for making audit-partner disclosure more convenient and transparent.

The “Rolls Royce” of Auditors’ Reports

At a time when accounting standard setters are finalizing new requirements for the auditor’s report, Rolls Royce sets a high bar.

Navigating a Maze: Audit Profession’s Solution for Disclosing Engagement Partner

The debate continues regarding the PCAOB proposal to require disclosure of the name of the engagement partner in the auditor’s report.

Audit Transparency and Accountability: The Engagement Partner Should be Disclosed

A recent PCAOB proposal intends to enhance transparency and thus improve audit quality through the engagement partner’s increased sense of accountability — a move that has strong investor support.

“Going Concern” Warnings: Fewer Firms Improved in 2012 and Its Impact on Investors

Investors are closely following separate initiatives of the FASB and the PCAOB to improve the way both company management and the independent auditor report the company’s future financial health.

Enhancing Audit Quality: Lessons from Auditor Deficiencies and Accounting Restatements

In response to the financial crisis, the quality of bank audits has been in the regulatory reform spotlight.

Investor Win: FASB Proposes Enhanced “Going Concern” Warnings for U.S. Firms

FASB proposal would make warnings about a company’s failing financial health the responsibility of firm management.

Investors Remain in the Dark When PCAOB Disciplinary Actions Are Hidden in the Shadows

Reed-Grassley bill would provide much-needed transparency to public company auditing process.

Disclosure of PwC’s Quality Control Deficiencies Concerning to Investors

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.

Hewlett-Packard’s $8.8 Billion Acquisition Write-down Just Got A Bit Heavier

Recently the Financial Reporting Council (FRC), which sets the U.K. standards for accounting and auditing, announced that it would open an investigation into Hewlett-Packard’s $8.8 billion write-down of its acquisition of Autonomy.

Company Audits — Are Shareholders Getting Enough?

The Center for Audit Quality (CAQ) has weighed in on the issue of what information investors should receive in the report from a company’s auditor. In a 9 June letter to the Public Company Accounting… READ MORE ›

Never Mind the PCAOB, Here Comes the Martin Act train

News 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… READ MORE ›

Audit Firms Get Their Grades

Check 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… READ MORE ›

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