Views on improving the integrity of global capital markets

Auditing Standards


Wirecard Scandal Spurs European Commission Consult to Enhance the Quality and Reliability of Corporate Reporting in Europe

The implosion of Germany’s Wirecard has demonstrated that those parties – management, the audit committee and board, auditors, audit regulators, and corporate reporting regulators – investors compensate and rely upon to look after their capital investments failed them on multiple levels in the European Union’s (EU’s) largest economy.

Audit Quality Indicators: An Integral Part of Transparency

CFA Institute recently responded to
the Public Company Accounting Oversight Board’s (PCAOB) Concept Release, Potential Approach to Revisions to
PCAOB Quality Control (QC) Standards.

Regarding communication, the
Concept Release says, 

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Take the Survey: Critical Audit Matters

The PCAOB would like to hear from investors and is conducting an investor-specific survey in addition to their general request for comment. The deadline to complete the survey is May 29th.

E-Signatures for Audit Reports in India Are Allowed — Should Be Required

Electronic signatures on audit reports should not just be permitted but, indeed, be required. Introducing e-signatures is a useful step toward increasing the digital usability and security of reports.

The Audit Gender Gap: Who Audits the Companies You Invest In?

The findings in "New Public Company Auditor Disclosures: Who Audits the Company You Invest In? How Long Have They Been the Auditor," were compelling, particularly on gender diversity.

The DAWG and CAATs: Incorporating the Use of Data Analytics in Auditing Standards

The use of data analytics in auditing is key for more effective and efficient overall financial reporting process, which better serves investors.

Investor Expectations Are High That the New Auditor’s Report Won’t Be Al Capone’s Vault

IAASB’s new standards will live up to the hype — more transparency for investors and key stakeholders to ensure market integrity. How have we helped shape the new standards rolling out in 2017?

Seven’s a Charm for Investors: PCAOB Disclosure of Engagement Partner Finally Reality

Mickey Mantle, the UCLA Bruins, the seven seas — what do they have in common with the Public Company Accounting Oversight Board’s disclosure requirement? What three main changes should investors know?

Audit Inspection Reports Are Like “Groundhog Day” Storylines

About those findings, what are IFIAR and the six largest network firms (including BDO International Ltd., Deloitte Tohmatsu Ltd., and Ernst & Young Global Ltd.) doing to end investors’ audit inspection report 'winter’?

Is Audit Committee Transparency Improving? Not Really, Despite CAQ Report Headline

Disclosures continue to leave investors in the dark, audit study shows.

Toshiba Scandal: Should Outgoing CFO Have Chaired the Audit Committee?

Should a firm’s outgoing CFO head its audit committee, or should there be a minimal cooling-off period?

With PCAOB Form, Finally Maybe Some Transparency into Identity of US Audit Partner

The just-issued Public Company Accounting Oversight Board plan takes incremental steps to larger objective — transparency for investors.

Toshiba Accounting Scandal: Should Auditor Ernst & Young ShinNihon Get a Mulligan?

Given the sheer size of the financial misstatement, it begs the question: Why was the auditor blind to the accounting irregularities?

Auditor Report: Baseline Set, Now Searching for ‘Sweet Spot’ in Investor Communication (Video)

KPMG study: Expanded auditor report helps close “expectation gap” between auditors and investors.

Balance in Public Company Audit Priorities Important to Investors

PCAOB should resist pressure from the SEC to shift its focus from important transparency projects.



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