Accounting and Auditing - Financial Ops World

Big Four lose share of SEC audits

Accounting Today

APRIL 3, 2025

The 10 firms with the most public company audit clients accounted for 65% of the total market, down from 70% in 2023.

Auditing

Auditing Accounting Accounting

Climate reporting legislation: What it means for small businesses and accountants

Xero

DECEMBER 4, 2024

The requirements for small businesses and their accountants are due to be phased in over 2026 and 2027. What this means for accountants Accountants can play a crucial role in supporting businesses as they comply with the new climate reporting requirements. In the end, it’s just maths. There’s something for everyone.

XERO

XERO Accounting Accounting Auditing

SEC hits the brakes on accounting and auditing enforcement

Accounting Today

MARCH 12, 2025

The Securities and Exchange Commission dramatically pulled back on accounting and auditing enforcement last year after two years in a row of increases.

Auditing

Auditing Accounting Accounting

Webinars

How To Break Digital Transformation Barriers And Accelerate AI Adoption

Forecasting Failures Are Costly: Heres How To Fix Them

Future-Proof Your Firm: Smarter Tech for Stronger Returns & Simpler Workflows

Operational Strength Starts with People: The New Rules of Finance Leadership

What Your Financial Statements Are Telling You—And How to Listen!

MORE WEBINARS

PwC to take big steps on audit quality, independence, accountability

Accounting Today

SEPTEMBER 11, 2023

The Big Four firm plans to stop offering some types of services to SEC-registered audit clients, and to cut the compensation of top leaders if the firm's audits fall short on quality.

Auditing

Auditing Accounting Accounting

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets.

Accounting

PCAOB sanctions auditors over audit evidence

Accounting Today

MAY 7, 2024

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

Auditing Accounting Accounting

Internal audit leaders hunt for student talent

Accounting Today

MAY 3, 2024

Internal audit hiring manager are looking for recent college grads who have learned about accounting and auditing, but also technology like data analytics.

Auditing

Auditing Accounting Accounting

SEC upped accounting, auditing enforcement in FY 2023

Accounting Today

FEBRUARY 28, 2024

The 83 publicly disclosed accounting and auditing enforcement actions represented the highest number of actions initiated since FY 2019.

Auditing

Auditing Accounting Accounting

Two-thirds of businesses say audits hinder growth

Accounting Today

MAY 23, 2024

Traditional audits may hinder business growth potential as accounting firms are slow to embrace modern approaches, according to an Inflo report.

Auditing

Auditing Accounting Accounting

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. How does it fit into your accounts payable system?

Accounts Payable

Fieldguide expands into financial audit

Accounting Today

JUNE 4, 2024

Fieldguide announced the release of Fieldguide for Financial Audit.

Auditing

Auditing Computation

Art of Accounting: Perception vs. reality for tax audit fees

Accounting Today

JANUARY 13, 2025

Delivering an invoice for any service, including a tax audit, is a marketing activity, and it cannot be assumed that the client understands the value.

Auditing

Auditing Tax Invoicing Accounting

KPMG takes lead in Q1 SEC audit clients

Accounting Today

JULY 16, 2024

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

Auditing

IRS to reduce audits of EITC claimants

Accounting Today

SEPTEMBER 18, 2023

The service said Monday it plans to lower its audit rate of low-income taxpayers, even as some criticize its ability to protect taxpayer information.

Auditing

Auditing Tax

Audit committees set priorities

Accounting Today

MARCH 14, 2024

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

IRS tax audits may show unintended racial, ethnic bias

Accounting Today

MAY 23, 2024

The Internal Revenue Service doesn't collect data on taxpayers' race or ethnicity, but some of its methods could lead to disparities in its audit rate.

Auditing

Auditing Collections Tax

PCAOB proposes far-reaching requirements for audit firm reporting

Accounting Today

APRIL 9, 2024

The Public Company Accounting Oversight Board voted to propose an extensive set of new reporting requirements to impose on auditing firms.

Auditing

Auditing Accounting Accounting

KPMG fined £1.5M over Saatchi audit failings

Accounting Today

MARCH 4, 2024

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

Auditing

Auditing Financial Reporting Accounting Accounting

Broker-dealer audits continue to have high deficiency rates

Accounting Today

JULY 25, 2024

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

PCAOB sees improvements in largest audit firms

Accounting Today

MARCH 31, 2025

The Public Company Accounting Oversight Board's inspection staff found noticeable improvements in the deficiency rates of the six largest global auditing firms.

Auditing

Auditing Accounting Accounting

PCAOB sees signs of improvement in audit quality

Accounting Today

DECEMBER 11, 2024

Auditing firms appear to be making headway on fixing some of the problems identified by the Public Company Accounting Oversight Board.

Auditing

Auditing Accounting Accounting

IRS lowered its sights on high-income taxpayer audits

Accounting Today

JUNE 24, 2024

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

Auditing Tax

SEC approves PCAOB audit confirmation standard

Accounting Today

DECEMBER 1, 2023

The Securities and Exchange Commission voted to approve a new standard for audit confirmations that updates a decades-old standard to recognize the use of technology.

Auditing

PCAOB finds audit firm culture impacts quality

Accounting Today

DECEMBER 5, 2024

The Public Company Accounting Oversight Board is also offering insights on improving audit committee communications and a video on the new confirmation standard.

Auditing

Auditing Accounting Accounting

Board members need more audit and finance skills

Accounting Today

NOVEMBER 22, 2024

Audit and finance skills are heavily in demand on corporate boards, according to a survey by BDO.

Auditing

IIA approves revised global internal audit standards

Accounting Today

DECEMBER 14, 2023

The International Internal Audit Standards Board voted to approve a set of new standards that are expected to be released in January.

Auditing

Auditing Accounting Accounting

Audit committee disclosures increased over past decade

Accounting Today

NOVEMBER 30, 2023

Corporate audit committees have been providing investors with a greater number of disclosures about their activities and responsibilities over the past 10 years, but there's still room for improvement.

Auditing

Audit deficiencies rising, despite quality reviews

Accounting Today

OCTOBER 12, 2023

The PCAOB released a report that found 42% of auditing firms got at least one quality control criticism related to engagement quality reviews.

Auditing

How technology is reshaping the audit profession

Accounting Today

FEBRUARY 27, 2024

Auditing is undergoing a seismic shift, largely driven by the relentless march of technology.

Auditing

IAASB releases handbook for int'l audits

Accounting Today

SEPTEMBER 3, 2024

The International Auditing and Assurance Standards Board 2023-2024 Handbook includes ISA 600 and ISA for LCE.

Auditing

Auditing Accounting Accounting

IRS introduces business tax accounts as it targets big corporations for audits

Accounting Today

OCTOBER 20, 2023

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

Tax

Tax Auditing Accounting Accounting

Internal audit profession growing in America

Accounting Today

MARCH 11, 2024

The internal audit function is gaining more people and funding, according to a new survey released Monday during an Institute of Internal Auditors conference in Las Vegas.

Auditing

Auditing Accounting Accounting

Audit committees boost cyber, ESG expertise

Accounting Today

NOVEMBER 18, 2024

Audit committees are bringing on more directors with experience in cybersecurity and sustainability, according to a new survey.

Auditing

BF Borgers prosecuted in Canada over audit work

Accounting Today

AUGUST 26, 2024

An Ontario court placed the firm and owner Ben Borgers on probation for two years for unlicensed, unregistered audit work, and ordered both to pay fines.

Auditing

Enhancing equity in tax audits

Accounting Today

JULY 9, 2024

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

Auditing Tax Accounting Accounting

EIN red flags trigger tax audits

Accounting Today

SEPTEMBER 5, 2023

As an auditing professional, it's vital that you detect any discrepancies in business tax reports and either try to rectify them or report them to the IRS.

Auditing

Auditing Tax

Collapse of BF Borgers unleashes flood of new SEC audit clients

Accounting Today

SEPTEMBER 20, 2024

The unexpected demise of an audit firm proved a boon for many small auditors.

Auditing

PCAOB fines BDO USA $2M over audit violations

Accounting Today

SEPTEMBER 26, 2023

The board levied a $2 million penalty against the Chicago-based Top 10 Firm for violating its auditing rules and standards, and sanctioned two of its audit partners.

Auditing

Audit's Moneyball moment

Accounting Today

OCTOBER 17, 2024

It's time to stop talking about the future of audit.

Auditing

PCAOB fines firm $65K for audit deficiencies

Accounting Today

JANUARY 16, 2025

The Public Company Accounting Oversight Board revoked SS Accounting and Auditing's registration and barred its owner and sole partner for violating rules and quality control standards.

Auditing

Auditing Accounting Accounting

Average audit fees are rising as auditors turn more to technology

Accounting Today

NOVEMBER 14, 2023

Average audit fees increased by 4.6% from 2021 to 2022, and more auditors are using data analytics in their audits, according to a new report.

Auditing