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PCAOB Staff Report Offers Perspectives of Target Team Inspectors on Risk Areas in Public Audits
Accounting
A recent Public Company Accounting Oversight Board (PCAOB) staff report, Observations From the Target Team's 2023…
Read More
Consultant: PCAOB's New QC 1000 Represents Paradigm Shift for Audit Firms’ Operations
Auditing
The Public Company Accounting Oversight Board (PCAOB)’s new quality control (QC) standard, QC 1000, represents a radical…
Read More
PCAOB Sanctions Five Firms for Violating Audit Committee Reporting Requirements
Auditing
The Public Company Accounting Oversight Board (PCAOB) sanctioned four audit firms for violating the agency's rules and…
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PCAOB Releases Staff Report on Auditor Independence, Offering Good Practices for Firms
Auditing
A staff report released by the Public Company Accounting Oversight Board (PCAOB) on Sept. 16 puts the spotlight on recent…
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PCAOB Report: Bank Audit Teams Failed to Identify Certain Risks of Material Misstatement
Auditing
On Sept. 9, the Public Company Accounting Oversight Board (PCAOB) staff released a report stating that certain bank audits…
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With Some ESG Reporting Set to Become Mandatory in 2025, CPAs Could Have More Audit Opportunities
Auditing
Participants at a recent symposium on environmental, social and governance (ESG) reporting, hosted by the AICPA and its…
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TIGTA: IRS Examiners Spent 3 Times as Many Hours Doing Compliance Checks of Tax-Exempt Organizations Since 2020
Auditing
The IRS's Tax-Exempt Compliance Unit (TECU)'s examiners have spent almost three times as many hours closing compliance…
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SEC Approves 3 PCAOB Actions Focusing on Auditor Responsibilities
Auditing
The Securities and Exchange Commission (SEC) announced that it approved three standard-setting and rule-making actions by…
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PCAOB Inspection Reports for 2023 Reveal Some Improvement at Large Firms but Continuing Audit Deficiencies Overall
Auditing
The Public Company Accounting Oversight Board (PCAOB) announced that it has posted its inspection reports for all of 2023,…
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