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Regional bank loan oversight lapses and borrower fraud disclosures jolt market
Markets take a hit amid broader fears about credit quality and questions over risk assessment.
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PCAOB issues guidance on evaluating reliability of electronic audit evidence
A new staff publication outlines how auditors should assess the trustworthiness of external information that companies provide in electronic form.
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PCAOB imposes $100k civil money penalty on New York-based audit firm
A failure to adhere to standards for communications between predecessor and successor auditors is at the heart of the violation.
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‘This industry is a joke’ says Senate subcommittee report calling out KPMG
The report states that the audit firm left depositors and investors unaware of the banks’ deficient recordkeeping, troubled risk management, and other concerning practices.
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Rapid spread of AI, proliferation of APIs and sovereignty key data concerns
Thales Data Threat Report also reveals that firms dismiss data compliance audits as “checkbox” exercises.
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PCAOB’s Broker-Dealer Audit Focus Series: Reviewing exemption reports
The auditor’s objective is to state whether one or more conditions exist that would cause one or more of the broker-dealer’s assertions not to be fairly stated.
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Dutch regulator takes a hard line on audit integrity
Joint investigations lead to fines as AFM collaborates with US Public Company Accounting Oversight Board (PCAOB) and takes direct action against local firm.
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KPMG fined £690,000 for breaching independent audit rules
UK accounting watchdog imposes penalty on Big Four firm over “basic and fundamental” breaches of audit rules.