Tag:
audit firm
Latest Headlines
Latest Headlines
Time for an auditor's narrative in statements?
You have to give new PCAOB chairman James Doty credit for making audited financial statements a big priority. The fact is that these statements in substance and form have not changed dramatically
Should companies be forced to rotate audit firms?
The obvious conflict of interest in the accounting industry--the fact that companies pay audit firms to sign off on their financials--has long vexed regulators. The system is clearly not ideal, but
Big corporate boards getting less diverse
It's no secret that corporate boards aren't exactly bright, shiny reflections of the American population. Diversity has long been an issue, and was raised anew by a recent Huffington Post article. It
Are banks liable for Sarbanes-Oxley sign-off lapses?
With the release of a trove of material by the Financial Crisis Inquiry Commission, Citigroup's CEO Vikram Pandit and then CFO Gary Critteneden have come under renewed criticism for their decision to
Audit fees still dropping?
As companies honed their Sarbanes-Oxley processes over the last few years, audit fees declined significantly. The trend was fueled also by client companies taking a harder line on costs and seeking
More shareholder votes to approve auditors
It was big news when the SEC ( SEC news) ruled that broker-dealers could no longer vote on behalf of the customers whose shares it held "in street name." That was designed to boost the corporate
PCAOB grapples with how audit firms should explain their role
Most average investors probably assume that part of any audit calls for the audit firm to root out fraud. This is partly true. One professor tells CFO.com, "some people seem to confuse falsified
Ernst & Young defends Lehman Brothers audit
The fallout from Anton Valukas's post-mortem on Lehman Brothers continues ( Lehman Brothers news). Bloomberg weighs in with an article that suggests audit firms, despite the landmark Sarbanes-Oxley
Issuers vs. auditors redux
Those of you who were around for the early days of Sarbanes-Oxley 404(b) compliance can no doubt recall the pain that stemmed from the many auditor vs. issuer conflicts that arose. Company managers
PCAOB to change standards on confirmations
Third parties can, at times, be a great source of information for an audit firm that needs confirmation beyond what management can provide. In the wake of Satyam and other scandals, this is getting
