CFO Dive

MARCH 20, 2023

The shortage of workers with the core accounting skills needed to staff audits is making audit failures more likely, Hofstra University’s Jack Castonguay says.

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Auditing Accounting 273

CFO Dive

NOVEMBER 9, 2023

GenAI isn’t likely to replace accountants any time soon — but firms like Deloitte are already integrating it into their accounting and audit practices.

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Auditing Accounting 297

CFO Dive

MARCH 28, 2023

The audit watchdog aims to update and unify interim standards created 20 years ago, aligning its rules with new independence requirements and advances in technology.

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Auditing Technology 260

CFO Dive

SEPTEMBER 26, 2023

As regulators worldwide begin to mandate ESG disclosures, only 25% of companies are ready for audits of their reports, KPMG said.

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Auditing 278

CFO Dive

APRIL 10, 2023

The new SVB shareholder lawsuit shines a light on KPMG’s February audit that effectively gave the bank a clean bill of health about two weeks before its collapse.

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Auditing Banking 249

CFO Dive

APRIL 28, 2023

Audit firms face a conflict between sustaining income from client fees and their legal obligation to identify weaknesses in a client’s internal controls, researchers said.

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Auditing 250

CFO Dive

JULY 28, 2023

The SEC’s chief accountant called out the practice by which some crypto companies pay for less “precise” reviews of their business that they misrepresent to investors as audits.

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Auditing Accounting 207

CFO Dive

JANUARY 13, 2023

Audit committees are taking on more responsibilities as the SEC writes several rules requiring more detailed corporate disclosure.

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Auditing 253

CFO Dive

FEBRUARY 3, 2023

With internal audit committees biting off more than they can often chew, committee members across businesses are feeling the burnout.

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Auditing 260

CFO Dive

AUGUST 16, 2023

The firm violated Public Company Accounting Oversight Board standards in connection with an audit of music streaming business Akazoo, the SEC found.

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Auditing Accounting 229

CFO Dive

JANUARY 18, 2024

A barrage of business risks may intensify this year, and audit committees need to help C-suite executives limit potential losses and seize opportunities, EY said.

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Auditing 190

CFO Dive

OCTOBER 19, 2022

The fine is the largest civil penalty levied against an individual by the federal audit watchdog since it was established in 2002.

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Auditing 288

CFO Dive

AUGUST 16, 2022

SEC Chair Gary Gensler hailed efforts to avert significant errors in audits by multiple firms, including mistakes in the calculation of revenue and measurement of fair value.

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Auditing 255

CFO Dive

OCTOBER 5, 2022

The watchdog for the firms that audit publicly-traded companies has intensified supervision in 2022, with plans to sharpen penalties against rule-breakers.

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Auditing Planning 238

CFO Dive

APRIL 20, 2023

The criticism of SPAC audits follows a surge in restatements by the so-called blank-check companies.

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Auditing 245

CFO Dive

JANUARY 22, 2024

Do you know how audits can enhance the investment decision-making process? This short video explains how accurate, reliable and transparent financial reporting keep capital markets operating effectively.

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Auditing Financial Reporting Investments Marketing 130

CFO Dive

NOVEMBER 29, 2022

Chief audit executives struggle to fend off ransomware attacks as the tight labor market leaves them understaffed.

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Auditing Marketing 273

CFO News

MARCH 10, 2024

Top audit firms in India, including KPMG affiliate BSR & Affiliates and BDO affiliate MSKA & Associates, have stopped offering non-audit services to audit clients. This move aligns with the NFRA's strict stance on conflict-of-interest issues.

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Auditing 111

Future CFO

JULY 8, 2024

Editor’s note: Audit is much more than a compliance requirement and is definitely not a declining industry, said Narissa Chen (pictured), Partner, Head of Audit & Assurance, Forvis Mazars in Singapore. She shared with FutureCFO what a career in audit offers and how female professionals can become audit leaders.

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Auditing Leadership Compliance Communication 52

CFO News

JUNE 8, 2023

Joint Audit India: David Herbinet, its global head of audit, says joint audit deals with challenges of high concentration of Big Four firms and of audit quality

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Auditing Concentration 98

CFO News

AUGUST 22, 2023

The National Financial Reporting Authority (NFRA) has imposed fines totalling Rs 30 lakh on an audit firm and its partner for lapses in the audit of Burnpur Cement Ltd. The regulator has slapped a fine of Rs 25 lakh on the audit firm K Pandeya & Co and Rs 5 lakh on Manjeet Kumar Verma, a partner with the audit firm.

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Auditing Financial Reporting 98

Bramasol

MAY 13, 2024

Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. While passing each audit is a critically important milestone, companies also should understand that it is only one aspect of ensuring their financial transparency and integrity. Why Should You Care?

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Auditing Compliance SAP Accounting Standards 89

The Charity CFO

MARCH 31, 2023

The word audit can invoke instant fear and dread. Whether it’s an IRS audit, external audit, or even an internal audit, the process can feel burdensome and worrying. Contrary to popular belief, most audits are not conducted to detect a problem. Should My Nonprofit Obtain an Independent Audit?

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Nonprofit Auditing Compliance CFO 98

CFO News

AUGUST 7, 2023

Amid instances of auditing lapses at companies and the regulator taking action against erring auditors, NFRA Chairperson Ajay Bhushan Prasad Pandey on Monday stressed on the need of audit documentation.

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Auditing 98

CFO News

NOVEMBER 14, 2023

This collaboration with 55 global counterparts signifies a commitment to enhancing audit practices worldwide and fostering the exchange of best practices.

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Auditing 119

Future CFO

APRIL 4, 2024

In a recent joint survey by the Association of Chartered Certified Accountants and the Chartered Accountants Australia and New Zealand , it was revealed that both current audit professionals and prospective entrants stress the crucial need to achieve equilibrium between work and one’s personal life.

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Auditing Leadership Investments Accounting 52

CFO News

JULY 27, 2023

In India, audit committees of companies are increasingly paying attention to the greater diligence needed. It is high time that they realize the criticality of their role in improving audit quality. However, in many companies, the process followed continues to remain ad-hoc and at times lacks transparency.

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Auditing 98

CFO News

JUNE 13, 2023

Sudhir Soni says there is also a risk of something slipping through the cracks as in a joint audit responsibility gets divided and allocation of work may get missed.

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Auditing 116

The Charity CFO

APRIL 29, 2022

Many nonprofit organizations both large and small need to undergo a financial statement audit every year. Preparing for a nonprofit audit can be overwhelming and anxiety-filled, especially if it’s your first audit or you don’t have a strong and experienced financial team. What is a financial statement audit?

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Nonprofit Auditing General Ledger Reconciliations 105

Future CFO

MAY 26, 2022

EY is considering a global audit spinoff amid growing regulatory pressure, according to media reports. EY and other Big Four accounting firms — PwC, Deloitte, and KPMG — have long been slammed for their lack of independence in their auditing of company accounts from which they also generate income with consulting, tax, and advisory services.

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Auditing Accounting Firms Accounting 97

Future CFO

NOVEMBER 28, 2023

Good audit equates to less time wasted, as some leaders recount that 'time is money'. Moreover, results from the audit process should be released in a timely manner. Auditing with agility also brings in greater efficiency and better alignment between the audit work and the organisation's value.

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Auditing Leverage Marketing Compliance 52

Global Finance

FEBRUARY 4, 2023

Audit companies face an audit by an government oversight agency and are found lacking.

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Auditing 116

CFO News

SEPTEMBER 27, 2023

The Telangana High Court has ruled that the National Financial Reporting Authority does not have jurisdiction over audits prior to its constitution in October 2018. Legal and audit experts debate the issue.

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Auditing Accounting Financial Reporting 111

CFO News

OCTOBER 17, 2023

The audit committees and the independent directors should regularly communicate with auditors throughout the year and should not limit their role to reviewing the audit report only at the end of the audit, Ajay Bhushan Pandey tells ETCFO in an interview.

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Auditing Communication 111

CFO News Room

NOVEMBER 22, 2022

Newly released federal audits reveal widespread overcharges and other errors in payments to Medicare Advantage health plans for seniors, with some plans overbilling the government more than $1,000 per patient a year on average. Originally published at Kaiser Health News. The public deserves more information about that.”.

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Auditing Planning Accounting Economics 100

Embark With Us

DECEMBER 13, 2022

As a business leader at a growing company, a financial statement audit probably isn't top-of-mind right now. After all, you also have to grow revenue, manage day-to-day operations, and navigate a pretty volatile marketplace.

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Auditing Accounting 98

CFO News

JULY 16, 2024

PwC plans to cut up to half its financial services auditing staff in China amid regulatory scrutiny and client departures. The firm, which employs at least 2,000 in this sector, faces a $138 million fine for its role in auditing China Evergrande Group. Cost-cutting measures include layoffs and mandatory leave.

Auditing 40

Auditing Planning 40