Auditing

The new standard on confirmations is the first project the board saw through from start to finish with Williams as PCAOB chair.

The practice aid is among numerous resources the AICPA provides to help firms successfully implement the QM standards.

BDO USA was fined $2 million and two of the firm’s partners were fined a total of $60,000 for failures in the 2017 audit of AAC Holdings.

These additions are designed to both improve the way accounting teams work and enhance their professional development.

However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% in the U.S.

Britain’s accountants, auditors and advisers are clinging to their jobs, nervous that their negotiating power has sharply dropped.

The proposal would hold auditors and others more accountable when they negligently cause their firm to violate auditing standards.

The agency is ramping up compliance efforts against high-income earners, partnerships, large corporations, and promoters.