PCAOB Hopes Updating Quality Control Rules Will Maybe Prevent Audit Firms From Constantly Breaking Quality Control Rules
From the earliest days of Going Concern until most recently last month, quality control has been a problematic thing for audit firms. For example, the firm that employed the guy who just got the largest fine the PCAOB has ever given to an individual auditor couldn’t get its quality control systems under control: From 2018 […]
The PCAOB Is Sorry for the Mess
With PwC CAKEgate in the rearviewmirror, the PCAOB appears to have taken a look around and decided it wants to tidy up a bit by shuffling around its auditing standards. Naturally, Doty & Co. like to run things by everyone first…everyone who has an opinion anyway: The Public Company Accounting Oversight Board has scheduled an […]
Here’s the New Checklist from the PCAOB
It's been a couple years since the PCAOB issued an auditing standard so I guess they wanted to squeak something in before this Mayan thing took a hold. Shall we cram this in before the fires start? Yes. Let's. Here's a piece of the official screed from the Board: The new standard and related amendments […]