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17 Mar 2011
THE US ACCOUNTING regulator is to investigate audit shortcomings surrounding the financial crisis.
PCAOB chairman James Doty said inspection teams have identified "audit failures" in a number of cases including major financial institutions, The Washington Post reports.
Doty (pictured above) recently told Accountancy Age the profession is going through a "period of self-examination", saying the issue of what auditors do and what people understand about what they do is up for discussion.
Brushing aside complaints of too-big-to-fail firms and market concentration, he says the problem is "practices that dilute audit quality", warning this will take a long time to fix.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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