Costs of company inspections continue to be high, a US accounting watchdog
has said, because the inspections, required by the
Act, are not as efficient as they could be.
Chairman of the Public Company
Accounting Oversight Board, Mark Olson, said the board was ‘not sure that
the efficiencies have been fully implemented’ a year after issuing the
guidelines, the Financial Times reported.
Auditing firms around the world complained bitterly after the Act was passed,
because it resulted required an external auditor to check executives’ own
internal controls, resulting in significantly extra workloads.
Guidance from the PCAOB was criticised for being ‘vague’ over the matter.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned