By Dan Goelzer
In 2015, the Public Company Accounting Oversight Board adopted a rule requiring accounting firms to make a filing disclosing the name of the engagement partner…
On June 4, the SEC announced that it had removed William Duhnke from his position as Chair of the Public Company Accounting Oversight Board. One of the other Board members, Duane Desparte, was appointed…
By Daniel L Goelzer
Audits often uncover financial reporting mistakes. When a misstatement is detected, the auditor proposes to company management an adjustment to correct the error. However, in the case of adjustments that…
Two researchers at the University of Arkansas have published a paper finding that audit firms that report material weaknesses in a client’s internal control over financial reporting (ICFR) pay an…
By Dan Goelzer and Tom Riesenberg
It has often been said — and we fully agree — that auditor independence is essential to the…
In 2002, the Sarbanes-Oxley Act created the Public Company Accounting Oversight Board and transformed public company auditing in the United States from a self-regulated, to a regulated, profession. The PCAOB’s statutory mission is to “further…