We knew this was coming. Bloomberg has reported that Silicon Valley Bank auditors KPMG have […]
Tag: Audit reports
KPMG Offering Expanded Audit Reports Because Regular Audit Reports are Useless
As part of its campaign to restore trust in audit in the wake of the […]
It’s Completely Understandable Someone Might Sign Over 200 Audit Reports By Mistake
The LOLs just keep coming from across the pond — why doesn't the AICPA make […]
Auditors Tell PCAOB They’d Rather Not Report on the Already Reported On
Back in August of 2013, the PCAOB floated a few new auditing standards that would […]
Audit Partners Are About to Get Famous
But probably not in ways they would prefer:
In a recently updated standard-setting agenda, PCAOB Chief Auditor Marty Baumann says the board is working on the proposal to address concerns about audit transparency. The board published a concept release in July 2009 that asked for feedback on whether the engagement partner should be required to sign the audit report. Based on feedback to that release and subsequent discussions with the board’s advisory groups, the PCAOB is preparing a new requirement for audit firms to say in their audit reports which engagement partner at the firm supervised the audit and who from outside the audit firm participated in the audit.
Quote of the Day | 01.25.10
“An auditor’s report tells less about a public company’s health than a doctor’s report tells about an individual – in scope, detail and precision. And if investors and other financial information users are not happy, they are doing nothing to make their dissatisfactions effectively known.”
~ Jim Peterson, from his post “Medical Check-Ups and Annual Audits: What if Your Doctor Reported Like Your Accountant?” at Re:Balance.