Countries and jurisdictions throughout the world mandate that entity financial statements be prepared using International Financial Reporting Standards, and that audits be conducted in accordance with International Standards on Auditing. Although the use of IFRS and ISAs isn’t mandated in countries such as the U.S., in our increasingly global economy, many accounting firms must now be able to address the needs of clients with reach outside the primary country in which they operate.

Cloud-based audit confirmation software developer Capital Confirmation has raised $60 million to fund “aggressive international expansion.”

While putting the final touches on audit work papers and reports may feel like a huge relief, an auditor’s work isn’t finished.

Deloitte LLP and firm partner John Clennett got a record fine in the United Kingdom for misconduct after the U.K.’s accounting regulator said the audit and financial statements of Aero Inventory Plc fell short of acceptable standards.