Toshiba Said to Face U.S. Probe over Westinghouse Accounting

Toshiba Corp. is under investigation by the U.S. over allegations that it hid $1.3 billion in losses at its nuclear power operations, according to two people familiar with the matter. Shares plunged in Tokyo.

PCAOB Sanctions Broker-Dealer Audit Firms

The Public Company Accounting Oversight Board announced settled disciplinary orders Tuesday sanctioning five audit firms for violating independence requirements in connection with audits of brokers and dealers.

SEC OKs Increase in PCAOB Accounting Support Fee

The Securities and Exchange Commission has approved a 2016 budget for the Public Company Accounting Oversight Board of $257.7 million, a 3 percent increase over last year, and a 12 percent increase in the accounting support fee to $253.3 million.

IIA Offers Advice on Motivating Internal Audit Staff

The Institute of Internal Auditors Research Foundation has issued a new report offering strategies for motivating internal audit staff, including dealing with generational differences.

BDO, RBSM Top 2015 Audit Client Scorecard

Mergers and deregistrations spark many moves

Internal Audit Increasingly Proves Its Value

The internal audit function is increasingly providing significant value, according to a new report by PricewaterhouseCoopers.

KPMG Recruits IBM Watson for Cognitive Tech Audits, Insights

KPMG and IBM announced plans to apply IBM’s Watson cognitive computing technology to KPMG’s professional service offerings, with a focus on auditing services.

Boards Rely on Accountants for Help with a Crisis

The finance and accounting function can play a critical role in helping organizations navigate through a crisis.

Expected Credit Loss Model Could Challenge Auditors

The International Auditing and Assurance Standards Board has released a publication describing some of the audit issues arising from the shift to Expected Credit Loss models when accounting for loan losses under new accounting standards.

Regulators Prod Audit Firms to Improve Quality by 2019

The six largest audit firm networks have agreed with international audit regulators on a new initiative to achieve a measurable reduction in audit deficiency findings by 2019.