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.
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.
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.
The Institute of Internal Auditors Research Foundation has issued a new report offering strategies for motivating internal audit staff, including dealing with generational differences.
Mergers and deregistrations spark many moves
The internal audit function is increasingly providing significant value, according to a new report by PricewaterhouseCoopers.
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.
The finance and accounting function can play a critical role in helping organizations navigate through a crisis.
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.
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.