The Securities and Exchange Commission is reportedly investigating former Public Company Accounting Oversight Board chairman, William Duhnke, over his handling of internal complaints. Whistleblowers have alleged that Duhnke created “a sense of fear” and intimidation within the agency, according to reports. The former chairman also came under fire during his Read More
As India strives towards a new age of financial transparency and efficiency, fraud and corruption still pose big threats to economic advancement. In an effort to combat this reality, the Ministry of Corporate Affairs will require more disciplined recording of financial transactions by companies, including a detailed edit log of Read More
Big Four firm KPMG has launched a Board Diversity Disclosure Benchmarking Tool. Powered by data analytics firm Esgauge, the free tool lets corporate leaders, investors, staff, and other professionals compare corporate board diversity practices by sector, stock index, and company size to analyze trends and compare companies. “Diverse boards are more effective, Read More
The American Institute of CPAs and the Center for Audit Quality submitted comments to the Securities and Exchange Commission expressing support for improved climate change disclosures by companies. The SEC requested input regarding expanded climate change disclosure requirements in a public letter in March. The SEC is ramping up its Read More
Democrats in the Senate have called on Google, and its parent company Alphabet, to conduct an internal audit on racial equity. The goal of the requested audit, according to Sen. Corey Booker (D-N.J.), would be to investigate how Google and its products may perpetuate racial bias. “We are concerned about Read More
According to an audit from the Secretary of State, Oregon’s books show the state incorrectly counted billions of dollars in federal funding in 2020, a state government news organization the Center Square reported last week. A total of 14 federal programs incorrectly accounted for $6.4 billion in funds. While the Read More
Laura Soileau, the Institute of Internal Auditor’s (IIA) 2021-2022 North American Board chairperson, said in an article that getting younger individuals hooked on internal auditing is key to the sustainability of the profession. A big focus of Soileau’s in her new role will be investing in the next generation of Read More
Due to inflationary pressures, COVID-19 impacts, and acquisitions and divestitures, external audit fees are expected to increase at many organizations this year, a new survey finds. While the survey, conducted by Gartner, found that 62 percent of companies said they expect their external audit fees to increase this year, it Read More
The Massachusetts Office of State Auditor (OSA) released an audit showing improvements in oversight of lottery sales and game integrity at the Massachusetts State Lottery Commission (MSLC), television news station WWLP reported. The audit, which studied April 2019 through March 2020, found deficiencies in criminal background record checks for lottery Read More
On Friday, the Securities and Exchange Commission announced the removal William Duhnke from the Public Company Accounting Oversight Board (PCAOB) without providing a reason for his dismissal in the official press release. The PCAOB regulates audits conducted on publicly traded companies. Board member Duane DesParte will serve as the acting Read More
