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Cooley LLP

SEC Chief Accountant issues statement on tone at the top

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In this statement, SEC Chief Accountant Paul Munter discusses the importance of setting the tone at the top. According to Munter, “academic research has ‘long stressed the crucial role that tone at the top, set by...more

Hogan Lovells

Disciplinary, litigation risk - AFRC highlights skill shortage in Hong Kong public interest entity audits

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The Accounting and Financial Reporting Council (AFRC) has published its first report on the public interest entity (PIE) audit market in Hong Kong. Reviewing its own survey of PIE auditors, the report highlights high vacancy...more

Cooley LLP

CAQ’s 2024 audit committee practices report discusses priorities and practices

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The Center for Audit Quality has released its 2024 “Audit Committee Practices Report: Common Threads Across Audit Committees.” The report highlights the top five audit committee priorities identified by committee members in...more

Ankura

Economic Crime and Corporate Transparency Act 2023: Key Considerations for Addressing Failure to Prevent Fraud

Ankura on

The Economic Crime Bill received Royal Assent on 26 October 2023. Included in the Act is the failure to prevent fraud offence, under which large companies will be liable when a specified fraud offence is committed by an...more

Cooley LLP

SEC approves new PCAOB requirements for lead auditor’s use of other auditors

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At the end of last week, the SEC approved the PCAOB’s updated standards for audits that involve multiple auditing firms. SEC Chair Gary Gensler said that the amended standards “will strengthen the requirements for lead...more

Cooley LLP

Blog: Should the prospect of CAM disclosures cause audit committees to rethink company disclosures?

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What are auditors and audit committees doing to get ready for the impending disclosure of CAMs in audit reports ? You remember that, under AS 3101, the new auditing standard for the auditor’s report, auditors will be required...more

Cooley LLP

Blog: Report On International Disclosure Of “Key Audit Matters”

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This study conducted by the Association of Chartered Certified Accountants reports on the results of a year of international reporting of “key audit matters,” the International Auditing and Assurance Standards Board’s analog...more

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