The new regulations and amendments approved include a requirement that audit firms rotate engagements with public-interest entities every ten years – with provisions for longer periods when engagements are put out for bid or joint audits are performed.
EU leaders have reached preliminary agreement on audit reforms that would include a requirement for audit firms of public-interest entities to rotate after an engagement of ten years – with provisions that could extend that period if the engagement is put out for bid or joint audits are performed.
Emerging markets promise rising consumer demand, but many also harbour serious corruption risks. Find out how the BRICS fare on the 2013 Corruption Perceptions Index and get the rankings for other developed and developing nations.
US regulators are asking whether the increasing provision of non audit and consulting services by audit firms poses risks to audit quality, and the US Public Company Accounting Oversight Board (PCAOB) plans a formal examination of the issue in 2014.
Corporate directors believe regulatory and compliance overload is the greatest risk facing their business, well ahead of cyber threats and corruption, a new survey shows.
Tips to the US Securities and Exchange Commission (SEC) by whistle-blowers rose 8% in fiscal year 2013 over the previous fiscal year, according to an SEC report to Congress.
A survey by the Association for Financial Professionals shows that paper check use has declined over the years but that obstacles remain to going to a more digital model.
Technological advances, from social media to cloud computing, have spawned new potential threats to businesses worldwide – and corporate enterprise risk management (ERM) has evolved to counter them, a Deloitte survey of about 300 executives or board members around the world finds.
A North American survey shows that budgets and staffing are increasing for internal audit. Strategic business risks remain a top priority but still rank low in overall audit plan coverage.
Health-care regulations associated with the US Patient Protection and Affordable Care Act (PPACA) have created new opportunities for internal auditors.
The UK Financial Reporting Council proposed changes to the UK Corporate Governance Code that aim to improve boards’ risk management at listed companies.
CFOs and finance departments may want to undergo a careful evaluation of their financial reporting systems and processes, experts say, now that the US Securities and Exchange Commission (SEC) is ramping up its scrutiny of accounting and auditing.
Accountants are business process experts, but few apply this expertise to avoid the frequent mistakes organisations can make during the implementation of business solutions software, an effort usually dominated by IT experts. Find out how accountants can get involved every step of the way.
Companies in the FTSE 350 will be required to place their audit contracts out for bid every ten years under new rules announced Tuesday by the UK Competition Commission (CC).
After years of rapid growth, economies in some emerging markets have slowed, causing companies to lower their vigilance about fraud, bribery and corruption risks, according to EY research. But there are ways to better manage these risks.
The perception of internal audit as a function that can add value in addition to enforcing compliance is placing importance on several objectives for internal auditors.
