Posts Tagged ‘critical audit matters’

New Guidance on Critical Audit Matters


Accounting regulators have published new guidance for audit firms about how to disclose Critical Audit Matters they find with corporate clients. Internal audit and compliance managers might want to give the document a read too, since it serves as a quasi-blueprint of how to anticipate delicate subjects in internal control and corporate accounting. CAMs are…

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Hertz, Estimates, and Internal Controls


Who says a government shutdown means no news for internal control and compliance? On New Year’s Eve the Securities and Exchange Commission served up another juicy enforcement action, hitting Hertz Corp. with a $16 million penalty for sloppy accounting practices that led to a financial restatement in 2015. The case is worth a look because…

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PCAOB Inspection Priorities for 2019


The PCAOB has shared its plans for audit firm inspections early next year, with more focus on how audit firms manage their own operations and less perhaps emphasis on specific risk areas such as Brexit, oil prices, or changing interest rates. The PCAOB inspections outlook is useful foremost for audit firms, who want to know…

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Two Issues on SOX Compliance


More than 1,700 audit and compliance professionals have gathered in Nashville this week for Workiva’s annual user conference and the annual meeting of the SOX Professionals Group. Yours truly is on the scene, trying to capture all the good insight and latest news on SOX compliance. Here’s what we have from Day 1. Tuesday was…

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