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Audit fees edged up from 2020 to 2021

Average audit fees rose a slight 2.5% from $2,600,677 in 2020 to $2,666,659 in 2021, reflecting increased demands on auditors.

New yorkUnited statesAndrej suskavcevicFinancial education research foundationFinancial executives international education research foundationFinancial executives internationalFinancial educationResearch foundationFinancial reporting insights conferenceFinancial reporting insightsAudit preparationAudit softwareFinancial reporting

IAASB proposes changes in audit evidence standard

The International Auditing and Assurance Standards Board is looking for feedback on updating one of its fundamental standards.

Tom seidensteinInternational standard on auditingPublic company accounting oversight boardInternational federation of accountantsInternational auditingAssurance standards boardInternational standardAudit evidenceInternational federationAudit standardsAudit preparationInternational accounting

PCAOB levies biggest-ever individual fine on auditor

A New York CPA was hit with a $150,000 penalty and barred from association with a registered firm for misleading board inspectors and investigators.

New yorkUnited statesJonathanb taylorGeorge choundasMichelle jaconskiThomas barryRaymond hammC ian andersonMark adlerSpielman koenigsberg parkerDivision of enforcementPublic company accounting oversight boardAudit preparation

Depositors blame bank failures on audit firms

Banking depositors perceive failures at financial institutions as failures on the part of auditors, reducing their assessment of the credibility of an auditing firm.

Czech republicUnited statesMatthew beckAllison nicolettiSarah stuberUniversity of kansasAmerican accounting associationTexasam universityUniversity of pennsylvaniaAccounting reviewAudit preparation

Deloitte updates audit committee guide

The document includes new tools and resources on committee requirements, oversight responsibilities and strategies for promoting effectiveness.

Krista parsonsBrent lewin bloombergYork stock exchangeAudit committeeExchange commissionNew york stock exchangePublic company accounting oversight boardBoard effectiveness at deloitte toucheCommittee guideBoard effectivenessCompany accounting oversight boardAudit preparation

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