auditors

auditors

New Financial Audit Standard Encourages More Talking

New Financial Audit Standard Encourages Oversight The Public Company Accounting Oversight Board on Financial Audit (PCAOB) today approved a standard on how to help auditors and audit committees communicate better. While Auditing Standard No. 16 (dubbed Communication with Audit Committees) still has to be approved by the Securities and Exchange Commission, the formal adoption of the …

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Financial Auditor RFP Not Mandatory Rotation

Should we have mandatory Financial Auditor rotation? When Congress was deliberating the Sarbanes-Oxley Act in 2002, it considered a requirement that all public companies change (or “rotate”) their Financial Auditor every five years. Congress ultimately decided against mandatoryFinancial Auditor rotation, but it did require mandatory partner rotation — in which the lead partner rotates every five years in …

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Internal Auditors Need More Support from Management

Internal auditors feel they need more visible and vocal support from senior managers within their organizations as changing demands put them under more pressure, according to a new survey. The survey, by Thomson Reuters, found that the increasing amount of regulation, renewed focus on fraud and corruption and heightened scrutiny around risk management from executives, …

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