Chief audit executives (CAEs) are working to expand their roles within their organizations, moving from their traditional focus on compliance to include suggesting ways to improve processes and providing insights that influence strategy, according to a Grant Thornton LLP survey.
The PCAOB released its report on the interim inspection program for auditors of brokers and dealers. It gives an overview of the new program and audit deficiencies identified in the initial group of inspected audits of brokers and dealers.
June 30, the day on which many educational institutions and nonprofits end their fiscal year, is fast approaching. This brings "joy" to many internal accountants because they know that an annual visit from the auditors is just around the corner.
On March 21 and 22, 2012, the PCAOB hosted a public meeting to obtain further input on ways to enhance auditor independence, objectivity, and professional skepticism, including through mandatory rotation, or term limits, for audit firms.