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Auditor independence


KPMG Settles SEC Charges Over Violating Auditor Independence Rules

KPMG LLP has agreed to shell out $8.2 million to settle charges from the US Securities and Exchange Commission, which found that the Big Four firm violated auditor independence rules by providing certain nonaudit services, such as bookkeeping, to affiliates of companies whose books KPMG was auditing.

PCAOB Expected to Reexamine Audit Transparency Proposal

In an effort to bring greater transparency to public company audits, the PCAOB may reexamine a proposal before the close of 2013 that could require disclosure of the audit engagement partner's name in the audit report.

PCAOB Report Highlights Deficiencies in Broker-Dealer Audits

Officials from the Public Company Accounting Oversight Board (PCAOB) said on August 19 that deficiencies were found in all sixty of the broker-dealer audits conducted by audit firms that the PCAOB inspected last year – and in 95 percent of the individual audits selected for inspection.

PCAOB Hears Views on Mandatory Firm Rotation

At the third public meeting on auditor independence and audit firm rotation held October 18, panelists and speakers examined the PCAOB's 2011 concept release on ways to enhance auditor independence, objectivity, and professional skepticism.

New Webinar: 'Skepticism and the External Auditor'

The latest webcast in the NACD-developed Skepticism Series to Combat Fraud has just been released. "Skepticism and the External Auditor" is part two of the five-part series of webcasts.

PCAOB October Public Meeting Agenda

The PCAOB has announced the panelists and schedule of appearances for its October 18 public meeting in Houston. Topics include ways to enhance auditor independence, objectivity, professional skepticism, and firm rotation.
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