Topic
Audits
355 published works
Securities Law Prof Blog
SEC Solicits Additional Comments on Auditing Standard 5
The SEC published a notice of additional solicitation of comments on proposed rules (PCAOB-2007-02) submitted by the Public Company Accounting Oversight Board which were previously published on June 12, 2007.…
Securities Law Prof Blog
Cox Reviews New Auditing Standard with Audit Committee Members
SEC Chair Cox, in Remarks to the Annual Meeting of the Association of Audit Committee Members on June 1, walked through the improvements to PCAOB's new auditing standard that will…
Securities Law Prof Blog
PCAOB Eases Auditing Standard on internal Controls
PCAOB voted to reduce the costs of auditors' internal controls reviews mandated by Sarbanes Oxley section 404. The changes are subject to SEC approval, which earlier this week issued management…
Securities Law Prof Blog
Opening Remarks from SEC Open Meeting on Internal Controls
Excerpts from Statement by SEC Staff: SEC's Proposed Interpretive Guidance to Management for Section 404 of Sarbanes-Oxley Act, by Zoe-Vonna Palmrose, Deputy Chief Accountant, U.S. Securities and Exchange Commission, SEC…
Securities Law Prof Blog
SEC Post Information on Audit Independence
Just posted on the SEC website: The Sarbanes-Oxley Act of 2002 mandates that audit committees be directly responsible for the oversight of the engagement of the company's independent auditor, and…
Securities Law Prof Blog
Plenty of Blame to Go Around
Last December Fannie Mae sued its former auditor KPMG for malpractice, seeking to recover the millions it paid in auditing fees during the period when Fannie Mae's financial statements misstated…
Securities Law Prof Blog
SEC Endorses Recommendations to Ease 404 Controls
At an open meeting today, the SEC's Commissioners today endorsed the recommendations of the agency's professional staff to eliminate waste and duplication in the Sarbanes-Oxley compliance exercise, in a move…
Securities Law Prof Blog
GAO Report on SEC Internal Controls
The Overnment Accountability Office issued a report on April 3 to discuss issues identified during its fiscal year 2006 audit of the SEC concerning internal controls and accounting/operational procedures that…
Securities Law Prof Blog
SEC Open Meeting on Proposed 404 Auditing Standard
The Securities and Exchange Commission announced it will hold an open meeting on April 4, 2007, to discuss the Public Company Accounting Oversight Board’s (PCAOB) proposed auditing standard for Section…
Securities Law Prof Blog
Lawsuit Challenging PCAOB Dismissed
A D.C. Federal District Court dismissed a constitutional challenge to the PCAOB. The suit asserted that the Board's members must be appointed by the President and not the SEC, as…