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Broker-Dealer Audits Still Badly Broken

On August 19, 2013, the Public Company Accounting Oversight Board, the audit industry regulator, released its second report on its interim inspection program for auditors of brokers-dealers registered with the Securities and Exchange Commission. The PCAOB’s second “progress” report...

Call of Duty: Who Has The Last Word On “Network” Audits of US-Listed Companies?

On December 4 the PCAOB re-proposed a rule to require public companies to disclose the engagement partner’s name for the most recent period’s audit and the names, locations, and extent of participation of other public accounting firms that supported the completion of the audit. There are...

When Auditors Get Mixed Up in M&A, Smaller Clients Get Hurt

Over at Medium.com I’ve written about a new academic study, Shared Auditors in Mergers and Acquisitions , that documents an interesting, rarely commented on auditor conflict of interest. The data suggests that when an acquiring company and its target share the same auditor, the audit firms favor...