Should the PCAOB be disbanded? A board member's surprising take
How PCAOB inspections favor big accounting firms and burden smaller ones
Is the PCAOB's 46% audit deficiency rate misleading investors?
Benjamin F. Borgers surrenders Colorado CPA license
How PwC facilitated Evergrande's massive fraud
Chinese regulators have hit PwC China with a six-month suspension and a record 441 million yuan ($62 million) fine for audit failures related to Evergrande. Once a major player in China's property market, Evergrande defaulted and filed for bankruptcy after years of fraudulent activity overlooked by PwC. This case underscores the critical importance of auditor independence and skepticism, highlighting severe consequences when these principles are ignored.
Tether's $109 billion question: Where's the audit?
1,500 bogus audits. A $14 million fine. A lifetime ban from the SEC. But no jail time?
Why fines don't deter auditor misconduct
A small audit firm with only one CPA on the website takes on a multi-billion dollar client. The client turns out to be a fraud. And the auditor? They face a measly $65,000 fine, less than the fees they earned from the audit. It's a true story that David and I shared on The Accounting Podcast. And it's just the tip of the iceberg when it comes to the lack of accountability in the auditing profession.
