PwC also claimed they were lied to by audit client Yukos for ten years.
FORBES: No Bark, No Bite: PricewaterhouseCoopers Rolls Over To Beat Fraud Cases
My speculation is that this target was Avis Budget Group, another Deloitte audit client.
FORBES: Did Deloitte Compromise Independence in McClellan Insider Trading Scandal?
Does the relationship create a mutual or conflicting interest between the accountant and the audit client?
FORBES: PwC and Thomson Reuters In China, U.K. Business Alliance Violating Auditor Independence
Does the relationship place the accountant in a position of being an advocate for the audit client?
FORBES: PwC and Thomson Reuters In China, U.K. Business Alliance Violating Auditor Independence
Does the relationship result in the accountant acting as management or an employee of the audit client?
FORBES: PwC and Thomson Reuters In China, U.K. Business Alliance Violating Auditor Independence
Omer and Marjorie K. Shelley - examined more than 7, 000 Big 4 audit client engagements between 2006 through 2010.
FORBES: Audit Firm Rotation: Maybe Make A Switch When The Government Takes Over
How can Deloitte maintain its independence at JPMorgan Chase given the number of parties suing its former audit client Bear Stearns?
FORBES: New York Attorney General Sues JP Morgan And Raises Question Of What The "Auditor" Knew
In 2002 the Sarbanes-Oxley act limited what kind of non-audit services an American accounting firm can offer to an audit client.
My story exposing this prohibited activity by an auditor for an audit client was published in this column last March.
Chesapeake Energy, a PwC audit client since its IPO in 1993, made news last week for firing its beleaguered CEO, Aubrey McClendon.
PwC U.S. GCMG performed, over the years, additional consulting and transaction advisory work for Satyam, in spite of their status as an audit client.
FORBES: The Grand Illusion: PwC Settles Satyam U.S. Class Action Claims
Washington Mutual was also acquired by PwC audit client JPMorgan and Merrill Lynch was bought, under duress, by Bank of America, another PwC audit client.
FORBES: New York Attorney General Sues JP Morgan And Raises Question Of What The "Auditor" Knew
Deloitte provided reports of their 10-Q reviews for audit client Merrill Lynch prior to its absorption by Bank of America and for client Bear Stearns prior to its absorption into JPM Chase.
FORBES: Ernst & Young's Liability For Lehman Larger Than Claimed
Notably, EY does not provide signed reports for their 10-Q reviews for audit client UBS. PwC does not provide signed reports for their 10-Q reviews of audit clients JPM Chase or Bank of America.
FORBES: Ernst & Young's Liability For Lehman Larger Than Claimed
Not only was Robert Allgyer, the Andersen partner in charge of Waste Management's audit, also the marketing director for the firm's Chicago office, but he worked for his audit client in another capacity as well.
That type of financial relationship between an auditor and its audit client - or between an auditor and a vendor to its audit client - is prohibited by auditor independence standards except in limited circumstances.
FORBES: PwC Ensures Oscar? Ballot Integrity In 'Partnership' With Everyone Counts, Inc.
According to AICPA rules for auditor independence, PwC can support software development and implementation for its audit client if that system is not the financial accounting software that produces the books and records the firm will audit.
FORBES: PwC Ensures Oscar? Ballot Integrity In 'Partnership' With Everyone Counts, Inc.
McKesson is a Deloitte audit client.
FORBES: Did Deloitte Compromise Independence in McClellan Insider Trading Scandal?
US-based GAAP and SEC reporting experts in the global audit firms review the workpapers behind the filings for every non-US based audit client that is listed on a US stock exchange, all over the world, before any filing with the SEC.
FORBES: A Legal Secret Weapon May Help Hold Deloitte US Firm Liable for ChinaCast Fraud
Auditors have traditionally opposed individual partner signatures for audit reports arguing the engagement partner is already known to the client audit committees and partners already hold themselves accountable to their own own high standards of professionalism and accountability.
FORBES: Auditors and Audit Reports: Is The Firm's "John Hancock" Enough?
Then, after more experience and training, a junior professional may be asked to gather and evaluate documentation from the client as audit evidence.
FORBES: PricewaterhouseCoopers Will Go To Trial In California Overtime Case
However, the new whistleblower bounty exclusion does not pertain to illegal acts or violations of securities laws related to the audit itself, the firm, or the team conducting the audit but only to acts by the client and directors.
FORBES: Mind On The Money: The Dodd-Frank Whistleblower Provisions
Except for the brief period of mutual antagonism after the passage of the Sarbanes-Oxley Act in 2002, auditors behave more than ever as if their client is management, and now the Audit Committee, rather than investors.
FORBES: House of Lords Skewers Auditors; Over To You, Congress
The priority for audit firms should be to assess the legwork and risk involved in auditing each client and to charge the difficult ones a hefty premium.
应用推荐