Against that background, they have started a process that they hope will lead to more appropriate and less risky audit practices.
In an effort to restore luster to its name, Andersen added two more gray eminences to an oversight panel charged with reviewing its audit practices.
Cupid's share price collapsed 57% to 49p on Friday after it announced an audit into its business practices.
Barclays' board has launched an audit of its business practices, which will be conducted by an independent body and report to the new deputy chairman, Sir Michael Rake.
Earlier this month, U.K. authorities said Google had broken British law and asked the company to agree to an audit of its data-protection practices.
Earlier this year it agreed to change its labor practices after an outside audit found widespread breaches of work rules, including 60-hour workweeks and regarding health and safety.
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As part of a settlement with the FTC, Facebook agreed to submit to an external audit of its privacy policies and practices every two years for the next 20 years.
Experts from the finance sector, industry, regulatory agencies, government, legal and accounting professions, and academia got together last night at NYU Stern School of Business for a Ross Roundtable to discuss the reemergence of consulting practices in the major audit firms.
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There are many software programs now available that allow companies to audit SEO strategies, and nip bad practices in the bud before they result in harsh consequences.
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Tarrin is accused of engineering the Finance Ministry's takeover of Krung Thai Bank from the Financial Institutions Development Fund in the wake of last year's leak of a PricewaterhouseCoopers audit report that exposed allegedly poor lending practices at the bank.
In addition, we recommend that the PCAOB make this in-depth analysis of audit failures an on-going function of the Board, in order to ensure that changes in policy and oversight practices are adopted in a timely fashion to address correctable weaknesses in the audit process.
Did consulting hero PwC give the same strong advice it gave Bear Stearns in 2006 about best practices for repurchase claims and reserves to its real audit clients JP Morgan Chase, Bank of America, and PNC Bank?
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For example, there are 189 ISO standards for information security, our National Institute of Standards and Technology ( NIST) has produced a full set of world-class materials on information security, and the Information Systems Audit and Control Association ( ISACA) has developed its best practices, the Control Objectives for Information Technology ( CobiT).
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"No one solution will achieve market correction, but rather a combination of tendering requirements, encouragement of transparency and dialogue between auditors, companies and investors, and reform of outdated exclusionary practices should provide a backdrop for a healthier FTSE 350 audit market, " said Simon Michaels, managing partner at BDO.
While the audit, by Alpern Rosenthal, found the non-profit to be relatively healthy, a slew of practices were red-flagged, some potentially opening the organization to lawsuits.
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