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An incorrectly formatted spreadsheet caused Iceland to price the sale of its Islandsbanki stake too cheaply earlier this year, an investigation by the National Audit Office has found.
Average audit fees rose a slight 2.5% from $2,600,677 in 2020 to $2,666,659 in 2021, reflecting increased demands on auditors.
A recent study says that when auditors are given tools that they believe are more sophisticated, they are more likely to bias their evaluations towards what their supervisor wants.
The Public Company Accounting Oversight Board has again rejiggered its standard-setting and research agendas, adding three new projects.
The add-on aims to help manage downstream risks from third parties.