The PCAOB did identify some deficiencies in their inspection work, but it was able to view complete audit work papers with no redactions.
December 16, 2022The PCAOB reportedly gained all the information it requested during its inspection, but a decision has not yet been made regarding its dispute with Chinese regulators.
November 17, 2022The AFRC can subject auditors who commit misconduct to penalties up to HKD 10 million, or three times profit gained, whichever is higher.
October 5, 2022This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.
June 30, 2022Regulated entities don't require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.
June 29, 2022The interim standard will come into force on 1 January 2023. The RBNZ is also consulting on the penalties and enforcement tools it has available for supervising insurers.
March 11, 2022The FRC will extend the scope of its oversight to all practicing auditors and accountants, instead of just those servicing listed companies.
March 10, 2022Every enterprise will be categorised according to their risk profiles. The grades will be used to signal risk and early warnings.
January 21, 2022The most common auditing irregularities involved failures to perform engagement quality control reviews adequately, and to obtain sufficient audit evidence.
November 9, 2021New powers will allow MAS to issue legally-binding directions to FIs in relation to unregulated business in bitcoin futures and other payment token derivatives traded on overseas exchanges.
July 5, 2021