Dan Meyer at Tick Marks has brought my attention to a KPMG survey that reports audit committees are becoming more concerned about IT risks on financial reporting. 90% believed that IT oversight deserved more time at audit committee meetings. By constrast, 80% of committee members were satisfied with audit committee oversight of management judgments and […]
Tag: oversight ↓
IT risks should be a focus">Audit committees recognize IT risks should be a focus
June 24th, 2007 · 2 Comments
Category: Governance
Tags: audit committee, Governance, IT, management, oversight, risk, strategy, Tick Marks
Canadian audit overseer reports problems and solutions
February 3rd, 2007 · 1 Comment
The Canadian audit oversight body, the Canadian Public Accountability Board, announced Friday that last year they deregistered a small firm in Vancouver (which has since gone out of business) and prevented three other small firms from accepting new client due to deficiencies in their audits discovered upon inspection. My initial thought was, these small firms […]
Category: Auditing
Tags: accounting firm, audit, CPAB, oversight, restatement
Canadian bank “shakes” Enron related audit rules
December 31st, 2006 · No Comments
From the (Toronto) Star: Banking authorities in Canada and the United States have lifted an enforcement action that they imposed on the Canadian Imperial Bank of Commerce three years ago over its involvement with Enron Corp. The action put restrictions on CIBC and required it – for the past three years – to pay for an […]
Category: Auditing
Tags: audit, bank, CIBC, Enron, oversight, US
