Worldwide: Audit

Financial reporting increasingly depends on automated systems, making the integrity of Information Produced by the Entity (IPE) critical to audit quality and accurate conclusions. When IPE is incomplete or inaccurate, even well-designed audit procedures can lead to invalid conclusions about control effectiveness and financial statement accuracy.

Organizations face significant financial losses not from traditional procurement fraud, but from hidden relationships and connections they fail to detect. This collection explores emerging threats across multiple domains, from AI-powered cyberattacks exploiting cloud services to procurement vulnerabilities, while examining regulatory changes in healthcare reimbursement, California employment law, and Australian insolvency proceedings.

A midyear review can help identify accounting, tax, and payroll issues while there is still time to address them.

As previously reported, the Department of Labor (DOL) released a proposed rule (Proposed Rule) on January 30, 2026, targeting ERISA disclosure obligations applicable to PBMs. The public comment period closed on April 15, following a 15-day extension, with 564 comments submitted. Below is a summary of some of the key themes we noticed in the comments.

2025 marked a year of transition at the Public Company Accounting Oversight Board (the “PCAOB” or the “Board”), with a newly constituted Board, a new Chair, and a decline in enforcement actions compared to 2024.

An environmental self-audit is a systematic, documented, and objective evaluation of how well an organization, its management systems, and its equipment perform and comply with federal, state, and local environmental statutes, regulations, and permit provisions. When conducted properly, these detailed self-assessments can identify areas of non-compliance, inefficiencies, and opportunities for improvement before they become costly compliance issues. More broadly, environmental self-audits also lead to improved protection of human health and the environment.

California businesses must now complete annual, independent cybersecurity audits to meet California Privacy Rights Act requirements.

The Securities and Exchange Commission (SEC) approved the joint industry proposal (Proposed Amendment), spearheaded by Consolidated Audit Trail, LLC (CAT LLC), to amend the National Market System Plan...

Indirect cost errors can lead to under-recovery, audit findings, repayments, and compliance risk, making proactive monitoring essential for helping safeguard funding and credibility.