Search Results for: National Audit Office
SEC: Grant Thornton Ignored Red Flags in Audits
December 3rd, 2015
The Securities and Exchange Commission announced that national audit firm Grant Thornton LLP and two of its partners agreed to settle charges that they ignored red flags and fraud risks while conducting deficient audits of two publicly traded companies that ...
The accounting trick that helps multinationals avoid paying tax
October 30th, 2015
Chevron Australia’s aggressive tax strategies have resulted in an additional $322 million tax bill, but this may only be the beginning of the energy giant’s woes with the Australian Taxation Office. And others could face the same headache. The ...
Deloitte wins ‘Audit Innovation of the Year’ at 2015 International Accounting Bulletin awards
October 5th, 2015
Deloitte’s commitment to leading the profession in audit quality has been recognized with International Accounting Bulletin’s prestigious “Audit Innovation of the Year” award for its demonstrated dedication to innovation and the development of leading-edge tools to transform audit service delivery. International ...
Federal Court Orders Futures International LLC and its Chief Operating Officer, to Pay $500,000 Penalty
September 28th, 2015
Federal Court in Illinois Orders Futures International LLC and its Chief Operating Officer, Amedeo Cerrone, to Pay $500,000 Penalty for Recordkeeping Violations, False Statements, Unauthorized Trading, and Supervision Failures The U.S. Commodity Futures Trading Commission (CFTC) today announced that ...
SEC Charges BDO and Five Partners in Connection With False and Misleading Audit Opinions
September 10th, 2015
The Securities and Exchange Commission today charged national audit firm BDO USA with dismissing red flags and issuing false and misleading unqualified audit opinions about the financial statements of staffing services company General Employment Enterprises. The SEC also charged ...
Australia: Multinationals face tax avoidance crackdown
May 11th, 2015
The Abbott government will legislate to crack down on tax avoidance by 30 multinational companies, with planned penalties for diverted profits that “will go further” than action taken by the United Kingdom. Announcing measures to be taken in tomorrow’s ...
Baker Tilly International Reports 5% Increase In Global Revenues
February 2nd, 2015
Baker Tilly International has reported annual revenues of US$3.6bn for the financial year ending 30 June 2014, a year-on-year increase of 5%. The network’s ranking has been maintained as the world’s 8th largest accounting and business advisory network. Commenting ...
Joe Hockey announces profit-shifting tax audit of 10 multinationals
December 9th, 2014
Australia will consider passing stronger laws against tax avoidance, the treasurer says, as tax office ‘embeds’ staff within companies The Australian Tax Office is auditing 10 multinational corporations and the government will consider introducing new laws aimed at targeting ...
7 risk areas for the 2014 audit cycle
December 5th, 2014
Revenue recognition, internal control over financial reporting, and professional skepticism are among the seven key areas for 2014 audit consideration, according to an alert sent Thursday by the Center for Audit Quality (CAQ). The alert is designed to help ...
China Auditor Blames CIC Mismanagement for Investment Losses
June 18th, 2014
Mismanagement at China Investment Corp., the nation’s $575 billion sovereign wealth fund, led to overseas investment losses that could widen, according to the National Audit Office. A dereliction of duty by managers, inadequate due diligence and post-investment management were ...
