Responding to a U.S. government audit, Boeing said Tuesday that it would work with employees found to have violated company manufacturing procedures to make sure they understand instructions for their jobs. The aircraft maker detailed its latest steps to correct lapses in quality in a memo to employees from Stan Deal, president of Boeing’s commercial […]
PricewaterhouseCoopers’ (PwC) branches in China and Hong Kong received $7 million in fines after a U.S. regulator found they did not prevent cheating in their internal employee exams. The Public Company Accounting Oversight Board (PCAOB) said on Nov. 30 that hundreds of individuals at PwC China and PwC Hong Kong engaged in training exam misconduct, […]
Merck shareholder the National Legal and Policy Center (NLPC) organization has presented a “Communist China Audit” proposal to the company. This comes as pharmaceutical company Merck’s business in China has grown rapidly in the past few years. The company rejected the proposal saying it has already reported the relevant information to the SEC, but Paul […]
Audit giant KPMG is standing by its audits of Silicon Valley Bank (SVB) and Signature Bank, which collapsed when customers rushed to withdraw their savings in panic-fueled bank runs. The two banks failed not long after their respective annual reports were certified by KPMG, one of the so-called “Big Four” accounting firms, a list that […]
The IRS is continuing its historic trend of pursuing more low-income groups as relatively fewer billionaires and millionaires have come under its audit sweep, according to a recent report by Syracuse University’s Transactional Records Access Clearinghouse (TRAC). During fiscal year 2022, millionaires “did have the highest odds of being audited. However, if one ignores the […]
While conducting a safety audit of schools in Uvalde, Texas, an inspector posing as an intruder was able to gain access to a school cafeteria through a door that did not properly lock, the school district’s superintendent said at a school board meeting Monday. Auditors tested three schools in Uvalde in December, and while two […]
The United States is receiving full access to inspect and investigate accounting firms in China for the first time, according to the nation’s top auditor. The U.S. Public Company Accounting Oversight Board (PCAOB) said on Dec. 15 that it obtained full access to firms in China after years of refusals by the Chinese Communist Party […]
The Internal Revenue Service reminds taxpayers to report transactions of at least $600 made through payment networks like Venmo, Paypal, and Cash App as the agency seeks to obtain data regarding part-time employment and side gigs, a move that critics have termed government overreach. In a recent explainer posted online, the IRS said that according […]
The SEC has issued a $20 million fine against Deloitte-China, for failing to comply with U.S. audit requirements. In a Sept. 29 announcement, the Securities and Exchange Commission (SEC) penalized Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte-China) for “failing to comply with fundamental U.S. auditing requirements in its component audits of U.S. issuers and […]
A Delaware judge has ordered Twitter to turn over more data to Elon Musk in two weeks, but stopped short of giving the Telsa chief all the data he wanted, saying his requests were “absurdly broad.” On Aug. 25, Chancellor Kathaleen McCormick of Delaware’s Court of Chancery ordered Twitter to reveal the data from 9,000 […]
The IRS has said it will “absolutely not” be increasing audit scrutiny on small businesses or middle-income Americans amid concerns over Democrats’ Inflation Reduction Act, which provides nearly $80 billion in IRS funding, including $45.6 billion for “enforcement.” IRS Commissioner Charles Rettig made the comments in a letter to members of the Senate on Aug. 4 (pdf) in […]
Georgia’s Secretary of State Brad Raffensperger has referred 1,634 cases of non-citizens attempting to register to vote for investigation and potential prosecution. Attempting to register to vote while knowingly being ineligible is a violation of Georgia law. A citizenship audit conducted by Raffensperger over the past few weeks, which he claims was a first for […]
A new Pentagon audit of last year’s U.S. military-led civilian evacuation of Afghanistan found that dozens of Afghans considered potentially dangerous were brought to the United States. According to the Department of Defense (DoD) Inspector General report (pdf) published Tuesday, DoD’s National Ground Intelligence Center (NGIC) has identified “50 Afghan personnel in the United States […]
The U.S. Securities and Exchange Commission (SEC) on Thursday finalized rules relating to the Holding Foreign Companies Accountable Act (HFCAA) which would allow it to delist foreign firms from American exchanges if they fail to observe U.S. accounting rules and comply with requests for information from regulators. The bipartisan legislation was signed into law by former President Donald Trump on Dec. 18, 2020, […]
An audit of 2020 election results has been launched in the state of Texas. The Texas Secretary of State’s office is carrying out the forensic audit in four large counties, including Dallas and Harris counties. The office announced the audit last week but declined to provide more details until Tuesday. The office now says phase […]
The large-scale audit of the 2020 election in Maricopa County has been underway for the past five months now. It started all the way back at the end of April. As a part of that audit, the Arizona state Senate has been conducting a hand recount of 2.1 million ballots, looking for any possible I.T. […]
A Pennsylvania senator is preparing to ask a panel he chairs for the authority to issue subpoenas to compel counties to cooperate with his effort to investigate the 2020 election. “We’re eagerly awaiting my committee coming together when I can get a quorum, get everyone’s calendars matched up—it is summertime. As soon as I get […]
In Pennsylvania, where a forensic audit of the election was previously launched, a county informed the state Senate that they are refusing to comply. In Georgia, the House Speaker released an official statement calling on Fulton County election officials to conduct an “Independent, forensic probe” of the 2020 election. In Wisconsin, the head of the […]
The Senate started work on the $1 trillion infrastructure bill. What do they plan to spend the most on? And how do they plan to pay for it?
Tensions are running high in the House and around the country over mask and vaccine mandates as well as potential new lockdown measures. A new mask mandate in the House of Representatives set off a war of words among lawmakers.
The auditors have finished counting all of the ballots in Maricopa County, Arizona. That’s while the DOJ warns states not to violate federal law by carrying out audits.
