Amanda Iacone

PwC’s top US audit leader is backing efforts to reform accountant licensing requirements by swapping college credit hours for more on-the-job experience.

The US audit board approved a $399.7 million spending plan that would maintain its current staffing into 2025 while continuing to upgrade technology tools available to its staff.

A hotly contested proposal that would require auditors to dig far deeper into their clients’ potential lawbreaking activities won’t be finalized this year, the US audit regulator said on Friday.

Metrics like free cash flow; adjusted net income; and earnings before interest, taxes, depreciation, and amortization are ubiquitous in corporate earnings reports. Now the US accounting standard-setter wants to know if they should be part of financial statements too.

A member of the US audit regulator who has been critical of its rule-writing agenda said she is hoping for more allies on the oversight board under the incoming Trump administration.

The US audit regulator is racing to wrap up a handful of rule-writing projects by the end of the year, including a plan that would force auditors to dig deeper into possible corporate lawbreaking.

California regulators are prepared to walk away from strict licensing rules that require accountants to earn the equivalent of five years of college to qualify.

PwC, echoing its Big Four competitors, reported slower global growth in 2024 as demand for consulting work waned and revenues shrunk in its troubled Australia and China businesses.

Firms that fund drug research and an international development lender urged the US accounting standard setter to draw a sharper distinction between complex derivatives and certain common financing arrangements.

Ernst & Young has unveiled a marketing campaign with a new motto meant to underscore global CEO Janet Truncale’s vision for a unified firm and re-energize its brand after a failed spin-off plan.