Amanda Iacone

The Big Four accounting and advisory firms are committing to their AI strategies even as the technology’s top developers sound the alarm on the potential safety risks.

Investor groups and US audit firms called for clear rules of the road around the use of artificial intelligence to vet corporate accounting for revenue and asset values that drive stock prices.

The SEC has launched a new unit dedicated to investigating corporate accounting fraud, financial reporting lapses, and audit failures — some of the most complex cases the Wall Street watchdog handles.

Accounting rules for off-balance-sheet entities, like the ones Big Tech giants are using to finance AI data centers, have evolved since Enron's collapse 25 years ago. But they still run the risk of presenting a misleading financial picture.

After a string of scandals, the Australian government has set its sights on changing the culture of the Big Four accounting and consulting firms. Its success, however, will rest on its power to enforce regulations that encourage ethical behavior, lawmakers and an industry observer said.

Deloitte auditors around the world now have access to a new suite of advanced AI agents that can scan media reports for emerging threats and produce first drafts of staff memos.

The senior US audit board leader responsible for drafting an overhaul of firm governance rules and other major standard changes is stepping down, the regulator said Friday.

KPMG’s embattled Australian affiliate will look beyond its partnership ranks as it searches for a new chair and a slate of independent board directors, as part of a restructuring bid meant to stabilize the firm and quell an uproar following alleged ethics breaches in its audit practice.

Global investment powerhouse KKR & Co. will acquire a “significant” equity stake in Crowe LLP, a top 20 accounting firm, the two firms said Thursday.

The US audit board, under new leadership, is moving to amend the 2024 overhaul of its quality control standard, targeting provisions that accounting firms have flagged as stumbling blocks to adopting the foundational rule changes by year’s end.