Audit

Not every audit will save a dollar, but paying for check-ups will stem further expenses, industry veterans say.

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

The HUD inspector general is conducting a wide-ranging audit into how Buffalo's public housing authority spent tens of millions of dollars over the past two years.

Auditing firms cannot be expected to root out evil, or to conduct full forensic investigations.

A federal judge ruled PricewaterhouseCoopers was negligent in its audits of Colonial Bank, which failed in 2009 in the midst of the financial crisis, potentially exposing PwC to heavy damages.