Auditing


The ASB issues Statement on Auditing Standards no. 100, Interim Financial Information, replacing SAS no. 71, with the same title. The new standard provides additional guidance on performing reviews of interim financial information and incorporates the SEC’s requirement for timely filing of interim data. It also includes recommendations from the Public Oversight Board’s Panel on Audit Effectiveness and from the AICPA professional issues task force’s Practice Alert 2000-4, Quarterly Review Procedures for Public Companies. Copies of the SAS (product no. 060702) can be ordered from the AICPA at 888-777-7077.

The accounting and review services committee issues Statement on Standards for Accounting and Review Services no. 9, Omnibus—2002, which includes revisions to previously issued statements. The new release amends SSARS no. 1, Compilation and Review of Financial Statements, in several respects; provides guidance related to SSARS no. 4, Communications Between Predecessor and Successor Accountants; and clarifies the relationship between the effectiveness of quality control systems and the performance of an engagement according to applicable professional standards. Copies of the statement can be ordered from the AICPA at 888-777-7077.

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TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.