Auditing


The AICPA governing council authorized the Institute’s board of directors to work with the public company auditing profession and others to implement a new approach to better address public policy issues affecting the public interest for U.S. audit firms registered with the PCAOB. The Institute will implement a framework for the project in the spring.

The AICPA Accounting and Review Services Committee asked members, their clients and other users of compiled financial statements to complete a survey of their views on the need for independence when performing compilation engagements ( www.aicpa.org/members/div/auditstd/index.htm ).

Among other questions, the survey asks—since a compilation does not express any assurance—whether a practitioner should be independent when performing compilation services and, when independence has been impaired, whether the practitioner should be allowed to describe the impairment’s cause. Responses are due May 19, 2006, at which time the committee will decide whether to undertake a project to amend current independence requirements.

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

COLUMN

Deflecting clients’ requests for defense and indemnity

Client requests for defense and indemnity by the CPA firm are on the rise. Requests for such clauses are unnecessary and unfair, and, in some cases, are unenforceable.