The PCAOB reminded auditors to be diligent about fraud in a report that draws on important or recurring observations made during the board’s inspection of audit work performed by registered public accounting firms.

The report addresses several topics, including:

Auditors’ overall approach to the detection of financial fraud.

Required brainstorming sessions and fraud-related inquiries.

Auditors’ response to fraud risk factors.

Financial statement misstatements.

Fraud associated with management override of controls.

The report does not change, propose to change or provide new interpretations of any existing standards. The report’s purpose is to generally focus auditors on being diligent about their fraud-related responsibilities and to provide information that audit committees may find useful in working with auditors.

The report is available at


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.