PCAOB to consider related-parties re-proposal

BY KEN TYSIAC

The PCAOB will meet Tuesday to consider re-proposing an auditing standard on related parties.

PCAOB member Jay Hanson said Thursday that the board is making the second proposal in response to comments it received on the first proposal, which was made Feb. 28, 2012.

More comments will be sought on the Related Parties standard if the re-proposal is approved.

The re-proposed standard and amendments would change requirements for auditor performance in areas that could pose significant risks of material misstatement in company financial statements.

In addition, the PCAOB will consider related amendments, including those regarding significant unusual transactions.

The meeting, scheduled for 9:30 a.m. Tuesday, will be webcast on the PCAOB website.

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

CHECKLIST

Boost your LinkedIn profile

LinkedIn is No. 1 when it comes to business-related social media. Be prepared when an unexpected career opportunity arises by following these tips for keeping your LinkedIn page current.

PRACTICE MANAGEMENT

Millennial women: How to woo a new generation of employees

Ambitious, educated, and tech-savvy, Millennial women make ideal employees. Win them over with flexibility and clear paths to advancement.

PROFESSIONAL ISSUES

Belicia Cespedes: A CPA at 17

Through hard work and determination, Belicia Cespedes earned the credential before she was even eligible to vote.