PCAOB to hold round table on auditor’s reporting model

BY KEN TYSIAC

The PCAOB will seek feedback on its auditor’s reporting model proposal during a public meeting to be held April 2–3 in Washington.

Panelists will be invited to share their views with the board on the proposal, which would include a requirement for auditors to identify and describe “critical audit matters” in their reports.

Critical audit matters would be items that caused the auditor the most difficulty in making judgments, obtaining sufficient appropriate evidence, or forming an opinion on the financial statements.

“We received many thoughtful, reasoned comments on the board’s proposal, and this public meeting is intended to further explore the issues,” PCAOB Chairman James Doty said in a news release.

The meeting, to be held at The Westin Washington, D.C., City Center Hotel, will be open to the public and webcast on the PCAOB’s website.

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

CAREER TIPS

CPAs share lessons from dads

To celebrate Father’s Day, the JofA asked accountants across the country to share some lessons they learned from their fathers—especially ones that helped them later on in the accounting profession. Here are their stories.

SPONSORED REPORT

How to audit high risk areas

Revenue recognition, internal control over financial reporting, accounting estimates and going concern are areas of audit that have emerged as particularly challenging and complex.

PRACTICE MANAGEMENT

Q&A: How to determine a client’s price sensitivity

To price effectively, CPA firms first need to determine the price sensitivity of individual clients. Author and consultant Ron Baker, an unabashed value-pricing champion, explains how to do it in this Q&A.