TPA addresses use of current auditing standards for audits of prior periods

The AICPA has issued nonauthoritative guidance addressing the use of current auditing standards for audits of prior periods.

According to Technical Question and Answer (TPA) 8100.03, when an auditor is engaged to perform an audit of financial statements that are as of or for a period that ended prior to the effective date of the clarified auditing standards, an auditor may perform and report on an entity’s prior-period financial statements using the clarified auditing standards even though the standards were not effective for that prior period.


News quiz: College debt, stolen identities, and retirement planning

See how much you know about these developments and others in the Journal of Accountancy news quiz.


Preventing and detecting fraud at not-for-profits

Organizations in all industries must deal with the potential for fraud to occur, and design controls to prevent and detect it. Environment, policies, and controls can help organizations steer clear of problems.


The dangers of dabbling

To meet evolving marketplace needs, CPAs often look to diversify their service offerings. Firms can mitigate the risk of experiencing competency-related professional liability claims by implementing these basic steps.