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.

SPONSORED REPORT

Post-busy season checklist

Now that tax season is over, pause for some introspection to guarantee that next year’s busy season is even better. Bonus: “Dirty dozen” scams list to share with your clients. Sponsored by Thomson Reuters, Bloomberg BNA, Bloomberg BNA // Software and Wolters Kluwer.

QUIZ

News quiz: Risks are top of mind in finance

Americans are worried about risks to their financial security. Accountants also see risks to their organizations and their careers. See how much you know about recent news and reports with this quiz.

CHECKLIST

Auditing risks in culture

Cultural flaws can seriously damage an organization. Here’s how internal auditors can reduce risks by embedding culture audits into existing audit programs.