Whether it means taking external auditors into executive session or getting candid opinions on staff, audit committee members need to provide strong oversight to help the organization thrive and survive.
Audit committees have new information to consider as a result of a new PCAOB rule requiring the naming of the engagement partner and other firms participating in the audit.
Embracing technology and making changes in your firm now will help your firm succeed in the future as new technologies enable auditors to provide more value to clients.
Attention to the right details during planning can save time and enhance audit quality.
Auditor’s reports will provide more information to financial statement users under new rules.
Steer clear of three common misconceptions about documentation that can derail an otherwise high-quality audit.
Standardizing data can improve efficiency of the audit process.
The board has proposed requiring auditors to provide information on the most challenging, subjective, or complex aspects of an audit.
The AICPA ASB issued an interpretation that describes conditions for practitioners who wish to perform and report on an attestation engagement in accordance with AICPA attestation standards in addition to another set of attestation standards.
Risk assessment procedures, auditor communication requirements, and revenue recognition are among the many complex areas that auditors need to consider carefully in their planning and throughout the audit.
The AICPA has issued new TQAs about controls relevant to the audit and control activities relevant to the audit.
This column offers tips to help make year-end financial statement audits more effective and less challenging.
An ASB proposal would change standards for auditors reporting on financial statements of ERISA employee benefit plans.
Requirements for auditors related to competence, continuing professional education, auditor independence, and other topics would change under revisions to Government Auditing Standards proposed by the U.S. GAO.
Basic analysis of the inventory process can become easier through use of a new audit data standard issued by the AICPA Assurance Services Executive Committee.
As technological innovations change the way audits are performed, auditors need to be ready to use new tools to gain insight from data.
Deloitte’s efforts are aided by a mechanism for generating ideas, strategic alliances with technology developers, and easy-to-use tools.
The rules consider the accounting provisions in the FASB standard issued in 2014.
Financial statement audits are not just a compliance exercise, but also an opportunity to gain knowledge that can generate positive business results.
Practitioners must persevere in an environment of new standards and regulatory upheaval.