Over the last several weeks, HHS has established in its PRF FAQs that the reporting in the PRF Reporting Portal will be based on when PRF payments were received.
Audit & assurance
A CPA shares advice for organizations and practitioners on single audits and why more expertise is needed, and an AICPA vice president explains the reasons behind the organization’s support of a bill recently introduced in the House of Representatives.
Proposed quality management standards presented by the AICPA Auditing Standards Board would require audit firms to customize their processes in accordance with their individual risks.
Travel restrictions led to a buildup of compensated absences and a corresponding liability that has implications for financial reporting, auditing, and management.
Learn about the important role some CPAs play in the success of the IRS’s certified professional employer organizations program.
The AICPA Auditing Standards Board issued a statement of position Wednesday on performing agreed-upon procedures related to third-party due diligence services on rated Exchange Act asset-backed securities.
Hear or read the opening of a multipart series on audit transformation. This episode provides an overview of the auditing landscape and more.
As momentum grows for environmental, social and governance disclosures, ESG assurance opportunities are expected to present themselves for CPAs, who currently are performing a small fraction of these engagements in the US.
The AICPA and the Center for Audit Quality sent letters to the SEC supporting its exploration of disclosures related to climate change and environmental, social and governance issues.
The businesses the COVID-19 pandemic has pushed to the brink of failure still face some unprecedented challenges regarding compliance with the going concern disclosure guidance.
Revenue recognition issues for employee benefit plans are addressed in proposed implementation guidance issued by the AICPA Financial Reporting Executive Committee.
A new standard issued by the AICPA Auditing Standards Board provides guidance on auditing the fair value of financial instruments, with a focus on the use of pricing services. The ASB also modernized its standards related to the use of specialists by management and auditors.
Reporting on environmental, social and governance information is becoming increasingly important. Internal audit’s independent advisory and assurance work can help organizations get it right.
PCAOB Chair William Duhnke III was removed from his position on the board as the SEC named Duane DesParte as acting chair. The SEC announced that it intends to seek candidates to fill all five positions on the PCAOB.
Regulators and standard setters are promulgating new requirements for environmental, social and governance information, and that may lead many companies to call upon external auditors to examine their ESG disclosures.
AICPA & CIMA released additional nonauthoritative guidance addressing issues related to the auditing of digital assets such as bitcoin and ether. The material covers topics such as risk assessment; processes and controls; laws and regulations; and related parties.
Careful analysis and thought-provoking discussion contribute to high-quality risk assessment in auditing. A proposed new standard is designed to lead to improvement in this area.
The Public Company Accounting Oversight Board proposed a framework that would guide its actions when its oversight activities are stymied by authorities in other jurisdictions.
As pandemic relief adds to funding that needs to be considered in a single audit, it’s important to remember that the rules in the Uniform Guidance still prevail.
Interest in special-purpose acquisition companies is growing among investors and regulators. The Center for Audit Quality has considerations for auditors and audit committees to keep in mind regarding SPACs.