Auditing

Both the Institute and the Big Five issue statements describing their latest initiatives to improve the quality of financial reporting and auditing. Among such efforts are the Institute’s plans—with the firms’ help—to expand Auditing Standards Board fraud detection and deterrence guidance for financial statement issuers, audit committees and auditors and to continue implementing the recommendations of the Panel on Audit Effectiveness. ( http://ftp.aicpa.org/public/download/news/auditquality.pdf ; www.aicpa.org/news/bigfive.htm )