Auditing


The SEC defers until January 1, 2005, a requirement that auditors of nonpublic broker-dealers register with the Public Company Accounting Oversight Board (PCAOB) ( www.sec.gov/rules/other/34-48281.htm ). The Sarbanes-Oxley Act of 2002 required auditors of financial statements of public companies or “issuers,” as defined in the act, to register by October 22 but did not establish a deadline by which auditors of broker-dealers that do not issue securities must register. While the deferral could end earlier if, in the interim, the SEC issues rules that say so, it now permits privately held broker-dealers to file annually with the commission and send their customers a balance sheet certified by an independent public accountant not registered with the board. Meanwhile the commission is assessing the applicability of registration requirements and procedures to nonpublic broker-dealers.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.