Auditing


The Public Company Accounting Oversight Board (PCAOB) issues a briefing paper describing its plans for overseeing—in cooperation with appropriate auditing regulators in other countries—the activities of U.S. accounting firms fully or partially responsible for auditing public companies in a foreign jurisdiction ( www.pcaobus.org/rules/Release2003-020.pdf ). The paper also described the board’s vision of a reciprocal arrangement it seeks with foreign regulators for the oversight of non-U.S. accounting firms auditing American companies. The PCAOB said such joint efforts will protect investors by improving participating nations’ audit quality and corporate reporting, minimizing unnecessary overlaps in their regulations and costs and allocating resources more efficiently.

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A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.