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.

SPONSORED REPORT

Get your clients ready for tax season

Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.

100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.