International


The International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) proposed four international auditing standards (ISAs) ( www.ifac.org/guidance/exd-outstanding.php ): ISA 600 (revised), The Audit of Group Financial Statements; ISA 260 (revised), The Auditor’s Communication with Those Charged with Governance; ISA 705, Modifications to the Opinion in the Independent Auditor’s Report, and ISA 706, Emphasis of Matter Paragraphs and Other Matters Paragraphs in the Independent Auditor’s Report, derived from ISA 701, Modifications to the Independent Auditor’s Report. Comments are due July 31, 2005.

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

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