FYI


The Public Company Accounting Oversight Board (PCAOB) named two CPAs deputy chief auditors. Laura Phillips will provide technical direction on the development of the board’s standards and ensure they and related information are available and appropriately communicated to public company auditors and other interested parties. Jennifer Rand will oversee and coordinate all PCAOB standard-setting projects and administer the Standing Advisory Group, as well as serve as the board’s observer for the International Auditing and Assurance Standards Board of the International Federation of Accountants.

The Institute launched an online media center to educate and update the press on the AICPA, its mission, programs, initiatives and leadership and on issues affecting the entire profession ( www.aicpa.org/mediacenter ). Barry C. Melancon, AICPA president and CEO, said the site “will help the press present and illuminate financial and economic issues and enable the Institute to continue serving as an authoritative voice on the accounting profession’s role in U.S. capital markets.” The center’s resources include background information on the AICPA, electronic press kits, issues briefs, research reports and statistics, executive biographies, a glossary of accounting terms and contact information for the state CPA societies and AICPA media relations staff.

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States look to unclaimed property for revenue

This free report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.