Auditing


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The U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) is considering whether to amend guidance the DOL issued in 1975—Interpretive Bulletin 75-9—on evaluating the independence of auditors retained by employee benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA). EBSA seeks comments from the public by December 11, 2006 ( www.regulations.gov ; docket ID EBSA-2006-0043), on whether the bulletin provides adequate guidance for plan administrators, other plan fiduciaries, participants, beneficiaries, accountants and other affected parties on determining when a qualified public accountant is independent. To help CPAs understand the more common independence rules affecting ERISA audits, the AICPA Employee Benefit Plan Audit Quality Center has prepared a comparison of the current DOL and AICPA rules ( http://ebpaqc.aicpa.org/resources/independence ).

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.