The analysis will evaluate whether the PCAOB’s standard for engagement quality reviews helps firms identify significant deficiencies before they issue an audit report.
APRIL 2016 NEWS
A new program allows individuals who owe federal income taxes to pay in cash at 7-Eleven stores in 34 states.
The AICPA Auditing Standards Board addresses the implications for the auditor’s report when an audit is conducted in accordance with both GAAS and ISAs.
These new rules aim to curtail an inverted company’s ability to access foreign subsidiaries’ earnings without paying U.S. tax.
PCAOB inspectors found that 93% of audits inspected in 2014 showed no failure to comply with the board’s standard on communications with the audit committee.
SSAE No. 18 is designed to make attestation standards easier to read, understand and apply.
Tax authorities in various countries announced the launch of investigations after 11.5 million documents were leaked from a Panamanian law firm that specializes in setting up offshore entities.
The next CPA exam, which will debut in April 2017, will have an increased emphasis on higher-order analysis and evaluation skills, the AICPA announced.
The IRS issued guidance providing the depreciation limits for automobiles for 2016 and revised limits for 2015 reflecting the retroactive increase in the amount of bonus depreciation permitted under recent legislation.