Audit & assurance

Audit committee cybersecurity disclosures rising in proxy statements

Disclosures around oversight of cybersecurity risk by audit committees are increasing in public company proxy statements, according to a yearly analysis released by the Center for Audit Quality and Audit Analytics. But other disclosures have leveled off in recent years.

How auditors can enhance the reliability of non-GAAP reporting

Practitioners are not required to provide an opinion on non-GAAP measures during a financial statement audit, but they can be engaged to perform additional procedures related to this information, according to a new Center for Audit Quality report.

More flexibility for agreed-upon procedures

Statement on Standards for Attestation Engagements (SSAE) No. 19, Agreed-Upon Procedures Engagements, provides practitioners more flexibility for performing agreed-upon procedures engagements.

Provider Relief Funds included in audit determination, HHS says

Nonfederal entities and for-profit entities are required to include Provider Relief Fund payments in the reported total annual federal fund expenditures that determine whether they meet the $750,000 threshold that triggers audit requirements, the US Department of Health and Human Services announced.

Answers to 4 common accounting and auditing questions

New FASB rules have led to a host of new accounting and auditing questions for financial statement preparers and auditors. Some of the most frequently asked questions were answered at the AICPA’s ENGAGE 2020 virtual conference.

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