Emerging engagements such as sustainability attestation services and System and Organization Controls reports require auditors to consider materiality for subject matters that can’t be quantitatively measured.
New research performed with the help of the AICPA’s Assurance Research Advisory Group has provided new insights on ways to improve quality in group audits.
Recognizing and overcoming cognitive biases can help practitioners deliver higher quality in their engagements.
Since their issuance in 2006, the risk assessment standards have often been a source of confusion. Here’s how to work with them.
The effect on practice is expected to be minimal.
It’s critical for auditors to understand their responsibilities related to internal controls. Take this quiz to see how much you know about this topic.
The AICPA Auditing Standards Board issued new standards addressing auditor reporting on ERISA plan financial statements and an auditor’s “other information” responsibilities.
The audit process can help employee benefit plan administrators fulfill their fiduciary duties, according to testimony by James Haubrock, CPA, chair of the executive committee of the AICPA Employee Benefit Plan Audit Quality Center.
The AICPA Auditing Standards Board issued standards that are designed to improve auditors’ ability to communicate in auditors’ reports and align generally accepted auditing standards with those of other standard-setting bodies.
An understanding of a client’s controls is essential for determining the extent of testing necessary for completion of a successful audit.
Academic research reveals perceptions of the internal auditing function, ways to reduce audit delays, how small businesses use continuous auditing technology, and more.
The risk assessment standard provides a baseline for the successful planning and conducting of an audit. Take this quiz to find out how well you understand the basics of risk assessment.
The SEC adopted amendments designed to help identify when an auditor’s lending relationship with an audit client is a threat to the auditor’s objectivity and impartiality.
The ASB issued a proposal that would update its audit evidence standard to address issues such as emerging technologies and the application of professional skepticism.
A proposal issued by the AICPA Accounting and Review Services Committee would promote convergence with international standards for review services.
Auditing accounting estimates can be challenging. New auditing standards may help by encouraging deeper professional skepticism.
The definition of materiality used in the AICPA Professional Standards would be aligned with that of U.S. regulators under proposals issued by the AICPA Auditing Standards Board.
A partner at Garbelman Winslow CPAs describes the Maryland firm’s experience using machine learning to improve its audit process.
Roger O’Donnell leads the Global Audit D&A initiative and currently serves as the lead engagement partner for several multinational companies.
The business risks associated with new technology seem almost endless. But a new resource can help auditors, management and audit committees discharge their responsibilities associated with those risks.