The PCAOB warned of increased risks of material misstatement.
Five principles can help prevent, detect, or correct the most frequent securities law violations adjudicated by the SEC.
The subjective nature of fair value measurements makes them a challenge for auditors. These tips—and a new framework for use by valuation professionals—can make the job easier.
Three proposals issued by the AICPA Auditing Standards Board are designed to enhance the relevance and usefulness of the auditor’s report for audits of nonissuers.
The ASB issued a statement of position providing guidance for attestation engagements related to third-party due-diligence services performed in connection with asset-backed securities.
Board inspectors found audit deficiencies most often in three recurring areas and suggested steps firms may want to follow to improve performance in the future.
Investors and other stakeholders continue to gain access to more information about how audit committees choose and oversee external audit firms.
Although compliance with audit documentation standards can be a challenge, smart planning, standardized working papers, and other best practices can help practitioners avoid problems.
A new attestation service and international issues are addressed in separate proposals.
The SEC granted unanimous approval to the new auditor’s reporting standard created by the PCAOB.
An alert published by the Center for Audit Quality discusses some of the more judgmental or complex areas that may be relevant during the 2017 auditing cycle.
A new PCAOB alert can help auditors apply the board’s guidance to their clients’ implementation of the new accounting standard.
Performing a small number of specialized audits may lead to nonconformities, a study found.
The board observed slightly more audit deficiencies in 2016.
CPAs who possess the appropriate expertise can perform new consulting and attest services for clients under a recently released AICPA framework. Developing expertise in this area is the key.
Building trust with members of the firm as well as clients is essential for the success of an audit firm’s quality-control system, according to Cathy Clarke, CPA, chief assurance officer for CliftonLarsonAllen LLP in Minneapolis.
SAS No. 133 establishes procedures for practitioners.
Taking responsibility for hosting an attest client’s data or records impairs a CPA’s independence, according to a new ethics interpretation.
The PCAOB has revised a proposal that would create a more uniform approach to a lead auditor’s supervision of other auditors from other audit firms.
A proposal by the AICPA's ARSC would result in flexibility for practitioners performing and reporting on a procedures and findings service.