The AICPA Auditing Standards Board delayed the effective dates of its new auditor reporting standards by one year. Early implementation is permitted, and the ASB recommends concurrent implementation of the standards.
The coronavirus pandemic has created special challenges for practitioners to consider related to internal control, fraud, NOCLAR, and accounting estimates.
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.
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.
The coronavirus pandemic has created numerous challenges for state and local government financial statement preparers and auditors. Many of these issues are addressed in FAQs published by the AICPA staff.
A new standard on audit evidence can help auditors adapt to the changing nature of business. Find out more on the standard in this podcast episode.
New guidance issued by the AICPA Auditing Standards Board provides practitioners with guidance on one of their most difficult tasks — auditing accounting estimates and related disclosures.
The AICPA Auditing Standards Board issued a new standard that recognizes the evolving nature of business, including use of technology.
Public company auditors can play an important role in enhancing the reliability of company disclosures on environmental, social and governance information, according to a new Center for Audit Quality report.
Building relationships is a key to helping clients achieve their mission, according to Alan Jowers, CPA, a partner with Carr, Riggs & Ingram, LLC.
To perform a high-quality audit, practitioners need a thorough understanding of FASB’s new standard and its implications for their clients’ financial statements.
Compilations of financial statements that omit substantially all disclosures can provide challenges for CPAs as the pandemic hurts clients’ businesses. Here’s how CPAs can handle the challenging judgments in these engagements.
The coronavirus pandemic has increased risk in certain areas of the audit for clients with 2020 year ends. Take this quiz to see if you are ready to audit these areas.
Audit risk assessments and sampling procedures may need to change as a result of the coronavirus pandemic, according to Lynford Graham, CPA, Ph.D.
CPA firms with certain peer review deadlines were granted an extension amid the havoc caused by the coronavirus pandemic. Some firms are nonetheless staying on schedule, and others are urged to at least schedule their delayed reviews so they don’t fall too far behind.
The coronavirus pandemic has had a profound effect on employee benefit plan financial statements. Preparers and auditors need to carefully consider going concern implications, CARES Act implications and more.
The coronavirus pandemic has created special challenges for practitioners to consider related to internal control, fraud, legal compliance, and accounting estimates. Here’s how auditors can address these risks.
The International Auditing and Assurance Standards Board highlighted key areas of focus for auditor reporting related to the coronavirus pandemic in an audit staff practice alert.
Take this quiz to find out if you’re prepared to navigate issues such as remote audit procedures and going concern evaluations amid the pandemic.
Here is how practitioners can handle some of their biggest challenges when conducting audits in the current environment.