Audit & assurance

Auditors should perform and report on prior-period audits in accordance with auditing standards in effect at the time the engagement is performed, according to nonauthoritative guidance issued by the AICPA.

The auditor’s report is undergoing its biggest change in 70 years, and the Public Company Accounting Oversight Board staff is providing guidance to assist in implementation.

The International Auditing and Assurance Standards Board has proposed new rules designed to ensure that engagement quality reviews maintain their effectiveness.

A new framework designed by the Center for Audit Quality can help firms develop their audit quality disclosures and provide transparency to the public.

The AICPA Auditing Standards Board voted to issue a new standard that will more closely align generally accepted auditing standards and the Public Company Accounting Oversight Board’s standards.

New PCAOB rules require disclosure of critical audit matters encountered by auditors during the engagement. Here are some suggestions firms can use to identify critical audit matters.

The PCAOB voted to approve a new standard and amendments for auditing accounting estimates, including fair value measurements, and using the work of specialists.