Audit & assurance news and resources -- Journal of Accountancy

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July 25, 2018

In unified voice, leaders reaffirm profession’s commitment to audit quality

Leaders in the auditing profession are committed to continuous improvement in audit quality at a time of significant change, seven prominent executives in the profession said in a joint statement.

July 24, 2018

Tips for understanding critical audit matters

A new report explains what audit committees and financial statement users need to know about critical audit matters.

July 17, 2018

GAO issues revised Yellow Book standards for government auditors

The revised standards are designed to provide a framework for high-quality work by government auditors.

July 11, 2018

Proposed SSAE would increase flexibility for practitioners in performing attestation engagements

The AICPA Auditing Standards Board issued a proposal that would make numerous changes to the attestation standards, including changing the terminology for what have been known as “review engagements.”

July 1, 2018

EBP audits: Don’t let your guard down

A healthy dose of paranoia and specialized expertise can help practitioners overcome challenges in employee benefit plan audits.

June 25, 2018

Strategies for quality work in single audits

Careful testing and thorough documentation are among the keys for quality single audit performance described by Laurie De Armond, CPA, in her summary of observations from the AICPA Not-for-Profit Industry Conference.

June 13, 2018

Add value to audits with client-focused analytics

Audit data analytics provide an opportunity for auditors to provide more value to clients. But first, firms need to let clients tell them what kind of insights would be helpful.

June 1, 2018

New FAQs address familiarity threats

Safeguards for long-tenured personnel are suggested.

June 1, 2018

AICPA issues nonauthoritative guidance for payroll audits

The TQAs discuss engagement and representation letters.

May 23, 2018

New compilation and review report requirements issued

The AICPA Accounting and Review Services Committee issued Statement on Standards for Accounting and Review Services No. 24, which revises reporting requirements for compilations and reviews.

May 8, 2018

5 things you need to know about the new international ethics code

A new international Code of Ethics for professional accountants contains new guidance on safeguards, cooling-off periods, and other important issues.

May 1, 2018

The trouble with nondisclosure agreements in attest engagements

CPA firms must take care not to run afoul of professional standards if they are asked to sign nondisclosure agreements.

May 1, 2018

ASB issues auditing interpretation on dual reporting

It applies to audits performed beyond PCAOB oversight.

May 1, 2018

New standard will include revised compilation and review report requirements

SSARS No. 24 will create and amend AR-C sections.

May 1, 2018

Audit quality research projects receive AICPA support

All proposals were related to audit quality, evolving skill sets, risk assessment and response, and sufficiency and appropriateness of audit evidence.

April 24, 2018

How to maintain independence in audits of insured depository institutions

Auditors of insured depository institutions need to educate themselves and their staffs about independence rules that apply to these engagements.

April 11, 2018

Save money by having your sustainability report assured

Sustainability reporting has become a common business practice in the United States, and now research shows that sustainability assurance efforts more than pay for themselves in a majority of companies.

March 22, 2018

AICPA issues nonauthoritative guidance for payroll audits

New Technical Questions and Answers issued Tuesday by the AICPA provide nonauthoritative guidance for multiemployer plan payroll compliance services when engaged to perform payroll compliance procedures as an agreed-upon procedures engagement in accordance with AT-C Section 215.

March 21, 2018

New FAQs address familiarity threats for long-tenured senior engagement personnel

Two new Frequently Asked Questions (FAQs) issued by the AICPA Professional Ethics Division provide nonauthoritative guidance for the effects on independence when senior personnel have been on an attest engagement team for a long period.

March 16, 2018

How audit committees can evaluate non-GAAP measures

A Center for Audit Quality tool provides tips for audit committees to consider about non-GAAP measures as they perform their oversight duties.

FROM THIS MONTH'S ISSUE

How a CPA beat burnout after strokes, depression

Get ready for tax season with the JofA’s annual filing season quick guide, an easy-to-use compilation of dollar thresholds, tax tables, standard amounts, credits, and deductions. Download and print for quick reference this tax season.