Audit & assurance news and resources -- Journal of Accountancy

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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.

March 15, 2018

How blockchain might affect audit and assurance

A new report describes the changes that may be coming and how CPAs can take advantage of new opportunities the technology may provide.

March 13, 2018

How internal audit can improve by embracing technology

By embracing new technologies and developing new skills in their own operations, internal auditors can develop a point of view on new risks and deliver value to the organization.

March 8, 2018

Global audit inspection findings show modest improvement

The percentage of audits with at least one inspection finding fell slightly from the previous year, according to a global survey of audit regulators taken in 2017.

March 6, 2018

ASB issues auditing interpretation on dual reporting

An interpretation issued by the AICPA Auditing Standards Board helps auditors comply with reporting requirements during engagements performed under both generally accepted auditing standards and PCAOB rules.

March 1, 2018

PCAOB gets new chairman, complete new board membership

The new members come from public and private organizations.

February 26, 2018

Revised compilation and review report requirements to be included in SSARS No. 24

A new Statement on Standards for Accounting and Review Services will be issued in late May in an effort to decrease the impact on practitioners during busy season.

February 1, 2018

ASB issues new statement of position

Attestation guidance addresses third-party due-diligence services for asset-backed securities.

February 1, 2018

PCAOB issues staff guidance on new auditor’s report

Much of the new reporting model is in effect.

February 1, 2018

ASB addresses auditor’s report, other information, standards alignment

Comments on three proposals are due May 15.

February 1, 2018

Guidance for sustainability attestation engagements

Read excerpts from a new AICPA-issued sustainability guide issued to aid practitioners taking on attestation services in this emerging area.

January 1, 2018

SEC approves PCAOB’s new auditor’s reporting model

It’s the first major change to the standard form in 70 years.

January 1, 2018

The risks, and potential rewards, of rotating chief audit executives

Organizations should be wary of assigning a chief audit executive to the role for a short, predetermined time.

January 1, 2018

PCAOB identifies most frequent 2016 audit issues

Staff inspection reports revealed 3 areas of greatest concern.

December 12, 2017

PCAOB gets new chairman, complete new board membership

William Duhnke will chair the Public Company Accounting Oversight Board, and will be joined by board members J. Robert Brown, Kathleen Hamm, James Kaiser, and Duane DesParte.

December 12, 2017

Using audit data analytics in performing a risk assessment procedure

In this excerpt from the AICPA’s new Guide to Audit Data Analytics, learn how to apply the techniques to a risk assessment procedure.

December 6, 2017

How firms can continue to improve audit quality

PCAOB member Jeanette Franzel is calling for audit firms to dedicate additional resources to ensure high-quality audits.

December 6, 2017

Audit committee considerations for the PCAOB’s new audit report

A new Center for Audit Quality tool provides audit committees with important considerations related to the new auditor’s report.

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