Audit & assurance news and resources -- Journal of Accountancy

TOPICS

October 1, 2017

Cathy Clarke, CPA

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.

October 1, 2017

Cybersecurity: A new engagement opportunity

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.

October 1, 2017

Key factors correlate with quality in single audits

Performing a small number of specialized audits may lead to nonconformities, a study found.

October 1, 2017

ASB issues standard for auditors involved with exempt offering documents

SAS No. 133 establishes procedures for practitioners.

September 27, 2017

How data-hosting services affect independence

Taking responsibility for hosting an attest client’s data or records impairs a CPA’s independence, according to a new ethics interpretation.

September 26, 2017

PCAOB revises proposal on supervision of other auditors

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.

September 1, 2017

Proposal would pave the way for a new attestation service

A proposal by the AICPA’s ARSC would result in flexibility for practitioners performing and reporting on a procedures and findings service.

September 1, 2017

The importance of audit planning

Often overlooked, the real benefit of audit planning is gained from the process itself.

September 1, 2017

What audit committees need to know about PCAOB’s Form AP

The CAQ has published a new tool.

August 31, 2017

CAQ suggests changes in 2 PCAOB proposals

While supporting PCAOB proposals for new standards on auditing accounting estimates and using the work of specialists, the Center for Audit Quality submitted suggestions for improving the proposals.

August 30, 2017

What PCAOB inspectors are looking for

PCAOB inspectors will focus on several key areas during 2017, including compliance with new audit transparency rules and preparation for new accounting standards.

August 28, 2017

Rulemaking gives auditors a chance to provide more insight

An upcoming Auditing Standards Board proposal is the latest example of a standard setter providing a mechanism for auditors to provide more value.

August 18, 2017

PCAOB urges improvement in broker and dealer audits

The PCAOB is urging audit firms to take steps to bring about higher quality in audits of brokers and dealers, according to a report issued Friday.

August 1, 2017

How well do you know audit documentation requirements?

Noncompliance with the Audit Documentation standard is the most common cause of material nonconformity in audits. Take this quiz to find out how well you understand what is required.

August 1, 2017

5 key issues that merit CPAs’ attention

Presenters at the inaugural AICPA ENGAGE conference discussed some of the most important issues in the accounting profession, in areas including technology and client management.

August 1, 2017

PCAOB proposes amendments

Changes are sought for auditing accounting estimates and use of the work of specialists.

August 1, 2017

Managing the risks associated with models

Accountants in all industries can play a meaningful role in the mitigation of model risk at their organizations.

August 1, 2017

PCAOB expands auditors’ reporting duties, with emphasis on ‘critical’ matters

The audit report gets major changes for the first time in decades.

August 1, 2017

Mandy Nelson, CPA

Mandy Nelson, CPA, a partner in KPMG’s Department of Professional Practice, says training professionals to understand and apply standards requires a careful analysis of how much time should be devoted to each of the most challenging topics.

July 31, 2017

Tactics for driving quality in a single audit

Engagement partner expertise and firm specialization are among the factors that correlate with quality performance in a single audit.

FROM THIS MONTH'S ISSUE

AI risks CPAs should know

Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.