Audit & assurance news and resources -- Journal of Accountancy

TOPICS

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, 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.

July 26, 2017

AICPA issues TQAs on use of inappropriate accounting standards

The AICPA issued technical questions and answers that address reporting on financial statements developed using an inappropriate set of standards.

July 26, 2017

ASB issues standard for auditors involved with exempt offering documents

Auditors involved with exempt offering documents will be subject to new requirements under Statement on Auditing Standards No. 133, which the Auditing Standards Board issued.

July 1, 2017

How to manage risks related to multijurisdictional group audits

Audits of U.S. companies increasingly require accountants to manage the challenges and risks of dealing with multiple foreign jurisdictions.

July 1, 2017

ASB addresses auditor reporting on ERISA plan financial statements

The standard is meant to clarify auditors’ responsibilities.

July 1, 2017

What auditors of brokers and dealers need to know about audit planning

A CAQ alert discusses challenging areas.

June 23, 2017

NFP audit committees: Getting oversight right

Whether it means taking external auditors into executive session or getting candid opinions on staff, audit committee members need to provide strong oversight to help the organization thrive and survive.

June 20, 2017

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

Audit committees have new information to consider as a result of a new PCAOB rule requiring the naming of the engagement partner and other firms participating in the audit.

June 15, 2017

How audit methodologies will change in the future

Embracing technology and making changes in your firm now will help your firm succeed in the future as new technologies enable auditors to provide more value to clients.

June 12, 2017

How to improve audit planning effectiveness and efficiency

Attention to the right details during planning can save time and enhance audit quality.

June 1, 2017

PCAOB expands auditors’ reporting duties

Auditor’s reports will provide more information to financial statement users under new rules.

June 1, 2017

New audit data standard addresses inventory subledger

Standardizing data can improve efficiency of the audit process.

June 1, 2017

Audit documentation: Tips for getting it right

Steer clear of three common misconceptions about documentation that can derail an otherwise high-quality audit.

May 24, 2017

PCAOB to consider adopting new auditor’s reporting standard

The board has proposed requiring auditors to provide information on the most challenging, subjective, or complex aspects of an audit.

May 23, 2017

ASB addresses engagements performed under 2 sets of attestation standards

The AICPA ASB issued an interpretation that describes conditions for practitioners who wish to perform and report on an attestation engagement in accordance with AICPA attestation standards in addition to another set of attestation standards.

May 18, 2017

What auditors of brokers and dealers need to know about audit planning

Risk assessment procedures, auditor communication requirements, and revenue recognition are among the many complex areas that auditors need to consider carefully in their planning and throughout the audit.