Audit & assurance news and resources -- Journal of Accountancy

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December 15, 2015

PCAOB approves rule for naming audit engagement partner

The PCAOB voted to approve a new rule that will require disclosure of the name of the engagement partner and other participating firms on a form that will be made public on the board’s website.

December 11, 2015

GASB provides assistance on pension accounting issue

The assistance applies to governments that participate in certain multiple-employer defined benefit plans.

December 10, 2015

PCAOB to meet on transparency proposal

The PCAOB will hold a public meeting at 10 a.m. Tuesday to consider whether to adopt a new standard that would require a new form for naming the engagement partner and other firms participating in public company audits.

December 9, 2015

PCAOB to vote on naming engagement partner

The PCAOB plans to meet next week to vote on a final standard that would create a new form naming the engagement partner on public company audits as well as other firms that participated in the audit.

December 1, 2015

Risks to watch during 2015 audit cycle

Professional skepticism and ICFR are among the topics of scrutiny.

December 1, 2015

A step up in standards for peer reviewers

Continued efforts to improve quality in auditing and accounting have led to new requirements for CPAs who serve as peer reviewers.

December 1, 2015

Focus on Risk Assessment Standards

The PCAOB urges firms to review systems and procedures.

December 1, 2015

PCAOB focuses on 3 key areas for 2015

Inspectors are looking closely at problem areas from recent years.

November 23, 2015

Concerned about your audit quality-control system?

A firm needs a system to ensure it is taking on the right clients, carefully monitoring audits, and making sure employees are performing competently and ethically.

November 18, 2015

Changes proposed to peer review standards

Changes proposed by the AICPA Peer Review Board are designed to help audit firms increase their focus on the proper design and operating effectiveness of their quality-control systems.

November 3, 2015

Internal auditors turn focus to organizational culture

The daily headlines are filled with stories of companies that were damaged when culture went awry. Here’s how internal audit can deliver value by providing a clear focus on organizational culture.

November 1, 2015

PCAOB focuses on audits of brokers, dealers

The board shared inspection objectives and urged firms to review processes.

November 1, 2015

AICPA releases Q&A on required supplementary information

Nonauthoritative guidance is provided on independence requirements.

October 27, 2015

ASB interpretation permits auditor reporting on sustainability financial statements

The ASB interpretation allows an auditor to report on the U.S. government’s basic financial statements, which include the statements of social insurance, changes in social insurance amounts, and long-term fiscal projections.

October 27, 2015

ASB addresses audits of ICFR integrated with financial statement audits

The AICPA Auditing Standards Board established requirements and provided guidance that apply only when an auditor is engaged to perform an audit of internal control over financial reporting that is integrated with an audit of financial statements.

October 20, 2015

Changing market needs lead to new assurance opportunities for auditors

Two AICPA groups have undertaken numerous initiatives to allow CPAs to perform these services and protect the public interest.

October 20, 2015

Internal auditors receive modest raises

A majority of organizations in the United States and Canada gave internal auditors raises of 2% to 4% in the past year, according to a new survey report.

October 15, 2015

PCAOB urges focus on Risk Assessment Standards

The PCAOB is urging audit firms to review their systems and procedures to promote compliance with the board’s Risk Assessment Standards.

October 12, 2015

Key areas of risk in the 2015 audit cycle

These areas of significant judgment and complexity merit proactive and accelerated attention from audit firms, according to a new Center for Audit Quality alert.

October 8, 2015