Audit & assurance news and resources -- Journal of Accountancy

Voluntary audit data standards proposed by the AICPA Assurance Services Executive Committee are designed to enable more efficient and effective exchange of information between companies and auditors.

May 11, 2016

PCAOB refines auditor’s reporting model proposal

The PCAOB voted to propose revised changes to a standard that would modify the auditor’s reporting model to give investors more information.

May 10, 2016

SEC approves PCAOB rule for naming engagement partner

Audit firms will be required to disclose the name of the engagement partner and information about other firms participating in audits under a PCAOB rule that was approved by the SEC.

May 5, 2016

PCAOB considers changing focus of inspections

The PCAOB is considering changes in its inspections program as a result of improvements in audit quality and firms’ systems of quality control, PCAOB board member Jeanette Franzel said Thursday.

May 1, 2016

IFIAR hopes to build on audit quality improvements

Largest firms join a new global initiative.

April 21, 2016

PCAOB warns against altering audit documentation

The PCAOB cautioned that improper alteration of audit documentation can result in severe penalties.

April 19, 2016

PCAOB inspectors observe decrease in broker-dealer auditor independence impairments

PCAOB inspectors found fewer independence impairments for auditors of broker-dealers in 2015 compared with previous years.

April 12, 2016

PCAOB proposal would guide lead auditors in supervision of other auditors

The PCAOB’s standards for a lead auditor’s supervision of other auditors would be strengthened under a proposal the board voted to issue.

April 7, 2016

Post-implementation analysis begins for PCAOB engagement quality review standard

The analysis will evaluate whether the PCAOB’s standard for engagement quality reviews helps firms identify significant deficiencies before they issue an audit report.

April 6, 2016

ASB addresses reporting on audits conducted in accordance with GAAS and ISAs

The AICPA Auditing Standards Board addresses the implications for the auditor’s report when an audit is conducted in accordance with both GAAS and ISAs.

April 5, 2016

Inspections show high compliance with PCAOB audit committee communication rules

PCAOB inspectors found that 93% of audits inspected in 2014 showed no failure to comply with the board’s standard on communications with the audit committee.

April 5, 2016

Issuance of attestation standards completes clarity project

SSAE No. 18 is designed to make attestation standards easier to read, understand and apply.

April 1, 2016

Amendments clarify jurisdictional issues in audits

SAS No. 131 addresses reporting requirements.

April 1, 2016

Auditing risks in culture

Internal auditors can help reduce risks by embedding audits of organizational culture into existing audit programs.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.