Internal auditors are facing many new challenges in a world where technology and globalization are leading to rapid changes.
Advertisement
TOPICS
Audit & assurance
New mission, principles articulated for internal audit
An update to professional guidance is designed to help internal auditors assist their organizations in navigating risks.
A 6-point plan to improve audit quality
A new six-point plan released by the AICPA provides a road map for enhanced performance on audits of private companies, employee benefit plans, and governmental entities.
PCAOB seeks feedback on new idea for identifying engagement partner
The PCAOB voted to seek public comment regarding a proposal for naming the engagement partner in public company audits, in addition to identifying other firms that contribute to the audit.
PCAOB schedules open meeting on naming audit engagement partners
The PCAOB has scheduled a public meeting to consider seeking public comment on a new proposal for naming audit engagement partners.
PCAOB has new plan for naming audit engagement partners
The PCAOB plans to propose identifying the engagement partner in a new form that auditors could file with the PCAOB, the board’s chairman, James Doty, said.
Report calls for improvement in employee benefit plan audits
The U.S. Department of Labor has issued results of a study of employee benefit plan audits that show a continuing need for improvement. A new AICPA audit quality initiative for the profession has a focus on employee benefit plan audits.
PCAOB standards reorganized for easy navigation
The standards’ numbering system will follow the logical flow of the audit process.
IAASB revises ‘other information’ auditing standard
More involvement is required with material outside audited financial statements.
How to hire an EBP auditor
A proper financial statement audit is a critical component of an employee benefit plan’s accountability. The following tips can help plan administrators hire an auditor who will perform a high-quality audit.
PCAOB seeks feedback on auditors’ use of specialists
The PCAOB’s staff is asking whether the board’s standards adequately address auditors’ use of specialists, which is becoming more common as business transactions become more complex.
AICPA releases 6-point plan to enhance audit quality
The AICPA released a six-point plan with recommendations for improving audit quality, which covers several stages in the process of being or becoming an auditor.
AICPA issues Q&As for practitioners related to ALTA best practices framework
New technical questions and answers provide nonauthoritative guidance for practitioners regarding the types of engagements practitioners may perform in connection with the American Land Title Association’s “Best Practices Framework.”
Data analytics helps auditors gain deep insight
Advances in data analytics allow financial statement auditors to get more in-depth information about their clients’ businesses. Technological advances have the potential to change the audit landscape considerably, but mechanization appears unlikely to reduce the need for skilled auditors.
Driving faster decisions
Continuous monitoring and continuous auditing through data analytics provide internal audit with significant opportunities to provide added value to organizations. As these data-driven techniques grow in popularity, find out how the Hewlett-Packard Co. has used them to drive improvement.
Auditing
Auditing news from “News Digest.”
Will simpler also be better?
A number of standard setters and regulators are making efforts to reduce complexity in accounting standards and simplify financial reporting. These changes may free up finance employees from some reporting duties and allow them to focus on responsibilities that add more value to their organizations.
Revised IAASB standard increases auditors’ involvement with “other information”
Revisions issued by the IAASB require auditors to increase their involvement with information that is included in entities’ annual reports but is outside audited financial statements.
PCAOB reorganizes standards to follow flow of an audit
The PCAOB voted to reorganize its standards to make them easier to navigate and follow the flow of an audit.
How coordination enables compliance with the group audits standard
Learn how proper coordination between the group auditor and component auditors enables compliance with the standards.
Features
FROM THIS MONTH'S ISSUE
Building a better CPA firm: Stepping up service offerings
A key step in business model modernization is determining how to implement services that satisfy clients and employees.
From The Tax Adviser
August 30, 2025
2025 tax software survey
July 31, 2025
