Audit & assurance news and resources -- Journal of Accountancy

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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