Audit & assurance news and resources -- Journal of Accountancy

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September 1, 2015

Succeeding with a narrow focus

Specializing and focusing on a narrow range of services can help CPAs and audit firms reduce training costs and risks.

September 1, 2015

IIA spells out mission and principles

A framework is updated to help internal auditors address the changing risk landscape.

August 26, 2015

AICPA releases Q&A on required supplementary information

The AICPA has released new nonauthoritative guidance for auditors regarding their independence responsibilities with respect to required supplementary information in a specific situation.

August 18, 2015

PCAOB urges broker-dealer auditors to reexamine approaches

The PCAOB issued a report urging auditors of broker-dealers to reexamine their audit processes in light of board inspection findings.

August 18, 2015

How internal audit can make better use of technology

Here are six things internal auditors can consider to give themselves a chance to maximize technological tools.

August 14, 2015

ASB proposal would amend auditor’s report auditing standard

The Auditing Standards Board has proposed amendments that would provide requirements and guidance for reporting on an audit conducted in accordance with both generally accepted auditing standards and the standards of the Public Company Accounting Oversight Board.

August 10, 2015

Are audits of ICFR improving?

Audits of the complex area of internal control over financial reporting (ICFR) may be improving, Jeanette Franzel, a member of the Public Company Accounting Oversight Board, said in a speech.

August 4, 2015

IAASB proposes changes to reporting on summary financial statements

The International Auditing and Assurance Standards Board has released proposed changes related to reporting on summary financial statements.

August 3, 2015

Can auditors expand assurance to meet investors’ needs?

Joe Ucuzoglu, CPA, chairman and CEO of Deloitte’s U.S. audit practice, says expanding assurance opportunities would increase the value auditors provide.

August 1, 2015

What now? Responding to a subsequent discovery of fact

A CPA is required to take action when relevant facts come to light after financial statements or audit reports have been issued. AICPA standards help guide the appropriate response.

July 17, 2015

IAASB completes amendments to auditing standards focused on disclosures

The revisions include changes to 10 international standards on auditing and conforming amendments to five other standards.

July 7, 2015

10 imperatives for internal audit

Internal auditors are facing many new challenges in a world where technology and globalization are leading to rapid changes.

July 6, 2015

New mission, principles articulated for internal audit

An update to professional guidance is designed to help internal auditors assist their organizations in navigating risks.

July 1, 2015

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.

June 30, 2015

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.

June 26, 2015

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.

June 23, 2015

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.

June 1, 2015

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.

June 1, 2015