A Center for Audit Quality report reveals an increase in public company audit committee disclosures, particularly related to cybersecurity, while an accompanying report aims to help audit committees manage their growing list of responsibilities.
Advertisement
TOPICS
Audit & assurance
PCAOB proposes new quality control standards
Public comments sought on quality control standards that incorporate standards established by the AICPA and the IAASB.
National taxpayer advocate has concerns about $400,000 audit promise
National Taxpayer Advocate Erin Collins expressed concern for voluntary compliance amid Treasury’s promise that increased IRS funding will not be used to audit people earning under $400,000. She spoke during a session at the annual AICPA & CIMA National Tax Conference.
Resources for organizations requiring an audit related to COVID-19 relief
AICPA & CIMA tools can assist organizations new to single audits or similar compliance engagements.
Inherent risk and SAS No. 145: New concepts and requirements
New inherent risk factors introduced by SAS No. 145 aim to assist in risk identification. Understand how the changes will affect your 2023 audits.
How firms are seizing the ESG opportunity
Sustainability teams are breaking new ground in accounting firms — but staffing and training remain a challenge.
PCAOB seeks comments on interim attestation standards
The PCAOB issued a staff request for information and comment on the application and use of the board’s interim attestation standards.
A quick tour of student loan forgiveness, a quiz, and a letter to the IRS
This express podcast episode with transcript hits the highlights of recent Journal of Accountancy news coverage of student loan debt forgiveness, an AICPA letter urging penalty relief from the IRS, and more.
Significant risk revised: Concept changes under SAS No. 145
SAS No. 145 revises the definition of significant risk. The revisions alter how you conduct elements of your risk assessments. Get the updated information you need and be ready for your 2023 audits.
SEC to auditors: Use care with Chinese engagements
Public audit firms must make sure issuers in China and Hong Kong will grant new lead auditors appropriate access to previous engagements, an SEC official warns.
The ‘mixed bag’ of economic sentiment; recent IRS news; a PCAOB update
Economic optimism is dimming, bringing revenue and profit projections down as well, but more than half of U.S. finance decision-makers say they can use more workers. Learn more about quarterly sentiment, along with a look at IRS news and more, in this podcast episode with transcript.
Using Benford’s Law to reveal journal entry irregularities
Benford’s Law can help uncover indicators of fraud — and anomalies that arise from legitimate business practices.
PCAOB releases review of 2021 inspections, looks forward to 2022 review
The board’s target team provides insights in four areas of focus to provide guidance for public company auditors and shape the PCAOB’s approach to future inspections.
PCAOB, China sign agreement opening door for inspections
The Statement of Protocol allows the PCAOB access to inspect Chinese companies the same way it does in other countries. The PCAOB said it plans to put the agreement “to the test” by mid-September.
PCAOB report: Quality of audits improves in 2021 but still lacking
Deficiency rates decreased in 2021 broker-dealer audits reviewed by the PCAOB, but the board’s report calls for more progress.
PCAOB seeks public comments on 5-year strategic plan
The PCAOB’s Strategic Plan 2022–2026 aims to modernize standards, enhance inspections, strengthen enforcement, and improve organizational effectiveness.
SEC approves PCAOB standards for multi-firm audits
New standards target the growing number of public company audits that feature multiple firms, aiming to strengthen the requirements for lead auditors.
IAASB issues new FAQs for reporting going concern matters
The IAASB has issued a nonauthoritative publication to address some of the common questions related to reporting going concern matters in the auditor’s report.
More companies obtaining ESG assurance, according to global survey
The percentage of companies worldwide providing assurance on ESG reporting increased between 2019 and 2020, but are auditors getting their share of the work?
Untangling client affiliates
The AICPA Code of Professional Conduct requires CPA firms to identify all their financial statement attest client affiliates.
Features
ALSO FEATURED
How to protect nonprofits from hidden fraud risks
CPAs can help not-for-profits spot the red flags of common schemes, so they can take steps to tighten controls and reduce exposure.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
March 6, 2026
