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.
Benford’s Law can help uncover indicators of fraud — and anomalies that arise from legitimate business practices.
The PCAOB’s Strategic Plan 2022–2026 aims to modernize standards, enhance inspections, strengthen enforcement, and improve organizational effectiveness.
Follow these do’s and don’ts for auditors when potential wrongdoing surfaces.
The AICPA Code of Professional Conduct requires CPA firms to identify all their financial statement attest client affiliates.
You must apply, with one exception, the “Independence Rule” and related interpretations of the AICPA Code of Professional Conduct to your state or local government client’s affiliates.
The PCAOB adopts amendments to its auditing standards to strengthen requirements that apply to audits involving multiple firms.
The proposed ethics updates include new or revised definitions and interpretations related to independence during compliance audit engagements.
The pandemic brought about a surge in remote auditing, a practice which has both pros and cons. CPAs at small firms discuss their experiences with remote audits and what they plan to do in the future, and share tips for making remote audits run more smoothly.
The PCAOB has issued new requirements for auditing accounting estimates and using the work of specialists. The board is seeking comments on the new requirements.
Economic conditions and the environment many companies face have changed substantially as a result of Russia’s invasion of Ukraine.
Learn how data-driven audits can help identify and mitigate risks and why tech tools that automate rote tasks are just one part of the evolution of auditing in this podcast episode with transcript.
The AICPA Auditing Standards Board is seeking comment on a proposed Statement on Auditing Standards that would update the appendix in AU-C Section 935, Compliance Audits.
Firms and practitioners are using digital tools to provide more value to clients.
The PCAOB is creating two new advisory groups and inviting public comment on their structure and operation. The new groups are the Standards and Emerging Issues Advisory Group and the Investor Advisory Group. The comment period runs through Feb. 28.
The Center for Audit Quality announced a strategic initiative intended to increase diversity of talent coming into the accounting profession while raising awareness of the profession’s diversity, equity, and inclusion efforts.
Audit firms may have to change some processes in response to a new standard and pandemic-fueled changes to the environment.
Regulators and standard setters are making ESG disclosures a bigger area of emphasis. But even current standards require ESG-related risks to be considered, and auditors need to know how to audit this information.
A CPA leader shares talks about auditing and accounting related to digital assets — the challenges, the role of skill development, and what’s next in the evolving space.
How familiar are you with AU-C Section 240, which describes an auditor’s responsibilities relating to fraud in an audit of financial statements? Take this quiz to test what you know.