The practice aid for accounting for and auditing of digital assets has new guidance on auditing the valuation of digital assets along with auditing procedures regarding their existence, rights, and obligations.
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TOPICS / AUDIT & ASSURANCE
Audit
How auditors can apply a forensic-like approach to fraud
Professionals with forensic and fraud expertise share techniques auditors can use when completing AU-C Section 240 requirements.
A&A Focus recap: CECL, leases, and commercial real estate
The May installment of the monthly newscast series also featured a governmental auditing update.
New SSAE caps standards related to quality management
The statement offers new definitions of “other practitioner” and completes the suite of standards that firms performing A&A services are required to use to design and implement a QM system by Dec. 15, 2025, and to perform A&A services in accordance with for engagements beginning on or after that date.
PCAOB updates general auditor responsibilities, quality control rules
PCAOB updates general auditor responsibilities, quality control rules
AS 1000, General Responsibilities of the Auditor in Conducting an Audit, replaces AICPA-provided standards, and QC 1000, A Firm’s System of Quality Control, considers the AICPA’s new quality management standards.
Auditor resource: Considerations for commercial real estate
A PCAOB staff report considers the changing world of commercial real estate, offering advice for public company auditors that also applies to auditors outside of the PCAOB’s purview.
Root cause analysis: Auditor tool gaining traction on multiple fronts
A new PCAOB report highlights how audit quality can be improved by root cause analysis — an approach the federal board eventually could require and one addressed in new AICPA quality management system standards.
A&A Focus recap: A&A risk, not-for-profit update, SQMS, and ERC
The April installment of the monthly newscast series covered topics ranging from current practitioner risks and the quality management standards to ERC considerations and a not-for-profit industry update.
PCAOB proposals call for firms to disclose more about themselves
The proposals, open for public comment through June 7, cover 11 firm and engagement metrics as well as new annual and special reporting requirements in five key areas.
Managing change in audit technology transformation
Constant change can be exhausting. To transform their audit technology despite change fatigue, firms can follow these tried-and-true suggestions.
A&A Focus recap: Lease challenges, SAS 145, and fraud
The March installment of the monthly newscast series covered topics ranging from year 2 lease accounting issues and commercial real estate risks to SAS No. 145 updates for auditors and fraud risks during audits.
The auditor’s approach to fraud: Enhanced with forensics
Professionals with forensic and fraud expertise share techniques auditors can use when completing AU-C Section 240 requirements.
Data analytics and visualization in the audit
The ability to quickly identify key points in large quantities of data — and to illustrate those findings to assess audit-related impacts — gives auditors a key tool for transforming audit processes.
PCAOB reconsidering auditors’ role in noncompliance reporting
The regulator scheduled a virtual roundtable and reopened the comment period in response to concerns about proposed amendments to the auditor’s responsibility for considering a company’s noncompliance with laws and regulations (NOCLAR).
A&A Focus recap: ASB update, technology spotlight, AR-C Section 70, and CECL
The February AICPA accounting, audit, and attest webcast brought together experts, including the chairs of the Auditing Standards Board (ASB) and the Accounting and Review Services Committee (ARSC), to provide updates on recent news.
Explaining the role of ARSC and its decision tree
The chair of the AICPA Accounting and Review Services Committee details the committee’s focus areas, including the recently released interactive tool for practitioners. Listen to the podcast or read the Q&A.
7 reasons for deficiencies in audits of broker-dealer annual reports
A PCAOB spotlight report recommends actions that auditors and firms can take to produce compliant attestation engagements.
What AI can do for auditors
Firm leaders explain why they are using artificial intelligence to transform audits and how they are handling barriers to AI adoption.
A&A Focus recap: FASB updates, BOI, busy season tips
The first episode of the monthly newscast series also covered employee benefit plan audits, commercial real estate, and artificial intelligence.
Auditor options when finding ineligible ERC claims
With the IRS challenging the validity of many employee retention credit (ERC) claims, what should practitioners do if they come across questionable ERC claims during audit engagements? Experts Robert Durak and Michael Westervelt provide answers.
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Flip out with the latest Tech Q&A
The September Technology Q&A column shows how to create dynamic to-do lists with Excel's checkboxes and also how to set up multifactor authentication texts that don't rely on phones. Flip through both items and view a video walkthrough in our digital format.
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