Audit & assurance news and resources -- Journal of Accountancy

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August 3, 2022

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.

August 1, 2022

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?

August 1, 2022

Untangling client affiliates

The AICPA Code of Professional Conduct requires CPA firms to identify all their financial statement attest client affiliates.

August 1, 2022

Fraud is suspected: Now what?

Follow these do’s and don’ts for auditors when potential wrongdoing surfaces.

July 29, 2022

PCAOB, SEC chairs look to strengthen oversight of auditing practices

The Sarbanes-Oxley Act created the PCAOB in 2002 to oversee public company audits. Twenty years later, the PCAOB — backed by the SEC — is emphasizing inspection and enforcement as ways to strengthen investor protections.

July 29, 2022

What’s new in SAS No. 145: Enhanced definitions mean stronger audits

Don’t delay. Understand SAS No. 145, from the AICPA Auditing Standards Board (ASB), and be ready.

July 6, 2022

Audit partners see signs that inflation will persist

Three-fourths of public company audit partners believe inflation will persist for at least 12 months, according to a Center for Audit Quality survey.

July 1, 2022

New possibilities when performing attestation services

Recently issued standards provide options for clients and flexibility for practitioners.

July 1, 2022

Auditor independence relating to government 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.

June 30, 2022

PCAOB reveals selected areas of focus for 2022 inspections

The report highlights 10 areas of focus for inspections and shares five key reminders aimed at helping auditors as they navigate the current economic landscape.

June 21, 2022

PCAOB amends auditing standards to strengthen requirements

The PCAOB adopts amendments to its auditing standards to strengthen requirements that apply to audits involving multiple firms.

June 7, 2022

Tips for firms implementing quality management standards

The chair of the AICPA Auditing Standards Board explains more about implementation of new quality management standards, including timeline advice, in this podcast episode with transcript.

June 3, 2022

PEEC proposals update compliance audit definitions and interpretations

The proposed ethics updates include new or revised definitions and interpretations related to independence during compliance audit engagements.

May 26, 2022

A needed push into remote auditing

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.

May 12, 2022