Audit & assurance news and resources -- Journal of Accountancy

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March 23, 2022

Proposal would supersede auditing standard for group audits

The AICPA Auditing Standards Board is seeking comments on a proposed Statement on Auditing Standards that seeks to strengthen the auditor’s approach to planning and performing group audits and to improve the quality of such audits.

March 17, 2022

Not-for-profit audits in a remote world, plus IRS news

Learn how the abrupt shift to remote work affected not-for-profit audits and how they’re coping now, plus the latest news, in this podcast episode with transcript.

February 7, 2022

Proposal would amend auditing standard for compliance audits

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.

February 4, 2022

Clarified peer review standards approved by Peer Review Board

The AICPA Peer Review Board approved guidance that is designed to make peer review guidance for CPA firms and peer reviewers easier to read, understand and apply.

February 1, 2022

Embracing technology in the audit

Firms and practitioners are using digital tools to provide more value to clients.

January 31, 2022

PCAOB seeks input on plans for new advisory groups

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.

January 25, 2022

Audit quality stable amid pandemic, audit committee members say

Despite pandemic-related concerns about the ability of auditors to work effectively, 98% of audit committee members said in a new survey that audit quality either increased or stayed the same over the past year.

January 12, 2022

Profession intensifies diversity efforts with new CAQ initiative

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.

January 1, 2022

A refreshed focus on risk assessment

Audit firms may have to change some processes in response to a new standard and pandemic-fueled changes to the environment.

December 16, 2021

ESG assurance opportunities likely to grow for CPA firms

Companies may need more rigorous assurance on environmental, social, and governance data as regulatory obligations emerge. CPA firms are poised to deliver.

December 8, 2021

Audit tips for a pandemic-changed environment

Auditors have a lot to think about as clients experience supply chain disruptions, staff shortages, and new processes and procedures. Here’s what firms need to focus on in this challenging environment.

December 6, 2021

What auditors need to know about ESG issues

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.

December 2, 2021

Digital assets: Auditing, accounting, and what’s next

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.

November 23, 2021

6 lessons from audit experts who adopted AI early

Machine learning is within reach for many audit firms.

November 19, 2021

Diving deeper into smaller frauds due to COVID-19

The coronavirus pandemic has created special challenges for practitioners to consider related to fraud. In the current environment, smaller instances of fraud, many times immaterial to an audit, are now becoming significant and need additional attention.

November 10, 2021

Audit committee cybersecurity disclosures on the rise

The number of public company audit committees that disclose their role in cybersecurity risk oversight has grown dramatically over the past five years, according to a Center for Audit Quality report.

November 8, 2021

PCAOB gets new chairperson, board members

Erica Williams has been named chairperson of the Public Company Accounting Oversight Board. She will be joined on the board by Christina Ho, Kara Stein and Tony Thompson. Duane DesParte will continue his service on the board and will serve as acting chairperson until Williams is sworn in.

November 3, 2021