Audit & assurance news and resources -- Journal of Accountancy

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February 26, 2018

Revised compilation and review report requirements to be included in SSARS No. 24

A new Statement on Standards for Accounting and Review Services will be issued in late May in an effort to decrease the impact on practitioners during busy season.

February 1, 2018

ASB issues new statement of position

Attestation guidance addresses third-party due-diligence services for asset-backed securities.

February 1, 2018

PCAOB issues staff guidance on new auditor’s report

Much of the new reporting model is in effect.

February 1, 2018

ASB addresses auditor’s report, other information, standards alignment

Comments on three proposals are due May 15.

February 1, 2018

Guidance for sustainability attestation engagements

Read excerpts from a new AICPA-issued sustainability guide issued to aid practitioners taking on attestation services in this emerging area.

January 1, 2018

SEC approves PCAOB’s new auditor’s reporting model

It’s the first major change to the standard form in 70 years.

January 1, 2018

The risks, and potential rewards, of rotating chief audit executives

Organizations should be wary of assigning a chief audit executive to the role for a short, predetermined time.

January 1, 2018

PCAOB identifies most frequent 2016 audit issues

Staff inspection reports revealed 3 areas of greatest concern.

December 12, 2017

PCAOB gets new chairman, complete new board membership

William Duhnke will chair the Public Company Accounting Oversight Board, and will be joined by board members J. Robert Brown, Kathleen Hamm, James Kaiser, and Duane DesParte.

December 12, 2017

Using audit data analytics in performing a risk assessment procedure

In this excerpt from the AICPA’s new Guide to Audit Data Analytics, learn how to apply the techniques to a risk assessment procedure.

December 6, 2017

How firms can continue to improve audit quality

PCAOB member Jeanette Franzel is calling for audit firms to dedicate additional resources to ensure high-quality audits.

December 6, 2017

Audit committee considerations for the PCAOB’s new audit report

A new Center for Audit Quality tool provides audit committees with important considerations related to the new auditor’s report.

December 4, 2017

Blockchain considerations for management and auditors

Distributed ledger technology, also known as blockchain, presents a twofold challenge for accountants and auditors.

December 4, 2017

PCAOB issues staff guidance on new auditor’s report

The PCAOB issued staff guidance that describes important considerations related to the new auditor’s reporting model.

December 4, 2017

Why are we still auditing on-site?

This article explores reasons for remote auditing.

December 1, 2017

Lessons to learn from SEC accounting and auditing enforcements

Five principles can help prevent, detect, or correct the most frequent securities law violations adjudicated by the SEC.

December 1, 2017

How to audit fair value measurements

The subjective nature of fair value measurements makes them a challenge for auditors. These tips—and a new framework for use by valuation professionals—can make the job easier.

December 1, 2017

What to consider when auditing revenue recognition implementation

The PCAOB warned of increased risks of material misstatement.

November 29, 2017

ASB addresses auditor’s report, other information, standards alignment

Three proposals issued by the AICPA Auditing Standards Board are designed to enhance the relevance and usefulness of the auditor’s report for audits of nonissuers.

November 21, 2017

Attestation guidance for third-party due-diligence services for asset-backed securities

The ASB issued a statement of position providing guidance for attestation engagements related to third-party due-diligence services performed in connection with asset-backed securities.