Audit & assurance

The PCAOB inspections staff revealed five areas of focus for its 2015 inspections of auditors and brokers and dealers.

The AICPA has released new nonauthoritative guidance for auditors regarding their independence responsibilities with respect to required supplementary information in a specific situation.

The PCAOB issued a report urging auditors of broker-dealers to reexamine their audit processes in light of board inspection findings.

The Auditing Standards Board has proposed amendments that would provide requirements and guidance for reporting on an audit conducted in accordance with both generally accepted auditing standards and the standards of the Public Company Accounting Oversight Board.

The International Auditing and Assurance Standards Board has released proposed changes related to reporting on summary financial statements.

The revisions include changes to 10 international standards on auditing and conforming amendments to five other standards.

Internal auditors are facing many new challenges in a world where technology and globalization are leading to rapid changes.

An update to professional guidance is designed to help internal auditors assist their organizations in navigating risks.