Ian Dingwall is the chief accountant of the Department of Labor’s Employee Benefits Security Administration (EBSA). Dingwall is EBSA’s primary adviser on accounting and auditing issues stemming from the agency’s responsibilities under the Employee Retirement Income Security Act of 1974 (ERISA), the Federal Employee Retirement Security Act, and the Pension
Advertisement
TOPICS
Audit & assurance
The Standard-Bearer
B en Neuhausen took the helm of the Accounting Standards Executive Committee in 2005 and led the all-volunteer AICPA committee through a tumultuous time during which its responsibilities shifted. On his watch as chairman, AcSEC transitioned from a standard-setting body to a source of practical, nonauthoritative guidance for CPAs and
Successfully Navigating OPEB
EXECUTIVE SUMMARY GASB released two important standards intended to disclose the nature and extent of nonpension post-employment benefit liabilities largely related to health care. Governments are not required to fund the liability, but will face disclosure requirements and operational hurdles if funding is not made. GASB Statement no. 45 ,
Auditing
The goal of the clarity project is to make auditing standards easier to read, understand and apply. Consistent with the ASB’s strategy to converge its standards with those of the International Auditing and Assurance Standards Board (IAASB), each proposed standard has been redrafted using the corresponding International Standards on Auditing
Fair Value Roundtable
O n a quiet Friday in New York—less than a month after that chaotic Friday when Bear Stearns’ stock went into a free fall—a panel of financial reporting experts met with about 200 corporate directors and other stakeholders to discuss the role of accounting in the market turmoil that began
Auditing
For news from the AICPA and state societies, visit www.cpa2biz.com, which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites. More than three-quarters (78%) of audit committee members who participated in a recent survey commissioned by the Center for Audit Quality rated
Audit Confirmation Article Falls Short
As an auditor by training, I was excited to see the article on improving the confirmation process (“Better Evidence Gathering ,” April 08, page 32). The opening paragraphs rightfully acknowledged that many budgets are blown because of time spent chasing confirmation letters until the eleventh hour— usually taking four to
Obtaining Quality Employee Benefit Plan Audit Services – The Request for Proposal
Employee benefit plan sponsors and administrators can save time selecting an audit firm and evaluating the quality of its services by writing a thorough Request for Proposal (RFP). Consider these tips offered by the AICPA Employee Benefit Plan Audit Quality Center: P Provide a brief description of the engagement. Describe
A Global Standard for Professional Ethics
EXECUTIVE SUMMARY Standard setting organizations in more than 100 countries have adopted the International Federation of Accountants’ (IFAC) Code of Ethics for Professional Accountants, while others are in the process of converging with the code. The code applies to professionals in public practice, business, academia and government. The IFAC code’s
Deepening Insolvency Not an Emerging Threat
In reading the article, “ Deepening Insolvency: An Emerging Threat,” by Kelly M. Hnatt, Esq., (Feb. 08, page 40) and the related article, “From the Defense: How to Combat a Deepening Insolvency Claim ,” by Michael E. Keyes, Esq., (Feb. 08, page 44) I was taken aback, as both articles
Rising Expectations
Recent events such as the massive trading losses at Societe Generale, the subprime lending crisis and product recalls associated with Mattel’s international toy manufacturing operations continue to shock financial markets and negatively impact shareholder value. These events have also fostered rising expectations for boards of directors to exert greater oversight
Better Evidence Gathering
Well-designed audit confirmation practices provide valuable third-party evidence that sheds light on financial statement assertions made by management. Confirmations can be an effective tool for auditors working with accounts including payables and receivables, inventory, investment securities, lines of credit and other actual or contingent liabilities. The procedures also can supply
Auditing
For news from the AICPA and state societies, visit www.cpa2biz.com, which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites. The PCAOB voted to adopt Auditing Standard no. 6, Evaluating Consistency of Financial Statements, and an accompanying set of amendments to
Communication Is Key
Catherine Allen et al.’s article (“Navigating the Crossroads of Control and Independence ,” Dec. 07, page 42) was an excellent article clarifying the guidance in Statement on Auditing Standards (SAS) no. 112 as it applies to private company auditors’ responsibilities of communicating internal control matters. Page 46 of the article
2007 in Review: Congressional Impact on CPA Profession
Last year, CPAs had plenty of reasons to pay attention to policymakers’ proposals. Legislation under consideration has the potential to improve tax practices, alter audit practices, and even pave the way for greater competition. AICPA VP Testifies Before Senate Panel on International Accounting Standards Last fall, the Senate Banking
Highlights
The SEC’s Committee on Improvements to Financial Reporting voted in January to support a slate of preliminary recommendations designed to make the information presented by U.S. public companies more useful to investors while reducing the complexity of the financial reporting system. The preliminary proposals included a call for
Auditing
For news from the AICPA and state societies, visit www.cpa2biz.com, which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites. “We were motivated to develop and issue this alert by the auditing challenges presented by the subprime credit situation and its effects
From the Defense: How to Combat a Deepening Insolvency Claim
In 2007, I represented Grant Thornton in its challenge of a deepening insolvency claim in Minnesota. The decision by the Minnesota Court of Appeals in the case—Julia A. Christians, Trustee for the Bankruptcy Estate of Technimar Industries Inc. v. Grant Thornton LLP—could provide useful lessons for accounting firms. Technimar planned
Highlights
FASB issued Statement no. 141(R), Business Combinations , and Statement no. 160, Noncontrolling Interests in Consolidated Financial Statements . Effective for fiscal years beginning after Dec. 15, 2008, the standards are intended to improve, simplify and internationally converge accounting for business combinations and the reporting of noncontrolling interests
Deepening Insolvency: An Emerging Threat?
EXECUTIVE SUMMARY Deepening insolvency is a relatively new and developing legal theory. Courts have disagreed about whether deepening insolvency is a stand-alone tort claim or simply a basis for seeking damages related to fraud, professional malpractice or another claim. If an auditor is alleged to have “missed” an
Features
SPONSORED REPORT
How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
April 30, 2026
Current developments in taxation of individuals: Part 2
April 30, 2026
Hedge funds: Tax structuring, planning, and compliance
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
