Retail investors’ confidence in audited financial information has risen to near record highs, but confidence in markets outside the United States has plunged.
In an effort to promote convergence with international standards, the AICPA Accounting and Review Services Committee (ARSC) recently proposed changes to standards for review services.
Issues such as the use of emerging technologies and the application of professional skepticism are addressed in a new audit evidence standard.
In separate standards, the AICPA Auditing Standards Board (ASB) addressed ERISA plan financial statements and rules for other information in annual reports.
The amendments focus rules on lending relationships that affect objectivity.
An AICPA committee leader testified recently at a public hearing by the Department of Labor's ERISA Advisory Council, "Beyond Plan Audit Compliance: Improving the Financial Statement Audit Process."
Under a proposal issued by the AICPA Auditing Standards Board, AU-C Sections 800, 805, and 810 would be aligned with the changes introduced by new auditor reporting standards.
The PCAOB released staff guidance documents that are designed to help auditors implement the board’s new standards and amendments on auditing accounting estimates and the auditor’s use of the work of specialists.
A proposal issued by the AICPA Auditing Standards Board (ASB) is intended to provide auditors with enhanced guidance on auditing accounting estimates.
Emerging engagements such as sustainability attestation services and System and Organization Controls reports require auditors to consider materiality for subject matters that can’t be quantitatively measured.
New research performed with the help of the AICPA’s Assurance Research Advisory Group has provided new insights on ways to improve quality in group audits.
Recognizing and overcoming cognitive biases can help practitioners deliver higher quality in their engagements.
Since their issuance in 2006, the risk assessment standards have often been a source of confusion. Here’s how to work with them.
The effect on practice is expected to be minimal.
It’s critical for auditors to understand their responsibilities related to internal controls. Take this quiz to see how much you know about this topic.
The AICPA Auditing Standards Board issued new standards addressing auditor reporting on ERISA plan financial statements and an auditor’s “other information” responsibilities.
The audit process can help employee benefit plan administrators fulfill their fiduciary duties, according to testimony by James Haubrock, CPA, chair of the executive committee of the AICPA Employee Benefit Plan Audit Quality Center.
An understanding of a client’s controls is essential for determining the extent of testing necessary for completion of a successful audit.
Academic research reveals perceptions of the internal auditing function, ways to reduce audit delays, how small businesses use continuous auditing technology, and more.
The AICPA Auditing Standards Board issued standards that are designed to improve auditors’ ability to communicate in auditors’ reports and align generally accepted auditing standards with those of other standard-setting bodies.