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The business risks associated with new technology seem almost endless. But a new resource can help auditors, management and audit committees discharge their responsibilities associated with those risks.
A new AICPA interpretation provides guidance for when a lease with an attest client impairs independence. This significant revision to the independence rules takes effect soon.
Auditors’ reports will provide additional information, including a “Basis for Opinion” section in all reports, under a new standard issued by the AICPA Auditing Standards Board. Learn more about the new requirements, which include updates related to going concern.
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.
Auditors should perform and report on prior-period audits in accordance with auditing standards in effect at the time the engagement is performed, according to nonauthoritative guidance issued by the AICPA.
The PCAOB staff provided guidance on implementing the new auditor's report.
Changes would affect eligibility criteria and reviewer performance.
The researchers will receive $15,000 in funding and access to 120 auditors to further their blockchain research.
Complying with the new PCAOB auditor’s reporting standard requires careful consideration of the most challenging matters in a public company audit.
Revised rules published in July 2018 by the U.S. Government Accountability Office clarify the need for safeguards for practitioners when performing preparation of accounting records and financial statement services.
The auditor’s report is undergoing its biggest change in 70 years, and the Public Company Accounting Oversight Board staff is providing guidance to assist in implementation.
A state-by-state effort could follow.
The AICPA’s Auditing Standards Board (ASB) voted to issue a new auditing standard, Omnibus Statement on Auditing Standards — 2019.
A new standard emphasizes professional skepticism.
The International Auditing and Assurance Standards Board has proposed new rules designed to ensure that engagement quality reviews maintain their effectiveness.
A new standard includes a revised report format for ERISA engagements.
A new framework designed by the Center for Audit Quality can help firms develop their audit quality disclosures and provide transparency to the public.
The National Association of State Boards of Accountancy (NASBA) is proposing changes to the Uniform Accountancy Act (UAA) Model Rules related to peer review programs.
The AICPA Auditing Standards Board voted to issue a new standard that will more closely align generally accepted auditing standards and the Public Company Accounting Oversight Board’s standards.
New PCAOB rules require disclosure of critical audit matters encountered by auditors during the engagement. Here are some suggestions firms can use to identify critical audit matters.
SPONSORED REPORT
The technology assessment engagementAre you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.
FEATURE
Maximizing the higher education tax creditsA counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.