GAO issues revised Yellow Book standards for government auditors
The revised standards are designed to provide a framework for high-quality work by government auditors.
Auditing
Proposed SSAE would increase flexibility for practitioners in performing attestation engagements
The AICPA Auditing Standards Board issued a proposal that would make numerous changes to the attestation standards, including changing the terminology for what have been known as “review engagements.”
EBP audits: Don’t let your guard down
A healthy dose of paranoia and specialized expertise can help practitioners overcome challenges in employee benefit plan audits.
A journey in audit innovation
To help promote audit quality, KPMG is on an innovation journey with our people, processes and technology.
Strategies for quality work in single audits
Careful testing and thorough documentation are among the keys for quality single audit performance described by Laurie De Armond, CPA, in her summary of observations from the AICPA Not-for-Profit Industry Conference.
Add value to audits with client-focused analytics
Audit data analytics provide an opportunity for auditors to provide more value to clients. But first, firms need to let clients tell them what kind of insights would be helpful.
AICPA issues nonauthoritative guidance for payroll audits
The TQAs discuss engagement and representation letters.
New FAQs address familiarity threats
Safeguards for long-tenured personnel are suggested.
New compilation and review report requirements issued
The AICPA Accounting and Review Services Committee issued Statement on Standards for Accounting and Review Services No. 24, which revises reporting requirements for compilations and reviews.
Quiz: Is your audit addressing your client’s risks?
Take this five-question quiz to gauge your understanding of how to assess and respond to risk during an engagement.
5 things you need to know about the new international ethics code
A new international Code of Ethics for professional accountants contains new guidance on safeguards, cooling-off periods, and other important issues.
The trouble with nondisclosure agreements in attest engagements
CPA firms must take care not to run afoul of professional standards if they are asked to sign nondisclosure agreements.
New standard will include revised compilation and review report requirements
SSARS No. 24 will create and amend AR-C sections.
Audit quality research projects receive AICPA support
All proposals were related to audit quality, evolving skill sets, risk assessment and response, and sufficiency and appropriateness of audit evidence.
ASB issues auditing interpretation on dual reporting
It applies to audits performed beyond PCAOB oversight.
How to maintain independence in audits of insured depository institutions
Auditors of insured depository institutions need to educate themselves and their staffs about independence rules that apply to these engagements.
Save money by having your sustainability report assured
Sustainability reporting has become a common business practice in the United States, and now research shows that sustainability assurance efforts more than pay for themselves in a majority of companies.
Quiz: How much do you know about governmental auditing and single audits?
Specialized knowledge is critical when performing engagements under Government Auditing Standards and compliance audits of federal funds (single audits). Test your expertise in this area.
AICPA issues nonauthoritative guidance for payroll audits
New Technical Questions and Answers issued Tuesday by the AICPA provide nonauthoritative guidance for multiemployer plan payroll compliance services when engaged to perform payroll compliance procedures as an agreed-upon procedures engagement in accordance with AT-C Section 215.
New FAQs address familiarity threats for long-tenured senior engagement personnel
Two new Frequently Asked Questions (FAQs) issued by the AICPA Professional Ethics Division provide nonauthoritative guidance for the effects on independence when senior personnel have been on an attest engagement team for a long period.
