PCAOB to consider rules on auditing estimates, use of specialists
The PCAOB will meet to consider adopting new rules for public company auditors on auditing accounting estimates, including fair value measurements, and on the use of specialists.
Performing an Audit
What ‘dry runs’ reveal about critical audit matters
The new reporting model for public company audits requires practitioners to disclose “critical audit matters” that arise during their work. A new Center for Audit Quality report examines the results of “dry runs” that are designed to help firms develop methodologies for determining and reporting critical audit matters.
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.
Why are we still auditing on-site?
This article explores reasons for remote auditing.
How to improve audit planning effectiveness and efficiency
Attention to the right details during planning can save time and enhance audit quality.
PCAOB expands auditors’ reporting duties
Auditor’s reports will provide more information to financial statement users under new rules.
Audit documentation: Tips for getting it right
Steer clear of three common misconceptions about documentation that can derail an otherwise high-quality audit.
7 steps to planning a successful not-for-profit audit
This column offers tips to help make year-end financial statement audits more effective and less challenging.
11 tips for success with single audits
As a new regulation takes effect for single audits, practitioners need to plan carefully, and test and document skillfully as they perform this specialized work for clients.
PCAOB issues staff guidance for firms naming engagement partner
The Public Company Accounting Oversight Board issued staff guidance for firms filing the new Form AP, which is for disclosing the names of engagement partners and other firms participating in public company audits.
SEC approves PCAOB rule for naming engagement partner
Audit firms will be required to disclose the name of the engagement partner and information about other firms participating in audits under a PCAOB rule that was approved by the SEC.
IAASB issues summary financial statement audit reporting guidance
New auditor reporting guidance related to an engagement to report on summary financial statements audited by that same auditor has been issued by the International Auditing and Assurance Standards Board.
PCAOB approves rule for naming audit engagement partner
The PCAOB voted to approve a new rule that will require disclosure of the name of the engagement partner and other participating firms on a form that will be made public on the board’s website.
PCAOB to vote on naming engagement partner
The PCAOB plans to meet next week to vote on a final standard that would create a new form naming the engagement partner on public company audits as well as other firms that participated in the audit.
Pay attention to nonfinancial measures when performing audits
Nonfinancial data can be just as important as dollars and cents when detecting fraud.
How to perform high-quality EBP audits
Employee benefit plan audits require specialized training and present significant regulatory risk. Following certain best practices can help practitioners deliver high-quality audits.
Can auditors expand assurance to meet investors’ needs?
Joe Ucuzoglu, CPA, chairman and CEO of Deloitte’s U.S. audit practice, says expanding assurance opportunities would increase the value auditors provide.
A 6-point plan to improve audit quality
A new six-point plan released by the AICPA provides a road map for enhanced performance on audits of private companies, employee benefit plans, and governmental entities.
PCAOB seeks feedback on new idea for identifying engagement partner
The PCAOB voted to seek public comment regarding a proposal for naming the engagement partner in public company audits, in addition to identifying other firms that contribute to the audit.
PCAOB schedules open meeting on naming audit engagement partners
The PCAOB has scheduled a public meeting to consider seeking public comment on a new proposal for naming audit engagement partners.
