Today's World of Audits
by Larry Perry, CPA, CPA Firm Support Services, LLC - Larry has over 40 years experience as a CPA practitioner, author of accounting and auditing manuals, author and presenter of live staff training seminars and author of webcast and self-study CPE programs. He is co-founder of CPA Firm Support Services, LLC (www.cpafirmsupport.com), an organization providing resources, training and consulting to smaller CPA firms. Larry writes a weekly blog on AccountingWEB.com focusing on small audits, reviews and compilations. He is currently developing documentation manuals and handbooks for small audits, reviews and compilations and related electronic practice aids.
Latest posts
Jan
27
If it wasn't already enough burden on small businesses reporting under U.S.
Jan
23
We know its busy season and most of us have our heads down working toward tax and audit deadlines. We have little time for our families, recreation, and sleep, let alone paying attention to current events.
Jan
16
In the mid-1980s, CPAs in private industry, government and non-profit organizations, and in public practice were served a huge plate full of professional standards. The term "standards overload" was coined to describe this
Jan
16
The system’s walk-through procedure is often the most cost-efficient, annual risk assessment procedure auditors can use, and it is discussed for the first time in SAS No.109.
Jan
09
What is your favorite form of internal control documentation for audits? Most of us answer based on the practices we learned early in our careers, which have become our personal preferences. Prior to the risk assessment standar
Jan
02
The risk assessment standards opened a door that was unexpected. Auditors were given permission, almost encouraged, to consider the affects of the prior period’s control risk assessment on the current period’s control ris
Dec
24
Statements on Auditing Standards Nos. 109 and 110 require:
Dec
19
Auditing standards encourage a "top down" approach to understanding an entity's internal control, i.e. focusing on key controls first.
Dec
12
For all audit engagments, documentation must evidence compliance with the requirements of applicable SASs. Because SASs are written to be applicable to audit engagements of all sizes, compliance for a small audit engagement will like
