A&A news December 2013 | AccountingWEB

A&A news December 2013


CAQ Issues RFPs on Auditing Research

The Center for Audit Quality (CAQ) has sent out a request for proposals (RFPs) to fund independent academic research on several key auditing policy issues.

Survey Finds CPAs Have a Bleak View on US Economy for 2014

CPAs in New Jersey, New York, and Pennsylvania believe economic conditions will likely be the same one year from now. While they predict higher business revenues for their states next year, they do not have the same optimism for workforces.

Bramwell's Lunch Beat: E-Filers Get Pat on the Back

Here are "Bramwell's Lunch Beat" menu items for December 6.

AICPA Expresses Concern with Cash Method Limitations in Baucus Proposal

The AICPA has sent a letter to the chairman and ranking member of the Senate Committee on Finance opposing any limitation on the use of the cash method of accounting on natural persons, pass-through entities, personal service corporations, and farmers.

Bramwell's Lunch Beat: How Twitter Masks Its Losses

Here are "Bramwell's Lunch Beat" menu items for December 5.

PCAOB Reproposes Naming Engagement Partner in Reports

A revised proposal of a 2011 measure that would require public accounting firms to disclose in the auditor's report the name of the engagement partner who oversees an audit was issued by the PCAOB.

Bramwell's Lunch Beat: Morgan Stanley's Boo-Boos

Here are "Bramwell's Lunch Beat" menu items for December 4.

Complexity Still an Issue for Income Tax Accounting Standard

FASB says it will continue to analyze the FAF's post-implementation review of FASB Statement No. 109. The FAF had concluded that, while generally achieving its purpose, the standard may still be too complex.

GASB Makes Fix to Pension Standards

The Governmental Accounting Standards Board (GASB) has corrected a potential issue with the transition provisions of accounting standards on pensions for state and local governments.

PCAOB to Discuss Disclosure of Audit Engagement Partner

The PCAOB will reexamine for public comment a proposal that would require the names of the engagement partner and certain other participants in an audit to be disclosed in the auditor's report.

Economic Analysis Key Piece of PCAOB 2014 Budget

The PCAOB approved its 2014 fiscal year budget of approximately $258.4 million and its 2013-2017 strategic plan – both of which include an emphasis on economic analysis being used in the PCAOB's work.


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