Auditing Standards

A&A

CAQ Issues Practice Aid and Announces Webcast

The CAQ just released a practice aid intended to encourage audit firms to proactively communicate with audit committees and has announced its upcoming webcast, “Communications with Audit Committees: Requirements and Leading Practices.”
A&A

The IFAC Supports Stronger Independence Rules

The International Ethics Standards Board for Accountants, an independent international standards board supported by the IFAC, has proposed strengthening current rules for auditor independence.
A&A

Has SOX Been Successful?

Sometimes overlooked in the debate about SOX are the contributions it has made in generating a greater focus on improved corporate governance and stronger ethics and compliance programs. Needed improvement in audit quality is a continuing concern.
A&A

ABS Seeks Feedback Specific to Auditor's Reports

The AICPA's Auditing Standards Board is asking members to complete a survey designed to help inform its response to the IAASB's Invitation to Comment regarding auditor's reports on financial statements.
A&A

PCAOB Approves New Standard on Communication

The PCAOB voted unanimously on August 15, 2012, to approve a new standard that will enhance the quality of communications between the auditor and the audit committee.
Education & Careers

IAESB Proposes Revised Professional Development Standards

The IAESB has released for public exposure a proposed revision of International Education Standard (IES) 8, Professional Development for Engagement Partners Responsible for Audits of Financial Statements.
A&A

Internal Auditors Play Greater Role in Business

Internal audit leaders from top organizations share how they've reshaped the internal audit function to meet new risk and compliance needs.
A&A

SOX Has Restored Investors' Confidence

Ernst & Young has released a report - "The Sarbanes-Oxley Act at 10" - that considers the legislation, discusses what it was designed to do, and analyzes its impact.
A&A

Auditor Independence and Audit Firm Rotation

On March 21 and 22, 2012, the PCAOB hosted a public meeting to obtain further input on ways to enhance auditor independence, objectivity, and professional skepticism, including through mandatory rotation, or term limits, for audit firms.
A&A

PCAOB Proposes Auditing Standard on Related Parties

On February 28, the PCAOB issued for public comment a proposed auditing standard - Related Parties. The proposed standard would improve the auditor's evaluation of a public company's identification of, accounting for, and disclosure about its relationships and transactions with related parties.

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