The Public Company Accounting Oversight Board hosted nearly eighty representatives of auditor oversight bodies from thirty-seven foreign jurisdictions last week during its sixth annual International Auditor Regulatory Institute.
The Institute of Internal Auditors has issued revisions to the International Standards for the Professional Practice of Internal Auditing that will go into effect January 1. The standards are mandatory under the IIA's International Professional Practices Framework.
At the third public meeting on auditor independence and audit firm rotation held October 18, panelists and speakers examined the PCAOB's 2011 concept release on ways to enhance auditor independence, objectivity, and professional skepticism.
The Center for Audit Quality will be hosting the "Communications with Audit Committees: Requirements and Leading Practices" webcast, which will examine the PCAOB's new Auditing Standard 16, "Communications with Audit Committees."
The PCAOB has announced the panelists and schedule of appearances for its October 18 public meeting in Houston. Topics include ways to enhance auditor independence, objectivity, professional skepticism, and firm rotation.
Seven organizations have joined to launch a new tool to assist audit committees in performing an annual evaluation of an external auditor in order to make an informed recommendation whether to retain the auditor.
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.”
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.
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.
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.
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.
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.