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PCAOB: Deficiencies Continued in 2013 Broker-Dealer Audits

Seventy-one of 90 broker-dealer audits inspected by the PCAOB in 2013 were found to have audit deficiencies or audit-independence issues, according to a new report released on Monday. Deficiencies were also found in 56 of 60 firms that conducted broker-dealer audits.

Auditing Special Purpose Frameworks: Inquiries

Inquiries are recognized in the auditing standards along with other types of tests and are normally the most cost efficient of all auditing procedures. Responses provide information useful from start to finish.

Auditing Special Purpose Frameworks: Key Controls

Key controls in smaller audits— the elements that have a pervasive affect upon the accomplishment of management's control objectives.

Auditing Special Purpose Frameworks: the General Ledger

One of the most significant analytical procedures is reading, or scanning, the general ledger account activity. It can have a major effect on audit strategy.

Auditing Special Purpose Frameworks: Reviewing Prior-Year Audit Documentation

If you want to get the right answers in an audit, you have to ask the right questions, and that requires a prior-year review.
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