AICPA Issues New Other Information and ERISA Reporting Standards
The Auditing Standards Board (ASB) of the AICPA has published two new Statements on Auditing Standards (SAS), SAS 136, Forming an Opinion and Reporting on…
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New SEC Commissioner Sworn In
Allison Herren Lee was sworn into office on July 8, 2019 as an SEC Commissioner. Lee was nominated to the SEC by President Donald J.…
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FASB Invitation to Comment Issued
The FASB issues Invitation to Comment (ITC) seeking stakeholder input on the accounting for certain identifiable intangible assets. This includes those acquired in a business combination…
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2019 Commercial Entities Updated
Who’s ready for 2019 Commercial Audits? It’s that time of year again. Check out the updates and enhancements to 2019 Knowledge-Based Audit of Commercial Entities.…
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Successful Peer Reviews – Part 4
When it comes to “delivering quality audits that result in successful peer reviews”, there are strategies that firms should consider. Repeating that statement in all…
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The FASB Proposes Amendments to CECL
The FASB issued a proposed Accounting Standards Update (ASU) that proposes narrow-scope amendments to CECL. Specifically, it addresses items raised by stakeholders in implementing ASU No.…
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Successful Peer Reviews – Part 3
When it comes to “delivering quality audits that result in successful peer reviews”, there are strategies that firms should consider – including around risk assessment.…
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AICPA Proposes New SAS on Audit Evidence
The AICPA’s Auditing Standards Board (ASB) has issued the Exposure Draft, Proposed Statement on Auditing Standards: Audit Evidence. The comment deadline is September 18, 2019.…
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AICPA Proposes Significant Changes to Review Engagement Standards
The AICPA’s Accounting and Review Services Committee (ARSC) has issued the Exposure Draft, Proposed Statement on Standards for Accounting and Review Services: Materiality in a…
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SEC Adopts Amendments to Auditor Independence Rules
The SEC has adopted a final rule, Auditor Independence With Respect to Certain Loans or Debtor-Creditor Relationships. This rule includes amendments to the SEC’s auditor…
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