Audit standards

The Public Company Accounting Oversight Board has issued a concept release proposing a new approach to changing its quality control standards, the biggest change since 2003.

Technology is ready to disrupt this core service of the profession, and that's going to require a serious response from auditors, according to Alan Anderson of Accountability Plus.

The Public Company Accounting Oversight Board is planning to issue a concept release on revisions in quality control standards while making extensive changes in its inspections and audit reports.

Chairman William Duhnke said the board is also doing more outreach to audit committees.

The American Institute of CPAs’ Auditing Standards Board proposed a strategic plan that will guide the ASB’s work over the next three years.

The Institute of Internal Auditors intends to overhaul its ​Certification in Risk Management Assurance and Internal Audit Practitioner programs next year to meet evolving demands and stay ahead of various risks.

The Public Company Accounting Oversight Board could be making more changes ahead as the audit firm regulator deals with a tumultuous series of transformations in the past two years.

Audit is changing. Technology is the primary driver of what has become a movement to change not just the tools but also the entire process and methodology of audit in the accounting profession.

The International Federation of Accountants issued a report indicating strong support for international accounting and auditing standards, particularly in areas where IFAC member organizations are involved in the process from beginning to end.

A rule requiring audit firms to disclose the names of engagement partners who participated in an audit may not be having much of an impact on audit quality.

The initial batch of audit reports for large accelerated filers describing critical audit matters don’t necessarily provide a whole lot of illuminating information.

Pilot tests at public companies suggest the new reporting requirements may take more time than expected.

Amendments are being added to three sets of standards for special-purpose, single and summary financial statements.

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The fifth largest accounting firm had problems with at least 15 audit clients.

The Public Company Accounting Oversight Board issued four documents explaining the new rules.

The move comes amid worries that firms are letting their clients off the hook too readily.

AICPA chief auditor Bob Dohrer shares new developments in the rules around audit evidence, key audit matters for non-public clients, and much more.

The Public Company Accounting Oversight Board released two new documents and a video to provide more information to investors and audit committees about the CAMs requirements.

The American Institute of CPAs’ Auditing Standards Board has released a pair of SASs on ERISA audits and auditor responsibilities.