Audit standards

The number of audit deficiencies tied to fair value measurements is still high, but declined for the second year in a row, according to a new analysis of Public Company Accounting Oversight Board inspection reports on auditing firms.

The Securities and Exchange Commission gave its approval Monday to the Public Company Accounting Oversight Board’s new standard for an enhanced audit report.

Companies and their auditors are getting ready for the Public Company Accounting Oversight Board’s new audit reporting model, despite uncertainty over whether the Securities and Exchange Commission will approve the new standard.

The Public Company Accounting Oversight Board will be looking out for some major risk areas at audit firms in the months ahead.

Two alerts spotlight some potential risks facing firms during the 2017 audit cycle.

A staff alert highlights the board’s requirements for auditors, among other things.

The collection includes and audit, performance and accounting standards checklist software.

The Public Company Accounting Oversight Board wants to hear more comments about a proposal to strengthen its existing requirements for a lead auditor's use of other auditors and impose a more uniform approach.

The American Institute of CPAs’ Accounting and Review Services Committee has published an exposure draft of a proposed standard on procedures for attestation engagements, while its Financial Reporting Executive Committee has issued working drafts of some of its industry-specific guidance for various industries.

The Public Company Accounting Oversight Board released a document Wednesday offering information about the main areas its inspectors are looking at during its visits to auditing firms this year.

The U.S. Chamber of Commerce and a group of 27 other major corporations and business trade associations have sent a letter to the Securities and Exchange Commission urging the SEC not to finalize the Public Company Accounting Oversight Board’s proposed changes to audit reports.

The American Institute of CPAs has extended the comment period for its proposed standard for ERISA plan audits for another 150 days.

The Public Company Accounting Oversight Board released a report Friday calling attention to high deficiencies among auditors of brokers and dealers.

Accounting and financial firms and business groups are sending comment letters to the Securities and Exchange Commission ahead of a deadline Friday for approving a new standard from the Public Company Accounting Oversight Board on expanding the scope of audit reports.

Three international standard-setting boards for auditing, accounting ethics and accounting education issued a new publication Monday in the hopes of making accountants and auditors more skeptical of management assertions.

SEC Chair Jay Clayton calls for nominees for open board spots.

The American Institute of CPAs has issued a new guide to help accountants provide assurance on their corporate clients’ environmental information.

The Center for Audit Quality and the Securities and Exchange Commission Historical Society are celebrating the 15th anniversary of the passage of the Sarbanes-Oxley Act with a series of videos featuring commentary from several accounting, finance and auditing experts.

The American Institute of CPAs has released a new standard that provides guidance to auditors about their responsibilities when auditing securities exempt from registration under the Securities Act of 1933 and franchise offerings known as exempt offerings.

Starting last month, audit firms must now disclose the names and locations of other auditors participating over a certain percentage of the audit of public companies.