Audit standards

Public company audits are improving, according to Securities and Exchange Commission Chief Accountant James Schnurr -- and they need to keep on doing so.

The American Institute of CPAs’ Auditing Standards Board has issued a new auditing standard on internal control and an interpretation related to the sustainability financial statements used by the government for long-term projections of social insurance programs.

The CAQ highlights nine areas auditors will want to pay particular attention to in the next audit cycle

The Public Company Accounting Oversight Board issued a report Thursday warning about significant deficiencies it is seeing in auditing firms’ assessment of risks in their clients.

An overwhelming majority of corporate board directors oppose the Securities and Exchange Commission’s proposal to require mandatory disclosure of communications between audit committees and auditors, according to a new survey.

The Public Company Accounting Oversight Board issued a disciplinary order permanently barring CPA David A. Aronson from associating with a registered public accounting firm, and permanently revoking the registration of his firm, David A. Aronson CPA PA.

The International Federation of Accountants has released a Guide to Compilation Engagements to help accountants in small and midsize practices.

The Institute of Internal Auditors has sent a letter to the Securities and Exchange Commission calling on the SEC to require internal audit functions for all publicly traded companies.

Last year, the percentage of non-audit fees dropped below 10 percent of the total fees paid to audit firms for the first time since Sarbanes-Oxley, according to a new report.

The Public Company Accounting Oversight Board announced that the next meeting of its Investor Advisory Group.

Almost nine in ten audits of broker/dealers examined in 2014 had deficiencies, according to a new Public Company Accounting Oversight Board report, and almost a quarter had independence issues.

The American Institute of CPAs' Auditing Standards Board has issued a new exposure draft proposing amendments to the auditing standard on auditor’s reports.

The International Auditing and Assurance Standards Board has released an exposure draft proposing changes to how auditors should handle engagements reporting on summary financial statements.

The Anti-Fraud Collaboration, a joint effort of the Center for Audit Quality, Financial Executives International, the Institute of Internal Auditors and the National Association of Corporate Directors, has released the third in a series of case studies examining how to identify and stop accounting fraud in an organization.

The International Auditing and Assurance Standards Board released an exposure draft proposing amendments to its International Standards on Auditing in response to recent proposals from International Ethics Standards Board for Accountants on how to respond to noncompliance with laws and regulations.

The Public Company Accounting Oversight Board has disciplined seven audit firms and seven auditors who worked at the firms for violations of the Engagement Quality Review standard and other requirements.

A new academic study casts doubt on whether efforts to require companies to rotate their audit firms lead to greater professional skepticism on the part of auditors.

The International Auditing and Assurance Standards Board has release its revised International Standards on Auditing to provide more focus on financial statement disclosures.

Deloitte & Touche chairman and CEO Joe Ucuzoglu, who leads Deloitte’s audit practice, is preparing the firm for the audit demands of the future, with the help of sophisticated technology.

The Institute of Internal Auditors has enhanced its International Professional Practices Framework, which has provided internal auditors worldwide professional guidance in various forms since 1947, in response to more recent risks, while also releasing a report on the current pulse of the internal audit profession.