Capping off a busy year, the annual American Institute of Certified Public Accountants Conference on Current SEC and PCAOB Developments, held on December 10-12, 2018, revisited many familiar themes from prior years and...more
1/3/2019
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Accounting Standards ,
AICPA ,
Audit Committee ,
Audits ,
CPAs ,
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GAAP ,
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PCAOB ,
Securities and Exchange Commission (SEC)
Last week, PCAOB Chairman William Duhnke delivered a keynote speech at the American Law Institute’s Accountants’ Liability 2018 Conference in Washington DC, in which he described recent efforts and future plans for the PCAOB...more
Last week, the PCAOB released a draft of its five-year strategic plan for 2018-2022. As PCAOB Chair William D. Duhnke noted, “[t]his draft strategic plan is the product of significant engagement among PCAOB leadership, staff,...more
Earlier this week, the Center for Audit Quality released Critical Audit Matters: Key Concepts and FAQs for Audit Committees, Investors, and Other Users of Financial Statements. The tool builds upon the CAQ’s December 2017...more
Always a fertile source of guidance, this year’s American Institute of Certified Public Accountants Conference on Current SEC and PCAOB Developments, held on December 4-6, was no exception. Discussions during this year’s...more
In a November 14 speech at the Financial Executives International 36th Annual Current Financial Reporting Issues Conference, SEC Chief Accountant Wesley Bricker commented on a range of topics, including effective financial...more
On October 23, 2017, the Securities and Exchange Commission approved the Public Company Accounting Oversight Board’s revised auditing standard, AS 3101, governing the contents and form of the audit report. As noted by SEC...more
The staff of the Public Company Accounting Oversight Board recently published a Staff Inspection Brief regarding its 2017 inspections of registered audit firms. As described in the corresponding news release, the goal of the...more
SEC Chief Accountant Wesley Bricker recently delivered another speech in which he discussed current issues in financial reporting and highlighted the critical roles that auditors, audit committees and audit regulation play in...more
On June 1, the Public Company Accounting Oversight Board unanimously adopted a revised auditing standard governing the contents and form of the audit report delivered by registered public accounting firms as part of their...more
This year’s American Institute of Certified Public Accountants Conference on SEC and PCAOB Developments, held on December 5-7, echoed several themes from prior AICPA conferences regarding regulatory priorities of interest to...more
In a further expansion of its outreach efforts, the Public Company Accounting Oversight Board has established a Form AP webpage with resources for investors, auditors, and others interested in the information to be collected...more
On May 11, the Public Company Accounting Oversight Board unanimously agreed to repropose a revised auditing standard governing the contents and form of the audit report delivered by registered public accounting firms in their...more
On April 5, the PCAOB issued a report regarding compliance with Auditing Standard No. 16, Communications with Audit Committees (AS No. 16), based on its inspections of issuer audits during its 2014 inspection cycle. AS No. 16...more
As part of its annual budget process for 2016, the Public Company Accounting Oversight Board reviewed the priorities set forth in its 2015-2019 Strategic Plan.
Commenting on the adoption of its $257.7 million budget for...more
Culminating a process begun in 2009, and that encompassed a concept release and three separate rule proposals, the Public Company Accounting Oversight Board has adopted new auditor transparency rules. The rules will require...more
At an open meeting on June 30, 2015, the Public Company Accounting Oversight Board unanimously voted to publish a supplemental request for comment on potential rules to require the disclosure of certain audit participants on...more
As part of its audit committee outreach efforts, the Public Company Accounting Oversight Board has established a webpage called "Audit Committee Dialogue" focusing on recurrent areas of concern identified by the PCAOB over...more
The Securities and Exchange Commission plans to issue a concept release in early 2015 addressing possible changes in the audit committee disclosures in proxy statements. SEC Chair Mary Jo White disclosed this plan at the...more