Audits of FHA-Approved Participants and Related HUD Requirements
...may no longer require FHA to approve loan correspondents (mortgage brokers) participating in the FHA program and HUD would no longer require FHA to submit audited financial statements or audits
Published on May 14, 2013
Audits of Federal Funds (Single Audits)
Entities that receive federal funds including states, local governments, and not-for-profit organizations (NPOs), are subject to audit requirements commonly referred to as “single audits” under the Single Audit Act of 1984, as amended in 1996. The Single Audit Act was enacted to standardize the requirements for...
Published on March 28, 2013
Audit, Attest, and Quality Control ASB Comment Letters
ASB comment letter to other organizations.
Published on March 22, 2013
AICPA Opposes PCAOBs Mandatory Audit Firm Rotation Proposal
The AICPA recently told the Public Company Accounting Oversight Board its Concept Release on Auditor Independence and Audit Firm Rotation, which would require mandatory audit firm rotation, is not likely to achieve the goals the PCAOB intends
Published on January 09, 2012
Legislation Prohibiting Mandatory Audit Firm Rotation Introduced in U.S. House of Representatives
The CPA Advocate: April, 2013. H.R. 1564, introduced by Representative Robert Hurt, a Republican from Virginia, would block the PCAOB from requiring public companies to use specific auditors or require the use of different auditors on a rotating basis.
Published on April 29, 2013
Insurance Company Audits
ISSUE: How the profession should respond to legislation that requires insurers to have annual audited statutory financial reports of insurance companies. BACKGROUND: All states require domiciled insurance enterprises to submit to the state insuran
Published on March 18, 2011
AICPA response - EU Green paper
AICPA Response to European Commission Green Paper, Audit Policy: Lessons from the Crisis
Published on December 07, 2010
April 22, 2010 Letter from the Center for Audit Quality to the Senate regarding potential SOX 404(b) amendment
April 22, 2010 Letter from the Center for Audit Quality to the Senate regarding potential SOX 404(b) amendment to the financial regulatory reform legislation
Published on May 05, 2010
AICPA Advocacy Continuing on Proposed Revisions to Single Audit Rules
The CPA Advocate: March 27, 2013. The AICPA invites members to submit comments by April 26, 2013 to be considered as part of AICPA’s comment letter to OMB.
Published on March 27, 2013
Jury Verdict Against KPMG for Negligent Misrepresentations in Audit Report
Failure to detect misstatements in financial statements result in a $38.8M jury verdict in the Cast Art Industries, LLC vs. KPMG LLP case.
Published on May 03, 2013
AICPA Raises Concerns about Ideas for Potential Revisions to Single Audits
The CPA Advocate: June, 2012. The GAQC comment letter to OMB supports overall goals of potential revisions to single aud requirements but raised concerns about ideas for potential revisions.
Published on June 12, 2012
AICPA Comment Letter to SEC on proposed Broker-Dealer audit requirements
The AICPA's comments on the SEC's proposed amendments to Exchange Act Rule 17a-5 as published in SEC File No. S8-23-11.
Published on August 30, 2011
ARSC Comment Letter on The Evolving Nature of Financial Reporting Disclosure and Its Audit Implications
This comment letter from the ASB to the IAASB discusses the discussion paper The Evolving Nature of Financial Reporting: Disclosure and Its Audit Implications
Published on February 27, 2013
Compilation and Review - ARSC Comment Letters
Listing of ARSC compilation and review comment letters.
Published on February 14, 2013
Potts v. SEC
...for the AICPA in support of the petition of Robert D. Potts. The SEC sanctioned Potts for ""improper professional conduct"" in performing duties as a concurring reviewer during an audit of certain financial statements in 1988 and 1989
Published on April 02, 2013