Compilation & Audit Reports Some New Practical Implementation Guidance
In May 2012, the AICPA released two practice aids addressing compilation reporting issues in two areas, business valuation engagements and independence matters, and there also is some guidance that might be considered when audit reports are modified to address going concern issues
Published on July 04, 2012
Special Issues Related to Asset Impairment
Impairment models under U.S. GAAP vary depending on the asset subject to the impairment test.
Published on August 05, 2009
SSARS No. 21 Changes in the Landscape for Accountants in Public Practice Who Prepare Financial Statements
SSARS No. 21 represents the most significant changes to the compilation and review literature in decades, and draws a bright line between accounting and reporting services.
Published on November 19, 2014
PCC Finalizes Issue 13-01a Identifiable Assets in a Business Combination
This report discusses a recently approved accounting alternative for private companies that have identifiable assets in a business combination
Published on October 22, 2014
Special Issues Related to Risks & Uncertainties
Volatility and uncertainty in the business and economic environment result in the need to disclose information about the risks and uncertainties confronted by reporting entities. FASB ASC 275 requires disclosures that focus primarily on risks...
Published on April 11, 2012
SFAS No. 157 Some Implementation Guidance
As reporting entities [and practitioners associated with those entities] begin considering the “how tos” associated with implementing SFAS No. 157, it is important to consider some recently-issued FASB Staff Position [FSP] guidance associated with this technical literature.
Published on March 05, 2008
AU-C Section 620 Using the Work of an Auditor Specialist
In implementing the clarified auditing technical literature guidance, auditors will notice some significantly-modified guidance when they are using either management specialists or their own specialists.
Published on January 16, 2013
Peer Review Feedback -- Some Frequently-Encountered Deficiencies
In the peer review process, peer reviewers document areas where firms encounter difficulties in complying with attest engagement technical literature requirements.
Published on June 05, 2013
FASB ASC 275 Disclosing Risks and Uncertainties
While the currently-applicable disclosure requirements associated with risks and uncertainties are not new, especially given the current economic environment, certain of those disclosures might be considered to be of enhanced significance.
Published on March 17, 2010
SFAS No. 157 Some Implementation Questions that are Answered
While the technical literature provisions with SFAS No. 157 do not become effective until calendar-year 2008 financial statements are being prepared and reported on, certain questions already are being asked about “how to do” the fair value measurements within this recently-issued accounting technical literature guidance.
Published on July 25, 2007