Employee Benefit Plan Audits Considering Some Risk Assessment Issues
Audit risk is the risk that an auditor expresses an inappropriate audit opinion when financial statements are materially misstated. Audit risk is a function of the risks of material misstatement...
Published on July 17, 2013
Audits Versus Examinations A Primer And A Look At Forthcoming Changes
Many practitioners have been performing attest engagements for their clients under the SSAEs for years. However, practitioners are sometimes asked to perform an examination of subject matter where, depending on the subject matter, it is sometimes unclear what standards should be followed.
Published on March 19, 2014
Audit Planning Issues The Importance of Risk Assessment
Discussions in these materials are focused on some of the more common pitfalls and issues associated with the risk assessment process and on providing a refresher on some of the key points that need to be addressed in implementing the risk assessment technical literature requirements.
Published on January 15, 2014
Audit Report Dating Considering When Dual Dating is Appropriate
In some instances, auditors raise questions related to whether it would be appropriate to dual date their reports or whether they should reissue their previously issued reports using new report dates. As such, these materials include discussions focused on two issues where dual dating of reports might be appropriate.
Published on April 16, 2014
Planning & Performing Audit Engagements Focusing on Some Frequently-Encountered Deficiencies
The Audit Risk Alert, General Accounting and Auditing Developments—2013/14, should prove to be a useful tool in helping auditors identify significant risks that may result in the material misstatement...
Published on November 20, 2013
Compilation & Audit Reports Some New Practical Implementation Guidance
...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
Group Audits Addressing Some Practical Issues
...the AICPA released a series of technical practice aid [TPA] questions and answers that should be helpful to auditors in implementing the clarified auditing technical literature associated with group audit engagements
Published on April 24, 2013
SAS No. 117 Compliance Audits
The Auditing Standards Board [ASB] has released SAS No. 117 [AU Section 801], entitled Compliance Audits. The guidance in SAS No. 117 replaces the guidance in SAS No. 74, entitled Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance
Published on December 23, 2009
SAS No. 115 Audit Risk Alert Guidance
The AICPA Accounting and Auditing Publications team, following approval by the Audit and Attest Standards Staff, has released some implementation guidance that should be very helpful to practitioners in their efforts to appropriately-implement the new SAS No. 115, control deficiency...
Published on February 18, 2009
Broker-Dealer Audits PCAOB Continues to Identify Issues
The Public Company Accounting Oversight Board [PCAOB] recently announced that they continue to find many issues with audits of broker-dealers, despite some improvements
Published on June 09, 2014