ASB Comment Letter to the IAASB on Invitation to Comment Improving the Auditors Report
This comment letter from the ASB to the IAASB discusses the Invitation to Comment: Improving the Auditor’s Report
Published on March 01, 2013
AICPA Comments on IAASBs Proposals to Improve Auditor Reporting
...supported a broad-based approach to improving the transparency and relevance of financial reporting that involves financial reporting standard setters, management, and those charged with governance, as well as auditors
Published on October 17, 2012
Section 404(b) of Sarbanes-Oxley Act of 2002
...that the management of public companies assess the effectiveness of the internal control of issuers for financial reporting. Section 404(b) requires a publicly-held company’s auditor to attest to, and report on, management’s assessment of its internal controls. AICPA believes that all investors in public companies
Published on April 03, 2013
John P. Crowley v. Doris June Chait
...of the Institute's historical role particularly in formulating standards relating to audits, reviews, and compilations, and the reports issued thereon, the AICPA has maintained a strong interest in the scope and bases of civil liability sought to be imposed upon auditors pursuant to those standards. The Institute has no
Published on April 09, 2010
Grant Thornton LLP v. Prospect High Income Fund
Because of their (1) extensive understanding of the accounting profession and, in particular, the role of an independent auditor, and (2) commitment to the public interest, the Texas Society of CPAs and the American Institute of CPAs are deeply concerned about the court of appeals' decision in this...
Published on April 14, 2010
AICPA Comments on Proposed Revisions to Single Audit Data Collection Form
The CPA Advocate: July, 2013. The AICPA supports OMB updating both the Data Collection Form and its instructions; however, the AICPA’s letter also provides a number of overarching and specific comments.
Published on July 18, 2013
Cast Art Industries, LLC Scott Sherman Gary Barsellotti and Frank Colapinto vs. KPMG LLP John Quinn John Shaw Ed Lazor F...
...was brought in the Superior Court of New Jersey, Middlesex County. Plaintiffs, which included Cast Art Industries, LLC (“Cast Art”) and its shareholders, brought suit against KPMG, as an auditor, for failing to detect fraudulent misstatements
Published on October 04, 2010
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
Audit, Attest, and Quality Control ASB Comment Letters
ASB comment letter to other organizations.
Published on September 15, 2014
AICPA Supports New Private Company Council Developing Framework for SMEs
The CPA Advocate: June, 2012. AICPA supports FAF's planned creation of Private Company Council and is developing an OCBOA financial reporting framework for privately held small- and medium-sized enterprises.
Published on February 06, 2013