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
AICPA Leaders and Key Persons Meet with Lawmakers in Washington
The CPA Advocate. May, 2011. AICPA members met with lawmakers in the 112th Congress to discuss issues important to the accounting profession.
Published on June 03, 2011
Arizona Society of CPAs and CPA Lawmaker Secure Auditor Rotation Victory
The CPA Advocate: June, 2012. The AICPA congratulated the Arizona Society of CPAs and Arizona CPA lawmaker Senator Richard Crandall on their successful repeal of a provision passed in 2011 that would have required charter schools to change auditors every six years.
Published on June 14, 2012
FASB Independence and Fair Value Accounting
The AICPA strongly and unequivocally supports independence of the U.S. and international accounting standard setting bodies, the Financial Accounting Standards Board (FASB) in Norwalk, Connecticut, and the International Accounting Standards Board (IASB) in London.
Published on April 03, 2013
AICPA Issue Brief on whether CPAs should be required to undergo periodic review of their accounting and auditing practices
Published on April 05, 2012
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 auditing federal programs.
Published on March 28, 2013
FTC Rulemaking on Identity Theft Red Flags
Article on CPAs and CPA firms being officially exempted from the FTC’s Red Flags rule with the passage of S.3987, the “Red Flag Program Clarification Act of 2010” in December 2010.
Published on April 19, 2011
AICPA Monitoring PCAOB Forums for Auditors of Smaller Broker-Dealers
The CPA Advocate: August, 2012. The AICPA continues to advocate for a final PCAOB rule requiring inspections of auditors of clearing, carrying and custodial broker-dealers because these broker-dealers directly handle investor funds.
Published on September 19, 2012
Potts v. SEC
Brief of amicus curiae 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