Special Issues Related to Asset Retirement Obligations
FASB ASC 410 provides the authoritative guidance for the classification and measurement of obligations arising from the future cost of retiring long-lived tangible assets.
Published on October 26, 2011
SFAS No. 141R - Some Implementation Guidance
In December 2007, the FASB finalized tandem documents that change the landscape related to accounting and reporting for business combinations and noncontrolling interests that are reflected in consolidated financial statements.
Published on February 06, 2008
Preparing Financial Statements for Use by Reporting Entity Auditors
Given the current practice environment, it is not uncommon for practitioners who are engaged to audit financial statements [or even review the statements] to keep a distance from clients related to preparing financial...
Published on January 21, 2009
Management Vie Assessments Some Compilation & Review Engagement Guidance
TIS section 9150 Includes new questions and answers related to when management does not perform required assessments of affiliated entities to determine if they are VIEs that need to be consolidated in the financial statements
Published on May 01, 2012
New TPA Guidance Management Representations
The AICPA recently issued a new TPA that addresses whether management representations on prior period are required when only single year financial statements are presented
Published on October 22, 2014
AU-C Section 580 Written Representations From Management
In implementing the clarified auditing technical literature guidance, auditors will notice some new guidance associated with written representations from management that are required to be obtained in each financial statement audit
Published on January 02, 2013
New Technical Practice Aid Guidance Compilation Reports & SBLF Audit Reports
Over the past several months, the AICPA audit and attest services team has released several different Technical Practice Aids [TPAs] addressing a variety of attest engagement issues
Published on February 29, 2012
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
2011-2012 Compilation & Review Alert Addressing Some Current Practice Issues
The AICPA has released its annual alert addressing some current-period issues that need to be addressed when practitioners are performing compilation and review engagements.
Published on January 18, 2012
Going Concern Codified Into U.S. GAAP New Challenges for a Delicate Process
On August 27, 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This report provides a summary of this new standard as well as some potential implications for the attest literature.
Published on September 17, 2014