Quality Control Requirements Focusing on Engagement Partner Responsibilities
In November 2010, the Auditing Standards Board [ASB] issued the redrafted Statement on Quality Control Standards [SQCS] No. 8, entitled A Firm’s System of Quality Control. The new quality control guidance replaces the guidance currently-utilized in SQCS No. 7, with the same...
Published on November 24, 2010
Statements on Quality Control Recent Peer Review Findings
This report focuses on peer review issues identified with implementation of the AICPA’s statements on quality control, and more specifically Statement on Quality Control Standards (SQCS) No. 8, A Firm’s System of Quality Control
Published on October 22, 2014
AU-C Section 220 Quality Control for U.S. GAAS Engagements
In implementing the clarified auditing technical literature guidance, practitioners will notice some new guidance associated with quality control that will need to be followed for engagements performed using U.S. GAAS
Published on June 06, 2012
The join CPEA page describes the benefits and services of the CPEA and the levels of membership. Presents the reasons why joining the CPEA is a smart choice. Provides the cost of the membership levels.
Published on August 28, 2014
OMB Circular A-133 Audits Common Findings and Deficiencies
Recently, the AICPA Ethics Division compiled a list of deficiencies frequently identified in investigations of the Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments and Non-Profit Organizations audits over the last 2 years. The focus of this report will be on the more common findings
Published on August 20, 2014
The Clarified Professional Standards Addressing Some Common Misconceptions
As practitioners are in the midst of performing attest engagements for entities with periods ended December 2014, we wanted to address some common misconceptions about the clarified professional standards.
Published on April 22, 2015
Compilation and Review Engagements Focusing on Some Documentation Miscues
As practitioners are planning to perform calendar-year 2013 compilation and review engagements, it might be helpful to focus on some frequently-encountered documentation deficiencies that are noted in these type engagements.
Published on December 18, 2013
TIS Section 9070 Subsequent Events
Last week, the AICPA released some “technical” guidance related to financial statement audits when the reporting entity has incurred significant losses from natural disasters. This guidance is included in TIS Section 9070, entitled Subsequent Events.
Published on September 07, 2005
AU-C Section 300 Planning Considerations in Audit Engagements
In implementing the clarified auditing technical literature guidance, auditors will notice some modifications associated with requirements that need to be addressed when planning audit engagements.
Published on July 18, 2012
SAS No. 128 AU-C Section 610 Using the Work of Internal Auditors
The issuance of SAS No. 128 culminates the ASB clarity project in that, now, all of the auditing technical literature has been rewritten in the clarified format. The revised AU-C section 610 guidance is effective for audits of financial statements for periods ending on or after December 15, 2014.
Published on March 19, 2014