CPEA Report Results in Elimination of the Disclosure of Open Tax Years When No Unrecognized Tax Benefits Exist
This alert informs readers about the deletion of TPA 5250.15, which results in the elimination of the requirement to disclose open tax years when no uncertain tax positions exist
Published on March 24, 2015
Proposed AICPA Framework Accounting By Small & Medium-Sized Entities
December 5, 2012 On November 1, 2012, the AICPA released an exposure draft of the much-anticipated private company financial reporting framework, entitled Financial Reporting Framework for Small and Medium-Sized Entities [FRF-SMEs]. As proposed, the F
Published on December 05, 2012
Controversy Over the Applicability of the Disclosure Requirement of Open Tax Years Unintended Consequences and Lessons f...
This report covers the applicability of a seemingly benign, but ambiguous, disclosure requirement of FIN 48 to provide a description of tax years open to examination
Published on March 18, 2015
Compilation & Review Alert Addressing Some Practice Issues
The AICPA recently released the 2010-2011 Compilation and Review Alert.In addition to addressing practical implementation issues associated with SSARS No. 19, the Alert addresses several other practice issues that need to be considered when practitioners are performing and reporting on compilation and review engagements.
Published on January 05, 2011
Compilation & Review Engagements Focusing on Some Current Peer Review Matters
Now that practitioners are in the second cycle of performing and reporting on compilation and review engagements using the requirements within SSARS No. 19, they might want to be aware of some issues that will be receiving a heightened level of scrutiny when they are going through their peer reviews,
Published on December 21, 2011
New Independence Guidance Cumulative Effect of Multiple Nonattest Services
On August 13, 2013, the AICPA Professional Ethics Executive Committee [PEEC] voted to finalize amended guidance associated with implementing Interpretation 101-3.
Published on September 25, 2013
Accounting Guidance for Condensed Interim Reports
In February 2009, the Auditing Standards Board [ASB] and the Accounting and Review Services Committee [ARSC] simultaneously released a new SAS [ASB] and a new SSARS [ARSC], that clearly-stipulate how reviews of interim financial information should be performed, where the applicable technical literature could be in the SASs or could
Published on March 18, 2009
Changes to the Auditors Risk Assessment in Light of the Updated COSO Internal Control Framework
Many auditors will need to reconsider or change their risk assessment procedures in light of the updated COSO Internal Control Framework.
Published on December 17, 2014
Changes Ahead for Revenue Recognition
Most of the authoritative literature provides industry or transaction-specific implementation guidance, and was developed largely on an ad hoc basis and issued in numerous pronouncements.
Published on December 22, 2010
Designing Analytical Procedures in a Review Engagement
In performing the inquiry and analytical procedures for a review engagement, it is important to understand that these performance requirements are not to be performed in a “mechanical” manner.
Published on July 07, 2010