Personal Financial Statements
Personal financial statements are prepared for individuals either to formally organize and plan their financial affairs in general or for specific purposes, such as obtaining credit, income tax planning, retirement planning, gift and estate planning, or public disclosure of their financial affairs
Published on July 09, 2008
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
PCC Accounting Alternative VIE Consolidation of Common Control Lease Activities
FASB ASU 2014-07 amends the guidance in FASB ASC 810, to provide private companies with an accounting alternative not to apply VIE guidance for common control leasing arrangements when certain conditions are met.
Published on March 19, 2014
Related Party Transactions Considering some Audit Issues
The intent of the ASB in revising AU section 334, Related Parties, was to improve the auditor’s understanding of his or her responsibilities toward related-party relationships and transactions in an audit of financial statements. In some instances, these changes may have raised questions from auditors on the appropriate procedures to
Published on April 16, 2014
Planning & Performing Audit Engagements Focusing on Some Frequently-Encountered Deficiencies
The Audit Risk Alert, General Accounting and Auditing Developments—2013/14, should prove to be a useful tool in helping auditors identify significant risks that may result in the material misstatement of financial statements.
Published on November 20, 2013
Employee Benefit Plan Audits Addressing Some General Audit Considerations
In planning, performing, and reporting on 2012 and subsequent year employee benefit plan [EBP] audits, the new clarified auditing standards now fully are in play and implementation of those standards will...
Published on July 17, 2013
AU-C Section 320 Planning and Performance Materiality Issues
...implementing the clarified auditing technical literature guidance, auditors will notice some modifications associated with requirements that need to be addressed when understanding how materiality considerations should be addressed in planning and performing audit engagements
Published on September 12, 2012
Preparing Compilation Reports Addressing Some Frequently Encountered Practice Issues
Practitioners often encounter situations in which standard compilation report wording is not appropriate. For example, practitioners often question how their reports might or should be modified in specific circumstances.
Published on November 20, 2013
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
Independence & Ethics Alert Addressing Some Current Issues
On an annual basis, the AICPA releases a variety of audit risk alerts that address specific issues that need to be addressed by practitioners when they are performing financial statement audits.
Published on September 28, 2011