Financial Reporting Center

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Financial Reporting Center

The Financial Reporting Center helps CPAs meet the challenges of providing high quality financial reporting. Whether you are a financial statement preparer or a member in public practice, this center provides resources for the entire financial reporting process providing you the information you need to know when you need it.

Spotlight

2013 Audit and Accounting Guide Employee Benefit Plans Now Available
Updated as of January 1, 2013, the ASB, FinREC, EBP Expert Panel, and the EBP Guide Overhaul Task Force have released a new comprehensive revision of Audit and Accounting Guide Employee Benefit Plans. Available today in a convenient and discounted eBook format, this comprehensive revision addresses specific issues in order to improve user understanding and minimize diversity in practice. This guide offers essential information and hands on advice on the many aspects of auditing and accounting for employee benefit plans; including planning, risk assessment, internal control, and plan tax status.

2013 Audit and Accounting Guide Not-for-Profit Entities Now Available
Updated as of March 1, 2013, this is the first comprehensive revision of the guide since 1996. Relevant AICPA literature has been incorporated, and the authoritative auditing content of the guide has been fully conformed to changes resulting from the ASB Clarity Project. The ASB, FinREC, and Not-For-Profit Guide Task Force have revised the guide, making significant enhancements to improve user understanding and minimize diversity in practice.

Accounting Changes: Chronicles of Convergence, Crisis, and Complexity in Financial Reporting
In his new book Accounting Changes, Bob Herz, former FASB chairman, chronicles his remarkable journey through almost 40 years in the accounting profession, from his early days as an articled clerk and auditor at Price Waterhouse in England through his many roles at C&L, PwC, and in the profession to his time as one of the original members of the International Accounting Standards Board, and through his 8 years chairing FASB.

AICPA Standard Setting Activity

Peer Review Matters

Ethics Matters

Accounting & Financial Reporting

CPAs are facing unprecedented changes in financial reporting. Transactions are more complex; economic and regulatory forces demand higher-quality reporting; and FASB convergence efforts propose major changes to U.S. GAAP. Stay up to date through these resources.

Compilation Services

Compilations represent a large portion of many small and medium size firms’ services. Ensure you have the resources needed to execute these engagements.

Review Services

Many CPAs make the mistake of viewing a review engagement as a compilation engagement with only a few procedures added on. However, a review also has elements in common with an audit. Ensure you have the resources needed to execute these engagements.

AICPA TV

AICPA Releases Proposed New Financial Reporting Framework for Smaller, Private Enterprises

AICPA ASB Member and CliftonLarsonAllen Assurance Partner Edwin G. Jolicoeur, CPA, talks about the highly complex area of financial instruments and related auditing considerations. As this area has been under increased scrutiny as a result of the economic crisis, this guide covers in depth discussion and insight around topics such as internal controls, valuation of, and presentation and disclosure of financial instruments.

Audit & Attest Services

Keeping up with accounting and attest standards consistently ranks as a top member need. Let us help with these resources.

Key differences exist between the resources available on the Financial Reporting Center for audits, compilations and reviews. The AICPA has developed a comparative overview of the distinctions for when your clients have questions about the levels of services.

Assurance & Advisory Services

The Assurance Services Executive Committee addresses the needs of CPAs who prepare or attest to information not covered by other authoritative standards.

Industry Insights

Knowing you need information specific to your industry or your clients' industries, Industry Insights provides financial reporting information for topics important to your industry.