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    ASB Comment Letter to the IAASB on Invitation to Comment Improving the Auditors Report

    Comment Letter This comment letter from the ASB to the IAASB discusses the Invitation to Comment: Improving the Auditor’s Report
    Published on March 01, 2013

    AICPA Comments on IAASBs Proposals to Improve Auditor Reporting

    Newsletter ...supported a broad-based approach to improving the transparency and relevance of financial reporting that involves financial reporting standard setters, management, and those charged with governance, as well as auditors
    Published on October 17, 2012

    Section 404(b) of Sarbanes-Oxley Act of 2002

    Article ...that the management of public companies assess the effectiveness of the internal control of issuers for financial reporting. Section 404(b) requires a publicly-held company’s auditor to attest to, and report on, management’s assessment of its internal controls. AICPA believes that all investors in public companies
    Published on April 03, 2013

    John P. Crowley v. Doris June Chait

    Legal Brief ...of the Institute's historical role particularly in formulating standards relating to audits, reviews, and compilations, and the reports issued thereon, the AICPA has maintained a strong interest in the scope and bases of civil liability sought to be imposed upon auditors pursuant to those standards. The Institute has no
    Published on April 09, 2010

    Grant Thornton LLP v. Prospect High Income Fund

    Legal Brief Because of their (1) extensive understanding of the accounting profession and, in particular, the role of an independent auditor, and (2) commitment to the public interest, the Texas Society of CPAs and the American Institute of CPAs are deeply concerned about the court of appeals' decision in this...
    Published on April 14, 2010

    AICPA Comments on Proposed Revisions to Single Audit Data Collection Form

    Newsletter The CPA Advocate: July, 2013. The AICPA supports OMB updating both the Data Collection Form and its instructions; however, the AICPA’s letter also provides a number of overarching and specific comments.
    Published on July 18, 2013

    Audit, Attest, and Quality Control ASB Comment Letters

    Comment Letter ASB comment letter to other organizations.
    Published on January 29, 2014

    Cast Art Industries, LLC Scott Sherman Gary Barsellotti and Frank Colapinto vs. KPMG LLP John Quinn John Shaw Ed Lazor F...

    Legal Brief ...was brought in the Superior Court of New Jersey, Middlesex County. Plaintiffs, which included Cast Art Industries, LLC (“Cast Art”) and its shareholders, brought suit against KPMG, as an auditor, for failing to detect fraudulent misstatements
    Published on October 04, 2010

    Jury Verdict Against KPMG for Negligent Misrepresentations in Audit Report

    Article Failure to detect misstatements in financial statements result in a $38.8M jury verdict in the Cast Art Industries, LLC vs. KPMG LLP case.
    Published on May 03, 2013

    AICPA Supports New Private Company Council Developing Framework for SMEs

    Newsletter The CPA Advocate: June, 2012.  AICPA supports FAF's planned creation of Private Company Council and is developing an OCBOA financial reporting framework for privately held small- and medium-sized enterprises.
    Published on February 06, 2013

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