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
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
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
SAS No. 115 Audit Risk Alert Guidance
The AICPA Accounting and Auditing Publications team, following approval by the Audit and Attest Standards Staff, has released some implementation guidance that should be very helpful to practitioners in their efforts to appropriately-implement the new SAS No. 115, control deficiency evaluation and communication requirements.
Published on February 18, 2009
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
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
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
2011-2012 Compilation & Review Alert Addressing Some Current Practice Issues
The AICPA has released its annual alert addressing some current-period issues that need to be addressed when practitioners are performing compilation and review engagements.
Published on January 18, 2012
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
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