2023 Enhancing Audit Quality Report
Through the Enhancing Audit Quality initiative, the AICPA promotes high quality auditing and assurance, with a focus on subject matter that has created challenges for practitioners. According to the 2023 Enhancing Audit Quality (EAQ) Report, the AICPA's areas of focus...
Proposed Ethics Interpretation on Recruiting
The AICPA’s Professional Ethics Executive Committee (PEEC) has issued another proposed interpretation, this one addressing recruiting as a nonattest service. The proposal provides updated guidance on the threats to independence as part of the AICPA’s IESBA convergence project. Comments are due September 10th.
Ethics Proposal: Tax Services
The AICPA’s Professional Ethics Executive Committee (PEEC) is proposing changes to the tax services rules with respect to independence. As part of their IESBA convergence, the rules address the potential advocacy threats created by providing tax advisory services to attest clients. Comments are due by September 10, 2024.
Proposal: CECL & Programmatic Investments
The AICPA has released a proposal of Chapter 8 of the Not-for-Profit A&A Guide on Programmatic Investments. The chapter provides context as to the impact of CECL on programmatic investments including examples. Comments are due July 12, 2024.Check out our CPE...
2024 AICPA Spring Council
This week the AICPA Council met in Orlando, Florida. This blog will give an overview of the topics discussed along with key highlights from the meeting including the inauguration of the 111th Chair of the AICPA, Carla McCall!Check out our CPE webcasts for more great...
PCAOB – Auditor Use of Data and Reports
This week’s blog provides an overview of a recently issued PCAOB Spotlight that can help firms with evaluating audit evidence. While the report is issued by the PCAOB, many of the insights also apply to private companies.
PCAOB Spotlight – Root Cause Analysis
The PCAOB has issued a Spotlight - Root Cause Analysis – An EffectivePractice To Drive Audit Quality which provides details on how root cause analysis has been effectively used by firms to improve quality. The spotlight provides ideas for firms looking to implement...
IESBA Tax Planning Revision
In April, IESBA issued new guidance to provide ethical considerations for tax planning performed by those in public practice as well as those in industry. The guidance is in response to the growing concern around tax avoidance schemes and to provide a more principles based approach to the ethical considerations.
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