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.
IAASB Strategy & Work Plan 2024-2027
The IAASB has issued their 2024-2027 Strategy & Work Plan titled Elevating Trust in Audit & Assurance. The document lays out the strategic priorities of the IAASB over the next three years with an update on projects and goals.
IESBA’s Strategy & Work Plan (2024 – 2027)
The International Ethics Standards Board for Accountants (IESBA) has issued its 2024-2027 Strategy &Work Plan titled TOWARDS A MORE SUSTAINABLE FUTURE: ADVANCING THE CENTRALITY OF ETHICS. This lays out the vision and goals of the organization for the next three years with a focus on sustainability and firm culture.
Improper Payments: FY23
GAO issued their Improper Payments: Information on Agencies’ Fiscal Year 2023 Estimates report (GAO-24-106927) on March 26, 2024 which provides details on the $236 billion in improper payments in FY 2023 which was concentrated in 5 programs. We’ll review the key findings from this report.
GASB Going Concern Uncertainties & Severe Financial Stress Survey
The GASB is soliciting user feedback for their project on Going Concern Uncertainties and Severe Financial Stress—Potential Disclosures. The survey should take about 15 minutes to complete and will provide the Board with helpful information in developing disclosures for this project. We encourage you to consider providing feedback!
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