Audit & assurance news and resources -- Journal of Accountancy

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}); </script> </div> </div> </div> </div> </div> </div> <div class="row clearfix content content-two-col"> <div id="mainbar-top" class="col-sm-8 mainbar mainbar-top"> <div> <div class="main-content-section parsys"><div class="topicslisting section"><div class="topics-listing" data-event=""> <ol class="breadcrumb"> <li> <a href="#">TOPICS</a> </li> </ol> <div class="row"> <div class="col-md-12 article-list"> <h1>Audit & assurance</h1> <article id="topic-article"> <div class="date-time" data-time="2025-03-01T05:00:00.000-05:00"></div> <h1><a href="/issues/2025/mar/lessons-learned-from-the-first-year-of-sas-145.html">Lessons learned from the first year of SAS 145</a></h1> <p>Implementing SAS 145, the new audit standard, has changed one firm’s documentation and brought about efficiencies.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2025-02-14T13:48:08.000-05:00"></div> <h1><a href="/newsletters/a-a-focus/a-a-focus-recap-fasb-and-asb-chair-recap-preview-activities.html">A&A Focus recap: FASB and ASB chair recap and preview activities</a></h1> <p>The February webcast included one-on-one discussions with the chairs of the accounting and auditing standard setters.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2025-02-14T07:50:18.000-05:00"></div> <h1><a href="/news/2025/feb/aicpa-auditing-standards-board-exposure-drafts.html">AICPA auditing board approves two exposure drafts for public comment</a></h1> <p>The AICPA Auditing Standards Board voted Thursday to separately expose for public comment proposed changes related to attestation review engagements and external confirmations in the AICPA Professional Standards.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2025-02-12T08:31:00.000-05:00"></div> <h1><a href="/news/2025/feb/pcaob-rules-withdrawal.html">PCAOB withdraws proposed rules requiring extensive firm and engagement metrics</a></h1> <p>The AICPA had urged the SEC to refrain from approving the rules, warning they would “pose significant challenges” to small and midsize firms. An AICPA statement said that the “PCAOB’s decision not to move forward with the rules is the right one.”</p> </article> <article id="topic-article"> <div class="date-time" data-time="2025-01-17T15:39:28.000-05:00"></div> <h1><a href="/newsletters/a-a-focus/a-a-focus-recap-quality-management-faqs-and-a-2024-asu-rundown.html">A&A Focus recap: Quality Management FAQs and a 2024 ASU rundown</a></h1> <p>The January webcast also included a deep dive into step 3 of the five-step revenue recognition process outlined in FASB ASC 606.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2025-01-15T16:29:51.000-05:00"></div> <h1><a href="/news/2025/jan/proposed-regulations-address-expanded-annual-compensation-deduction-limitation.html">Prop. regs. address expanded annual compensation deduction limitation </a></h1> <p>The regulations provide guidance on determining who is one of the “five highest compensated employees” under Sec. 162(m)(3)(C).</p> </article> <article id="topic-article"> <div class="date-time" data-time="2025-01-14T16:26:26.000-05:00"></div> <h1><a href="/news/2025/jan/update-digital-assets-practice-aid-addresses-new-fasb-standards.html">Update: Digital assets practice aid addresses new FASB standards</a></h1> <p>The AICPA resource features new guidance and terminology for financial statement preparers and auditors.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-12-23T14:55:23.000-05:00"></div> <h1><a href="/newsletters/a-a-focus/a-a-focus-recap-updates-on-cecl-and-artificial-intelligence.html">A&A Focus recap: Updates on CECL and artificial intelligence</a></h1> <p>The December webcast also included updates on the AICPA Accounting Standards Review Committee’s preparation standards exposure draft and on recent FASB news.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-12-20T14:49:43.000-05:00"></div> <h1><a href="/news/2024/dec/aicpa-asks-sec-to-reject-pcaob-rules-that-pose-significant-challenges.html">AICPA asks SEC to reject PCAOB rules that pose 'significant challenges'</a></h1> <p>A comment letter sent Thursday urges the SEC, which oversees the PCAOB, to “refrain from approving” final rules issued last month that call for certain PCAOB-registered public accounting firms to report on a list of firm and engagement metrics.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-12-11T07:55:51.000-05:00"></div> <h1><a href="/news/2024/dec/pcaob-shares-inspection-priorities-for-2025.html">PCAOB shares inspection priorities for 2025</a></h1> <p>The board, facing an uncertain future following the presidential election, plans to prioritize inspections in the financial, real estate, and information technology sectors in 2025. </p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-12-10T12:12:54.000-05:00"></div> <h1><a href="/news/2024/dec/how-new-qm-standards-may-affect-peer-review.html">How the new QM standards may affect peer review</a></h1> <p>Follow these tips to ensure a smooth peer review process once the new standards take effect.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-12-09T08:14:00.000-05:00"></div> <h1><a href="/news/2024/dec/engagement-quality-reviews-what-auditors-should-know.html">Engagement quality reviews: What auditors should know</a></h1> <p>Firms with A&A practices should be aware that the new quality management standards include changes to engagement quality reviews.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-12-03T08:51:18.000-05:00"></div> <h1><a href="/newsletters/a-a-focus/a-a-focus-recap-improving-the-peer-review-experience.html">A&A Focus recap: Improving the peer review experience</a></h1> <p>Also, an internal controls expert joined for a discussion on COSO and its relationship to SAS 145, and a current Auditing Standards Board member addressed questions the AICPA has been receiving on the QM implementation process.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-11-22T13:12:31.000-05:00"></div> <h1><a href="/news/2024/nov/pcaob-will-require-firms-to-share-a-new-set-of-metrics.html">PCAOB will require firms to share a new set of metrics</a></h1> <p>The board approves eight firm and engagement metrics for disclosure and adds to the disclosures it requires during annual reporting and special reporting periods. It also approves its 2025 budget and puts any action related to NOCLAR on hold until 2025.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-11-15T15:27:15.000-05:00"></div> <h1><a href="/news/2024/nov/pcaob-amendment-registration-inactive-firms.html">PCAOB amendment addresses registration of inactive firms</a></h1> <p>The adopted rule empowers the PCAOB to withdraw the registration of firms that don’t file annual reports and don’t pay annual dues for two consecutive years.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-11-05T12:22:16.000-05:00"></div> <h1><a href="/news/2024/nov/peer-review-standards-updated.html">AICPA board approves update to peer review standards</a></h1> <p>The AICPA Peer Review Board approved changes that align with new quality management standards for firms’ accounting and auditing practices.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-11-01T05:00:00.000-04:00"></div> <h1><a href="/issues/2024/nov/resources-to-implement-the-qm-standard.html">Resources to implement the QM standard</a></h1> <p>The AICPA offers a practice aid and checklist to help firms implement the new quality management standard by the 2025 deadline.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-11-01T05:00:00.000-04:00"></div> <h1><a href="/issues/2024/nov/scaling-sas-145-for-less-complex-entities.html">Scaling SAS 145 for less-complex entities</a></h1> <p>Recognize opportunities to customize audit procedures at less-complex entities while meeting the requirements of the standard.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-11-01T05:00:00.000-04:00"></div> <h1><a href="/issues/2024/nov/the-data-driven-audit-technology-and-the-future-of-auditing.html">The data-driven audit: Technology and the future of auditing</a></h1> <p>Cathy Rowe, Senior Vice President and Segment Leader, U.S. Professional Market, Wolters Kluwer Tax & Accounting North America, discusses how data-driven insights combined with analysis and guidance can make audits more thorough and help firms make better decisions.</p> </article> <article id="topic-article"> <div class="date-time" data-time="2024-10-31T15:11:54.000-04:00"></div> <h1><a href="/podcast/cpa-news-how-auditors-can-demystify-transformative-technology.html">How auditors can demystify transformative technology</a></h1> <p>One tip from Institute of Internal Auditors CEO Anthony Pugliese on harnessing the power of emerging technology: You don’t have to know everything to start working with it.</p> </article> </div> </div> <div class="text-center"> <ul class="pagination"> <li> <a href="/topics/auditing.2.html" id="next" class="btn btn-text"> <span>Next</span> <span class="icon-chevron-right"></span> </a> </li> </ul> </div> </div> </div> </div> </div> </div> <div id="sidebar-top" class="col-sm-4 pull-sm-right sidebar sidebar-top"> <div class="row clearfix"> <div class="sidebar-top iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="sidebar-top iparsys parsys"><div class="doubleclickAds section"><div class="advertisement"> <div id="jofa-adslot-2"> <script type="text/javascript"> googletag.cmd.push(function () { googletag.display('jofa-adslot-2'); 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