Watch for These Errors on Intangible Assets

Auditors face numerous challenges when it comes to helping clients understand financial reporting issues related to accounting for intangible assets acquired in a business combination.

PCAOB Tries Again to Change Audit Report Format

The Public Company Accounting Oversight Board is taking another stab at overhauling the auditor’s reporting model.

SEC Approves PCAOB Rules on Disclosing Engagement Partner Name

The Securities and Exchange Commission has approved rules from the Public Company Accounting Oversight Board to improve audit transparency by disclosing the names of audit engagement partners, along with information about other firms that participate in the audits.

In the Blogs: Say What?

Highlights of some of our favorite tax-related blogs from the past week.

Whistleblower Protections and Incentives for Auditors and Accountants

Two years ago, the Supreme Court held in Lawson v. FMR that employees of contractors of public companies, including employees of accounting and audit firms, are protected under the whistleblower protection provision of the Sarbanes-Oxley Act.

EisnerAmper, Haynie & Co. Lead in Q1 SEC Clients

The pace of new engagements was sluggish at the start of the year

Increased Audit Competition Leads to Opinion Shopping

Mandatory rotation of auditing firms could lead to more “opinion shopping” by companies looking for clean opinions on their internal controls, a new study suggests.

Vatican Suspends Auditing Contract with PwC

The Vatican’s Holy See has suspended its contract with PricewaterhouseCoopers but stressed that the suspension is not due to problems with PwC’s work.

GAO Signs Deal with USAID to Improve Audits in Developing World

To improve accountability around the world, representatives of the U.S. Government Accountability Office’s Center for Audit Excellence and the U.S. Agency for International Development signed a memorandum of understanding on Monday to set up a framework for collaboration on training and technical assistance efforts.

Auditing in China

Drew Bernstein of Marcum Bernstein & Pinchuk discusses the challenges and benefits of auditing companies in China in this video.