AICPA Releases Guidance on Financial Statement Reviews

The American Institute of CPAs’ Accounting and Review Services Committee has issued an interpretation on reviews of financial statements.
AICPA Releases Guidance on Financial Statement Reviews


Audit Committees Should Watch for Third-Party Risks

Audit committees need to have oversight of risks to their organizations from third parties such as suppliers, distributors, sales people and service providers, according to a new report.
Audit Committees Should Watch for Third-Party Risks


Brixmor Plunges as Executives Resign after Audit Findings

Brixmor Property Group Inc. shares plunged after Chief Executive Officer Michael Carroll and two other executives resigned following a discovery by the company’s audit committee that employees were “smoothing” income to make quarterly results more consistent.
Brixmor Plunges as Executives Resign after Audit Findings


IIA Proposes Changes in Standards for Internal Auditors

The Institute of Internal Auditors has proposed changes to its International Standards for the Professional Practice of Internal Auditing to help internal auditors meet the challenges of today’s business environment.
IIA Proposes Changes in Standards for Internal Auditors


Internal Audit Function Looks Externally for Help

Thirty-eight percent of organizations are turning to outside services to supplement the efforts of their internal audit function, according to a new survey of chief audit executives.
Internal Audit Function Looks Externally for Help


AICPA Pushes for Auditing and Assurance Changes

The American Institute of CPAs is encouraging firms to modernize the way they conduct audits by using data analytics technology and working to improve the way employee benefit plan audits are conducted in response to a critical Labor Department report.
AICPA Pushes for Auditing and Assurance Changes


Boards Relying on Internal Audit to Protect Against Risk

Companies are taking steps to prepare for a reputational crisis by employing an internal audit function, but less than half the board members polled in a new survey feel they are “well-versed” in the issues.
Boards Relying on Internal Audit to Protect Against Risk


CAQ Reports on Pilot Tests of Audit Quality Indicators

The Center for Audit Quality issued a new report Tuesday describing some of the feedback it has received on the audit quality indicators it has been pilot testing with auditors and audit committees.
CAQ Reports on Pilot Tests of Audit Quality Indicators


Going Concern Opinions Trending Down, for a Reason

The number of going concern opinions declined in 2014, but mainly because many of the companies identified as being in trouble by their auditors in previous years actually did go out of business.
Going Concern Opinions Trending Down, for a Reason


Going Concern Opinions Trending Down, for a Reason

The number of going concern opinions declined in 2014, but mainly because many of the companies identified as being in trouble by their auditors in previous years actually did go out of business.
Going Concern Opinions Trending Down, for a Reason