Got Culture? How the Audit Committee Can Help
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Browsing: Audit
SEC Approves New Auditor’s Report
The Securities and Exchange Commission this week approved the Public Company Accounting Oversight Board’s AS 3101 auditing standard aimed at providing more relevant information to investors.
ABA Warns on Employee Benefit Plan Audit Proposal
In a comment letter to the American Institute of CPAs on its proposal to modify audits of Employee Retirement Income Security Act-based employee benefit plans, ABA warned of unintended consequences regarding the requirement for auditors to post findings on specific benefit plan provisions.
AICPA Extends Comment Period for Proposed Changes to Employee Benefit Plan Audits
The American Institute of CPAs has extended the deadline for comments on proposed changes to auditing standards relating to employee benefit plans.
ABA Cautions PCAOB, IAASB on New Auditing Standards Proposals
With changes to bank accounting on the horizon, including the Financial Accounting Standards Board’s Current Expected Credit Loss accounting standard and upcoming requirements to disclose bank loans at their so-called “exit price,” ABA noted that many auditing firms will need to employ experts and pricing specialists and that banks will need to greatly expand the documentation supporting their estimates.
PCAOB Approves New Auditor Reporting Standard
The Public Company Accounting Oversight Board today approved a new auditor reporting standard aimed at providing more relevant information to investors.
Community Banks Expected to Save as FASB PBE Interpretation Revised
Many community banks are likely to save on yearly consulting and audit costs as a result of revisions made to the Financial Accounting Standards Board’s understanding of what defines a public business entity.
ABA Critiques FASB’s Fair Value Measurement Disclosure Proposal
ABA last week offered a mixed review of the Financial Accounting Standards Board’s proposed changes to the fair value disclosure requirements for private entities.
Regulators Support Basel Guidance on External Audits for Largest Banks
The FDIC, OCC and Federal Reserve today issued a joint advisory supporting the Basel Committee’s March 2014 external audit guidance for large, internationally active banks and offering recommendations for addressing the differences between U.S. standards and practices and those specified by the Basel guidance.