Audit Standards
PCAOB Looks to Modernize Rules for Confirmations
Proposal would replace an interim standard that has not changed substantially since 2003.
PCAOB Proposes to Refresh Quality Control Rules for Audit Firms
The PCAOB plans to take a five-pronged approach to updating its quality control rules.
PCAOB Adds 3 New Projects to Standard-Setting and Research Agendas
Modernizing auditing standards is one of four goals identified in the board’s draft five-year strategic plan.
PCAOB OKs Changes in the Oversight of Audits Involving Outside Auditors
The Public Company Accounting Oversight Board (PCAOB) voted unanimously to amend current auditing rules and introduced a new standard on June 21 pertaining to an audit firm’s use of so-called “other auditors” who lend a hand during the course of an audit.
AICPA News – March 2021
AICPA News is a round-up of recent announcements from the American Institute of CPAs.
AICPA Proposes New Auditing Standard for Communication Between Past and New Financial Statement Auditors
The standard requires immediate past auditors and presumed successor auditors, once management consents to the past auditor responding, to communicate about potential NOCLAR situations. Examples of NOCLAR situations include, but are not limited to...
IFRS 17 is Coming: Wolters Kluwer Tax & Accounting Offers Webinars and eBook
On January 1, 2021 - IFRS 17 - one of the biggest changes to insurance accounting in more than 20 years, goes into effect. According to the International Accounting Standards Board, $13 trillion total assets of 450 listed insurers using International ...
IFRS Taxonomy Guide for Companies Now Available
The IFRS Taxonomy facilitates the digital creation and consumption of financial information. It improves investors’ access to financial information by listing and defining specific codes, or elements, that can be used to tag items of data.