Audit Standards
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PCAOB Looks to Clarify Auditing Rules on Substantive Analytical Procedures
The proposal issued by the board June 12 would replace an interim standard that hasn't changed significantly since 1989.
PCAOB OKs Tougher Rules on Auditor Negligence
Individuals face possible sanctions when they negligently, directly, and substantially cause their firm to break PCAOB rules.
PCAOB Fines Florida-Based Firm L&L CPAs $75,000 for Auditing Blunders
The firm and three people were sanctioned for violations related to quality control, auditing failures, and missing Form AP deadlines.
CAQ Asks PCAOB to Extend Comment Period on a Pair of Proposed Standards
The Center for Audit Quality asked for an extra 60 days to review and provide feedback on two proposals with a June 7 comment due date.
PCAOB Slaps Audit Firm MaloneBailey With $400,000 Fine
The top 200 accounting firm was sanctioned on May 21 for what the PCAOB calls “pervasive quality control violations.”
AICPA Auditing Standards Board Approves Revisions to Attestation Standards
The changes are intended to align them with the AICPA standards pertaining to quality management, and related financial statement audit and non-audit standards.
PCAOB Replaces Old Quality Control Rules With a New Standard
The new quality control standard will require audit firms to annually evaluate their QC systems and report the results to the PCAOB.
New PCAOB Rules Would Push Auditors to Assemble Final Documentation More Quickly
As part of a new standard adopted May 13, the time period to assemble a final set of audit documentation would be cut from 45 to 14 days.