Auditing

The Public Company Accounting Oversight Board (PCAOB) has released a report that provides information about registered audit firms' implementation and compliance with Auditing Standard No. 7, Engagement Quality Review.

Free CPE Webcast: Tuesday, Dec. 17, 2013 - 2pm ET - Earn 1 hour of CPE credit.

The American Institute of CPAs (AICPA) has sent a letter to the chairman and ranking member of the Senate Finance Committee opposing any limitation on the use of the cash method of accounting on natural persons, pass-through entities, personal service corporations and farmers. A proposal under consideration in the Senate would require these companies to change to the accrual method, force their owners to pay tax before they have the cash to pay it, and add to the complexity and cost of compliance for these businesses.

With cloud services, it is easier than ever to meet client demands and to set yourself apart from competing firms. While many firms are understandably resistant to change, the cloud’s benefits far outweigh the risks.

Pittsburgh City Controller Michael Lamb said today that the Department of Public Works needs to do a better job of keeping track of its inventory after an audit found equipment was missing.

Like most practitioners, I had trouble successfully billing for post-filing work. The reasons are complicated. It’s often an issue of back-and-forth time with clients or the IRS/state taxing authorities.

The "Big Four" accounting and consulting firm Ernst & Young LLP has received two industry honors in the accounting and auditing space. The firm has been named Best Accounting Firm by the HFMWeek 2013 U.S. Hedge Fund Service Awards for the fifth consecutive year, and ranked as the top global audit and accounting service provider by Hedge Funds Review for the third consecutive year.

Thomson Reuters recently released a new database designed to provide transparent, detailed data to transfer pricing professionals.