Auditing & Accounting

The PCAOB has issued a Spotlight - Root Cause Analysis – An Effective Practice To Drive Audit Quality which provides details on how root cause analysis has [...]

In April, IESBA issued new guidance to provide ethical considerations for tax planning performed by those in public practice as well as those in industry. The guidance [...]

The IAASB has issued their 2024-2027 Strategy & Work Plan titled Elevating Trust in Audit & Assurance. The document lays out the strategic priorities of the IAASB [...]

The International Ethics Standards Board for Accountants (IESBA) has issued their 2024-2027 Strategy and Work Plan titled TOWARDS A MORE SUSTAINABLE FUTURE: ADVANCING THE CENTRALITY OF ETHICS. [...]

GAO issued their Improper Payments: Information on Agencies' Fiscal Year 2023 Estimates report (GAO-24-106927) on March 26, 2024 which provides details on the $236 billion in improper [...]

The GASB is soliciting user feedback for their project on Going Concern Uncertainties and Severe Financial Stress—Potential Disclosures. The survey should take about 15 minutes to complete [...]

This week's blog will look at the hot topics discussed at the 2024 AICPA Regional Council Meetings held last week in NY, Dallas, LA & Chicago. While [...]

The ACFE has issued their 2024 Report to the Nation. It provides an overview of fraud schemes as well as an update on the avatar of a [...]

The Financial Accounting Foundation has opened an opportunity for stakeholders to provide feedback on the effectiveness of the Private Company Council (PCC). The review request [...]

IESBA has issued a Proposed International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Other Revisions to the Code Relating to Sustainability [...]

In December, the International Auditing and Assurance Standards Board issued the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA [...]

The AICPA & NASBA issued updated CPE Standards in January 2024. They made changes to definitions and clarified group internet based rules. They also addressed [...]

In December, FASB issued a proposed chapter of the Conceptual Framework on measurement. The proposal identifies 2 systems of measurement: entry prices and exit prices. [...]

In December, FASB issued a proposed ASU that helps organizations determine whether a transaction is an induced conversion or an extinguishment. The topic comes from [...]

In November 2023, the DOL issued their Audit Quality study that found that 30% of ERISA audits from 2020 (prior to the adoption of SAS [...]

In January 2024, GASB issued Statement 102, Certain Risk Disclosures which provides additional risk information to users beyond those currently required. The standard focuses on [...]

The AICPA issued their 2023 Trends report which provides data on trends related to supply and demand for accounting students as well as trends related [...]

2023 is in the record books. This blog will review the standards that were issued by the FASB, AICPA and GASB throughout the year. This [...]

In response to the requests of investors for more disaggregation, the FASB has issued ASU 2023-09, Improvements to Income Tax Disclosures. The ASU will require [...]

The AICPA's Assurance Services Executive Committee (ASEC) recently issued an exposure draft to provide a framework for stablecoin issuers to present information about stablecoins and [...]

On December 13th, the FASB issued ASU 2023-08 to improve the accounting for and disclosure of certain crypto assets. This new standard responds to feedback [...]

Building on last week's blog, this week's looks at another COVID-19 report issued by GAO which looks at the common fraud schemes found. The report, [...]

In November 2023, FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which requires public companies to provide additional disclosures about their segments which were [...]

GAO has issued two COVID fraud related reports. This week's blog looks at the first one which focuses on some of the insights and lessons [...]

The AICPA is proposing changes to the peer review standards. This update includes proposed changes for quality management with effective dates that would tie to [...]

While we often think of accounting and auditing when we think standards, tax professionals are also subject to standards which are changing effective January 1, [...]

This blog will cover the second phase of the International Non-Profit Accounting Guidance by looking at Exposure Draft 2 and its proposed guidance for nonprofits. [...]