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AICPA Issues Enhancing Audit Quality Report

Highlighting this year’s significant achievements to improve audit quality, the American Institute of Certified Public Accountants (“AICPA”) recently issued Enhancing Audit Quality: 2017 Highlights and Progress (“Report”). The Report lists major accomplishments in areas such as peer review, single audits, and quality control. Separately, the Report addresses evolving talent needs and includes sections concerning the Uniform CPA Examination and Valuation credentials. Download Enhancing Audit Quality: 2017 Highlights and Progress at AICPA.org.

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PCAOB’s Franzel Discusses Audit Quality Improvements

At Baruch College’s 15th Annual Financial Reporting Conference earlier this month, Public Company Accounting Oversight Board (“PCAOB”) member Jeanette Franzel spoke on the Board’s evolution in audit oversight and work to safeguard investors and public interest. Specifically, Franzel’s speech focused on the improvements made to audit quality, and how PCAOB inspections and audit firms have contributed to those improvements. She also remarked that audit firms should continue strengthening their quality control systems and monitoring efforts, and advised the PCAOB to consider opportunities to advance its inspection program. A transcript of Franzel’s speech is available on the PCAOB website.

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