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PCAOB Updates Project Agendas

The Public Company Accounting Oversight Board’s (“PCAOB”) Office of the Chief Auditor recently published an update to its standard-setting and research project agenda. The revised agenda includes the Office’s present standard-setting agenda, planned milestones, and important recent developments. The PCAOB’s standard-setting agenda includes the following projects: Auditor’s Reporting Model: Adopted in June and approved by the Securities and Exchange Commission on October 23rd. Auditing Accounting Estimates, Including Fair Value Measurements: Reviewing comments on exposure draft of the proposed standard. The Auditor’s Use of the Work of Specialists: Reviewing comments on exposure draft of the proposed standard. Supervision of Audits Involving. Read More.

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PCAOB Standard-Setting and Research Agendas Updated

The Public Company Accounting Oversight Board’s (“PCAOB”) Office of the Chief Auditor (“OCA”) has updated its standard-setting agenda. Revised as of June 30, the periodic update reflects the PCAOB’s standard-setting and research agendas, and includes the OCA’s standard-setting agenda, scheduled milestones, and recent developments including the following: Auditor’s Reporting Model (adopted in June by PCAOB and awaiting the Securities and Exchange Commission’s approval) Auditing Accounting Estimates, Including Fair Value Measurements (exposure draft comment period ends Wednesday, August 30) The Auditor’s Use of the Work of Specialists (exposure draft comment period ends Wednesday, August 30) Supervision of Audits Involving Other Auditors. Read More.

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PCAOB to Ask for Additional Comments on Lead Auditors Proposal

Before approving a rule to improve the lead auditor’s oversight of other accounting firms’ audit work, the Public Company Accounting Oversight Board (“PCAOB”) plans to ask for another round of comments. According to its recently updated standard-setting agenda released on July 6, the PCAOB needs to consider the issuance of a “supplemental request for comment” later this year. The board issued Release No. 2016-002, Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard—Dividing Responsibility for the Audit With Another Accounting Firm, to help lead auditors with the supervision of the work other firms perform. Read More.

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PCAOB Updates Standard-Setting and Research Agenda

The Public Company Accounting Oversight Board’s (“PCAOB”) latest standard-setting update and research agenda have been published by its Office of the Chief Auditor (“OCA”). Updated as of March 31, the agenda reflects the PCAOB and its staff’s current plans, as well as the OCA’s standard-setting agenda and scheduled milestones. Some of the planned milestones and projects include: Finalizing the auditor’s reporting model standard for a second-quarter release; Determining the next steps in the project on audit oversight involving other auditors; and The auditor’s role in handling other information and company performance methods, such as non-GAAP measures. Visit to PCAOB website. Read More.

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PCAOB Publishes Updated Standard-Setting Agenda

The Public Company Accounting Oversight Board (“PCAOB”) has released an updated version of its standard-setting agenda. Current as of June 30, 2016, the agenda outlines the PCAOB’s Office of the Chief Auditor’s standard-setting agenda, scheduled milestones, and major recent developments. The PCAOB’s plans under its updated agenda includes writing a proposal on The Auditor’s Use of the Work of Specialists, as well as conducting research and outreach on the project Quality Control Standards, Including Assignment and Documentation of Firm Supervisory Responsibilities. Click here to download a copy of the PCAOB’s updated standard-setting agenda.

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