This 5 part series focuses on the recent FIFA scandals, the people in charge, and the many changes in auditors.Read More
SEC Approves PCAOB, Form AP, on Disclosing Engagement Partner Name
PCAOB rules for disclosing the name of the engagement partner and information about other firms participating in audits have been approved by the SEC. Starting January 31, 2017, auditors will be required to fill out Form AP with the PCAOB disclosing all engagement partners working on public audits and information about other audit firms participating in the audit. This information will be searchable by engagement partner name, audit firm, or public company on a public database.Read More
With a renewed emphasis in testing with precision on internal controls over financial reporting, it may help to jump the gun and review some of your most complex controls that would fall within scope of an external auditors review. The following definition of ‘testing with precision’ is defined in the following statement via Crowe Horwath LLP:
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An effort made by the Public Company Accounting Oversight Board (PCAOB) to require companies to rotate their auditors is receiving an overall negative response from the community it would affect.