Top Reasons Form AP is a Step in the Right Direction

Posted by Alexa Foxon Thu, May 12, 2016 @ 01:11 PM

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. 

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Tags: PCAOB News & Information, external audit, Public Company Accounting Oversight Board, SEC approval, Reputation, auditor, Form AP, Vibato, PCAOB, SEC

PCAOB: Disclosure of Engagement Partner & Audit Participants soon??

Posted by Teresa Comcaston Wed, Dec 04, 2013 @ 04:09 PM

We learned of this proposal today and we thought our readers would be interested. This change would have an inpact on the financial reporting requirements for all public companies. 

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Tags: Sarbanes-Oxley Articles & Information, audit, 10k, audit scope, PCAOB, SEC

Congress Passes PCAOB Prohibition on Mandatory Audit Rotation

Posted by Teresa Bockwoldton Fri, Jul 12, 2013 @ 01:49 PM

 

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Tags: PCAOB News & Information, audit, congress, PCAOB

PCAOB Open Meeting Re: 'Significant Unusual Transactions' Auditing Standards

Posted by Alex Roweon Thu, May 02, 2013 @ 02:50 PM

The Public Company Accounting Oversight Board has scheduled an open meeting for 9:30 am on Tuesday, May 7, to consider reproposal of auditing standard, related parties, and related amendments, including amendments regarding significant unusual transactions. 

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Tags: Public Company Accounting Oversight Board, Significant Unusual Transactions, PCAOB

PCAOB Proposal: Mandatory Auditor Rotation

Posted by Alex Roweon Wed, Apr 24, 2013 @ 11:29 AM

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.

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Tags: Competition Commission, external audit, mandatory audit rotation, PCAOB, Lloyd

PCAOB Audit Standards to get a Codification-Type Treatment

Posted by Alex Roweon Tue, Mar 26, 2013 @ 03:05 PM

Today The Public Accounting Oversight Board released a proposal to re-organize their official auditing standards. The document is open to public comment, and a meeting was held early this morning to begin the process. 

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Tags: Internal Controls, auditing standards, Martin Baumann, Vibato, PCAOB

New Audit Compliance Standard (No. 16) Released by PCAOB

Posted by Bill Bockwoldton Thu, Aug 16, 2012 @ 05:07 PM

The PCAOB has released Audit Standard No. 16 - Communications with Audit Committees. This new standard is designed to establishe requirements that enhance the relevance, timeliness, and quality of the communications between the auditor and the audit committee. This new standard supersedes Interim Standards AU sec. 380 (Communication with Audit Committees) and AU sec. 310 (Appointment of the Independent Auditor), the transitional amendments to AU sec. 380, and related amendments to PCAOB standards.

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Tags: Internal Controls, PCAOB News & Information, audit, audit committee, PCAOB

Internal Control Alert on Related Parties & Unusual Transactions

Posted by Teresa Bockwoldton Tue, Feb 28, 2012 @ 10:54 AM

There was a new PCAOB alert today that everyone should know about. Here are the details:

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Tags: Internal Controls, best-practice, PCAOB, internal control tips, Close Best Practices

Why Does my Audit Take so Long and Cost SO MUCH??!

Posted by Teresa Bockwoldton Mon, Oct 17, 2011 @ 04:03 PM

Let's just get down to the skinny of it, audits in any form are painful. We get that.

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Tags: PCAOB News & Information, 404 audit, audit scope, external auditing, PCAOB

Internal Control Is Common Thread Across News Stories

Posted by Nancy Johnsonon Fri, Sep 16, 2011 @ 12:26 PM

Internal controls are often considered a necessary evil by finance executives and board members. And it's true that with so many strategic issues to address, it can be challenging to carve out the time and attention to ensure that internal controls are in place, designed appropriately, and operating effectively.

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Tags: Internal Controls, Compliance in China, PCAOB