PCAOB Audit Standards to get a Codification-Type Treatment

Posted by Alex Roweon March 26, 2013

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 August 16, 2012

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 February 28, 2012

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 October 17, 2011

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 September 16, 2011

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