All Auditing Standards articles – Page 3
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Blog
SEC approves PCAOB budget; Doty promises new proposals soon
Image: With majority support from the SEC—all two of them, that is—the PCAOB has finalized its 2016 budget with a 12-percent increase in fees charged to public companies to support it. Only SEC Chair Mary Jo White and Commissioner Kara Stein supported the PCAOB’s $257.7 million budget for the current ...
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Blog
PCAOB Considers Standard on Using Specialists’ Work
Image: The Public Company Accounting Oversight Board has issued a staff consultation paper looking for input on whether and how to revise standards around the auditor’s use of the work of specialists. PCAOB Chairman James Doty said, “We want our standards to keep pace with the realities in the marketplace, ...
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Blog
PCAOB Reorganizes Auditing Standards by Topic
The PCAOB is reorganizing its audit standards, integrating standards the board wrote with historical standards it adopted on an interim basis under Sarbanes-Oxley. “The standards will be organized by topics that generally follow the flow of the audit process, making their use easier and more efficient for auditors,” said PCAOB ...
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Blog
Deloitte Advances Ucuzoglu to Lead Audit Practice
Image: After Deloitte advanced its head of audit to CEO in February, the firm has appointed Joseph Ucuzoglu chairman and CEO of subsidiary Deloitte & Touche. Ucuzoglu says he has a handful of near-term priorities that focus on innovating the audit practice to elevate audit quality. “We want to really ...
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Blog
SEC Approves PCAOB Budget, Wants Improvements
Image: The SEC has approved a 2015 budget of $250.9 million for the PCAOB, 3 percent less than its 2014 budget but 8 percent more than the board actually spent in 2014. PCAOB Chairman James Doty said that the decrease “reflects an appropriate reassessment of assumptions relating to personnel and ...
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Blog
PCAOB Finds No Big Improvement in 2014 Inspections
Image: The Public Company Accounting Oversight Board will soon offer a peek at 2014 inspection findings, but you won’t see much improvement, said Chairman James Doty. The board has delivered consistently tough marks to the major audit firms in recent years, calling for better audit work on such items as ...
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Blog
Ideas for Guidance on Auditing Estimates Draw Mixed Reviews
The Public Company Accounting Oversight Board is getting mixed feedback on its initial ideas for revising guidance on auditing fair-value measurements and accounting estimates. The PCAOB has received nearly 40 letters on the staff's consultation paper on the topic, some suggesting a revision of existing rules, while others suggest a ...
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Blog
SEC Plans Early 2015 Concept Release on Audit Committee Upgrades
Image: Title: WhiteThe SEC expects to issue a concept release in early 2015 exploring possible avenues for elevating the work of public company audit committees, according to SEC Chair Mary Jo White. In recent remarks, White said the staff will address issues around the relationship between the audit committee and ...
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