Auditing
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ASB’s Proposed New Standard Encourages Auditors to Exercise Professional Skepticism
The proposed SAS is one piece of a larger AICPA project to enhance audit quality (see the AICPA’s Enhancing Audit Quality Initiative), which launched in 2014 and aligns all AICPA audit-and-assurance-related activities to the goal of supporting firms’ ...
6 Process Improvement Considerations for CPA Firms
The accounting profession tends to overcomplicate processes and insert extra steps to ensure quality. Even if you’ve been through a process improvement initiative, unless you continually monitor the process and look for ways to improve it, these extra ...
Former AICPA Chair Kimberly Ellison-Taylor Joins BLI’s Team of Thought Leaders
It’s a homecoming of sorts for Ellison-Taylor, who served as chair of the Maryland Association of CPAs’ Board of Directors during the 2010-11 fiscal year. She was born and raised in Baltimore and, despite her global reach ...
Five Common Scenarios That Can Lead to a Material Weakness
While organizational agility is often critical to a company’s success, change management can be challenging for companies to navigate, especially when implementing new technologies. Material weaknesses commonly arise when change management controls ...
How to Use Data Discovery to Forecast Your Firm’s Future
If it seems like your busy season was a bit more hectic than usual this year, you’re likely right. According to the U.S. Bureau of Labor Statistics, demand for accountants will increase 10% by 2026, faster than the average for all occupations. Add in greater competitiveness, a talent shortage, regulatory changes and more demanding clients, […]
AICPA Discussion Paper Tackles Materiality in an Attestation Engagement
The AICPA is seeking feedback on the issues discussed in this paper and would like to hear from those with practical experience in such attestation engagements, including preparers of subject matter presentations, practitioners performing ...
The Bonadio Group Launches IRM Brand: FoxPointe Solutions
FoxPointe Solutions serves as an extension of The Bonadio Group’s already expansive efforts to help businesses evaluate and address threats and gaps in their existing processes and systems. The firm will continue to offer IRM solutions to current ...
AICPA Releases Accounting and Valuation Guide for Private Equity and Venture Capital Industry
The guide provides nonauthoritative guidance and examples for preparers of financial statements, independent auditors, and valuation specialists regarding the accounting for and valuation of portfolio company investments held by investment companies ...