ASB Extends Comment Period For Quality Management ED

The AICPA Auditing Standards Board (ASB) has extended the comment deadline on its quality management exposure draft to Aug. 31 from June 11. In February, the ASB issued the ED of three interrelated proposed standards that are designed to bring important changes to the way …

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PCAOB’s 2021 Inspections Target Pandemic Concerns, Predictability

Written By: Ken Tysiac PCAOB inspections in 2021 will focus on the effects of the coronavirus pandemic on companies’ financial reporting while also becoming less predictable, according to resources the board published Tuesday. As reported previously in the JofA, the board is focused both on pandemic-related audit challenges …

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GAO: Guidance For Single Audits Should Be More Timely, Responsive

Written By: Ken Tysiac The timing and content of key yearly federal guidance provided to single audit practitioners needs to be more responsive to auditors’ input and needs, according to a U.S. Government Accountability Office (GAO) report to Congress. In a Report to Congressional Committees, the …

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Cybersecurity Requirements Provide New Opportunity For CPAs

Written By: Troy Fine, CPA/CITP, and Ken Tysiac CPAs have a new opportunity to act as third-party assessors of the cybersecurity maturity of U.S. defense contractors as they work to comply with new regulations that have been created to combat cyberthreats. CPAs currently providing System …

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