ICYMI | Unsolved Problems in Auditing: A Half Century Retrospective and an...
Auditing has been an ever-changing discipline since its birth over 100 years ago, but how much have the challenges auditors face really evolved over the last half century? This article will review...
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ICYMI | Current State of Assurance on Sustainability Reports
In Brief Corporate sustainability reporting is becoming more widespread with each passing year, and with that growth comes the need for companies to back up their sustainability claims. The author...
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ICYMI | Not All PCAOB Inspections Are Created Equal
Much has changed since the PCAOB began its inspection program in 2004. In just the last 10 years, the number of auditing firms registered with the PCAOB has increased by approximately 37%, 14 auditing...
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Maintaining Auditor Independence When Giving Accounting Assistance and Advice
Auditors serving smaller businesses know that those clients often need help navigating the highly technical and overwhelming body of accounting standards. They also know that their audits will likely...
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Improving Audit Quality
The 13th Annual Audit Conference, hosted by Baruch College in New York City on December 4, 2018, once again brought together auditors, regulators, standards setters, and preparers to discuss current...
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ICYMI | CAM Vs. KAM: A Distinction without a Difference?
In Brief Since the last economic downturn, attention has turned to the auditor’s report, which had remained largely unchanged for decades. In response to a perceived desire for more information and...
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The PCAOB as Third-party Payer
The idea of introducing a third-party payer into the auditor-client relationship has received some attention from regulators, academics, and accounting firms in recent years. Years ago, both the PCAOB...
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What’s Happening at the Auditing Standards Board
I have a list of projects that the ASB [Accounting Standards Board] is working on, in two parts. I want to give you a little more background on some of the projects going on. The ASB Agenda First, the...
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Auditing Accounting Estimates
About the Panelists The panel featured Brian Croteau, CPA, partner at PricewaterhouseCoopers; Kyle Owens, CPA, professional practice standards senior manager at Crowe LLP; and Phil Wedemeyer, CPA,...
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The Importance of Audit Partners’ Background
Public company audit partners are trusted as watchdogs of the capital markets. A forthcoming study by the authors of this article finds that audit partners’ gender, education, and social connections...
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ICYMI | Maintaining Auditor Independence When Giving Accounting Assistance...
Auditors serving smaller businesses know that those clients often need help navigating the highly technical and overwhelming body of accounting standards. They also know that their audits will likely...
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Audit Implications of the New Revenue Reporting Standard
About the Panelists The panel featured Meredith Canaday, CPA, partner in the department of professional practice at KPMG; Sheri Fabian, technical partner in the national professional standards group at...
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Audit Resources
The development of auditing software and technology applications has lagged behind that of other practice areas, but a steady evolution of automation and data analytics is providing auditors with...
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The Truth about Workpaper Sign-offs
Since the issuance 14 years ago of the current audit documentation standards [now AU-C 230 and PCAOB Auditing Standard (AS) 1215, respectively], which are more robust than their predecessors (see this...
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Machine Learning in Auditing
In Brief Machine learning provides the potential for significant improvements in audit speed and quality, but also entails certain risks. The authors provide a general overview of machine learning,...
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Internal Auditing: Trends and Challenges
Internal auditors are tasked with bringing objectivity to the assurance functions they perform within an enterprise. They are also increasingly called upon to provide a wide range of advisory services,...
View ArticleVoices of the Profession: Video Interview with Mark Martinelli, Chief Audit...
Internal auditors are tasked with bringing objectivity to the assurance functions they perform within an enterprise. They are also increasingly called upon to provide a wide range of advisory services,...
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ICYMI | The Audit Report Returns to Its Roots
The evolution of the standard audit report has been slow and cautious over the past century. Most recently, in 2011, the AICPA’s Auditing Standards Board (ASB) issued Statement on Auditing Standards...
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One CPA’s Journey from Auditor to Consultant and Fintech Entrepreneur
Five years ago, I was working on an audit near Sacramento, Calif., having lunch with my manager and another auditor from the CPA firm where I worked. We talked about our career goals. I said that I...
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A 2020 Global Auditing Forecast
In the Big Audit model—by which the world’s large public companies engage the international networks of the Big Four to provide financial statement assurance for their use and that of the capital...
View ArticleManaging the Risks of Client Acceptance and Continuance
In Brief Auditors bear many responsibilities to their clients, but they also have a duty to uphold the public trust. The negative actions of clients can sometimes rebound on auditors, damaging that...
View ArticleKeynote Address: William D. Duhnke III
Currently, the PCAOB is in the middle of a significant change. As many of you know, I joined the PCAOB just under two years ago. When I joined, the SEC had just decided to reconstitute the entire...
View ArticleEnsuring Integrity: A New Strategic Vision for Improving Audit Quality
The 14th Annual Audit Conference, hosted by Baruch College on December 3, 2019, once again brought together auditors, regulators, standards setters, and preparers to discuss current topics in auditing....
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ICYMI | The PCAOB as Third-party Payer
The idea of introducing a third-party payer into the auditor-client relationship has received some attention from regulators, academics, and accounting firms in recent years. Years ago, both the PCAOB...
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ICYMI | The Importance of Audit Partners’ Background
Public company audit partners are trusted as watchdogs of the capital markets. A forthcoming study by the authors of this article finds that audit partners’ gender, education, and social connections...
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Textual Analysis for Risk Profiles from 10-K Filings
In Brief Technology can be used by auditors to evaluate the risks presented by engagements. This article introduces a Natural Language Processing (NLP) approach to conduct textual analysis of...
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ICYMI | Machine Learning in Auditing
In Brief Machine learning provides the potential for significant improvements in audit speed and quality, but also entails certain risks. The authors provide a general overview of machine learning,...
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ICYMI | A 2020 Global Auditing Forecast
In the Big Audit model—by which the world’s large public companies engage the international networks of the Big Four to provide financial statement assurance for their use and that of the capital...
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Independence Matters
In Brief Auditor Independence is integral to the financial reporting system and trust in the capital markets. But recent cases against large audit firms underscore the challenges firms face in ensuring...
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ICYMI | Independence Matters
In Brief Auditor Independence is integral to the financial reporting system and trust in the capital markets. But recent cases against large audit firms underscore the challenges firms face in ensuring...
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