by CPA Journal | Jun 17, 2022 | Articles, Auditing, Debt, Going Concern, Loans
In Brief The worldwide COVID-19 pandemic has affected businesses of every size in every country, and the United States has been hit particularly hard. Many businesses are facing increasing doubts about their ability to continue as a going concern, and the decisions...
by CPA Journal | Apr 7, 2021 | Articles, Auditing
Summary provided by MaterialAccounting.com: There are significant changes in audit reporting standards coming soon. CPAs who audit any entity will be impacted. Read more below. In Brief The AICPA Auditing Standards Board recently issued SAS 134, Auditors Reporting and...
by CPA Journal | Mar 31, 2021 | Articles, Auditing, Impairment
Summary provided by MaterialAccounting.com: This article summarizes critical audit matters and the related audit report communication requirements from the PCAOB through illustrations and examples. In Brief Since the PCAOB issued its requirements for the reporting of...
by CPA Journal | Feb 22, 2021 | Articles, Auditing
Summary provided by MaterialAccounting.com: As the PCAOB continues to evolve, it’s important to learn why it was created and what it has accomplished so far. In Brief It has been nearly two decades since the creation of the PCAOB in response to a series of major...
by CPA Journal | Dec 23, 2020 | Articles, Auditing, US GAAP Accounting
Newly minted CPAs typically have limited hands-on auditing experience. They almost always have no training in specialty areas, such as forensics. A term now commonly used—“frauditing”—connotes approaching an engagement with what would be a routine annual audit with...
