Tag: PCAOB

They’re baaack! PCAOB reproposes disclosure of “critical audit matters”

by Cydney Posner Last week, after five years of outreach, the PCAOB once again attempted to make the auditor’s report more relevant and informative to investors by reproposing the auditor reporting standard, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion, and related […]

SEC approves PCAOB rule requiring identification of audit engagement partner on Form AP

by Cydney Posner On Monday, the SEC approved PCAOB rules requiring that, for each audit report, audit engagement partners be named on a new Form AP. The form will also disclose the names and Firm IDs, locations and extent of participation of any other accounting firms, outside of the principal auditor, […]

PCAOB adopts rule requiring audit engagement partners to be named on new Form AP

by Cydney Posner At an open meeting this morning, the PCAOB voted to adopt new rules requiring audit firms to disclose, on new PCAOB Form AP —  Auditor Reporting of Certain Audit Participants, the name of the audit engagement partner.  The form will also disclose the names, locations and extent […]

SEC Chair and staff presentations at AICPA National Conference

by Cydney Posner SEC Chair Mary Jo White and a cast of thousands from the SEC’s Office of the Chief Accountant delivered remarks yesterday before the 2015 AICPA National Conference on Current SEC and PCAOB Developments. Summarized below are some of the key themes of their speeches:

Two tips for audit committees

by Cydney Posner It’s getting to be that time of year when visions of sugarplums may dance in your head — alongside more mundane thoughts and concerns about financial statements, audits, audit committees and year-end reporting that just might disturb your otherwise pleasant holiday season.  With that in mind, this column  in […]

AS 18 creates a new buzz about related-party transactions for the audit of 2015

by Cydney Posner As discussed in this PubCo post, last year the PCAOB adopted Auditing Standard No. 18, Related Parties, addressing related-party transactions, significant unusual transactions and transactions with executive officers. (See the standard , related fact sheet and SEC release.) These types of transactions are considered to pose an increased risk of […]

Big companies voluntarily enhance audit committee disclosures

by Cydney Posner While the SEC and PCAOB ponder what to do with auditor and audit committee reports, an increasing number of large companies have begun to include more audit committee disclosures on a voluntary basis, according to an analysis by the EY Center for Board Matters. The study looked at […]