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Heads Up — Highlights of the 2015 AICPA Conference on Current SEC and PCAOB Developments

Published on: Dec 15, 2015

Against the backdrop of the headline-grabbing U.S. presidential race, financial statement regulators, preparers, and auditors converged on the nation’s capital and epicenter of American politics to discuss topics that are highly unlikely to be the subjects of any election debate. Nevertheless, last week’s three-day conference generated its own brand of accountant and auditor energy, inspired in part by the #AuditorProud social media blitz that was spearheaded by the CAQ and mentioned in conference remarks by the CAQ’s Executive Director Cynthia Fornelli.

Continuing the historical theme of this annual event, the 2015 conference featured insights on current accounting, reporting, and auditing practice issues from numerous speakers and discussion panels with the common goal of improving the U.S. financial reporting system. Likewise, enhancing transparency and improving ICFR were again key topics because of the critical role they play in protecting investors.

Several speakers and panelists addressed these themes in the context of (1) ensuring that registrants’ disclosures are useful, (2) providing high-quality financial information, (3) executing high-quality audits, and (4) developing new accounting standards that reduce complexity and increase transparency.

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