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This On the board’s agenda article from Deloitte explores one of the main topics of audit committee focus for 2019, the reporting of critical audit matters (CAMs) and the board’s role with respect to CAMs. The article includes information about identifying CAMs, CAM preparation, and what boards might expect on these topics in advance of the first reporting of CAMs this summer.
This Audit & Assurance Update (1) highlights key provisions of the PCAOB’s new auditing standard, which is intended to enhance the requirements that are applicable when auditing accounting estimates, including fair value measurements, and (2) describes the PCAOB’s amendments to its auditing standards to strengthen requirements that are applicable when auditors use the work of specialists in an audit.
The world is changing in profound ways. Technologies are driving rapid change in how we live and work, and they are poised to drive a revolution in the audit and accounting disciplines. We’ve given a great deal of thought to how our core disciplines will need to adapt to the ever-changing demand for financial foresight.
The effective date of the new CAS auditor's report is now upon us. Are you ready? Deloitte has created a new brochure that covers the key changes and provides an illustrative report that reflects a common reporting scenario under the ASPE framework.
We work every day to enhance audit quality. That means discussing with our clients how we plan to deliver the audit, evaluating how we did against that plan, and asking audit committees for feedback.
This Heads Up discusses the SEC’s recently issued investigative report on cyber fraud and provides considerations related to a company’s implementation of internal accounting controls to help prevent or detect cybercrimes such as business e-mail compromise scams.
Our aim is to be the True Market Leader, and to achieve that goal we must be the quality leader in our market and in our profession. This aspiration drives how we run our business, how we perform individual audits, and how we think about the future. In this report, we describe the principles, policies, standards and actions we’ve put in place as part of our efforts to continually enhance audit quality and to support our commitment to leading the profession.
We’ve developed this guide to help audit committees explore the value of conducting a comprehensive review and understand the key phases necessary to effectively execute it. We also share our own insights gathered from experience, and provide tips and answers to frequently asked questions of audit committees.
This Audit & Assurance Update summarizes the June 5–6, 2018, PCAOB Standing Advisory Group meeting. The meeting covered (1) the Board’s strategy outlook, (2) implementation of the new auditor’s reporting standard, (3) the PCAOB’s research project related to the use of data and technology in the conduct of audits, (4) cybersecurity and potential implications for financial reporting and auditing, (5) corporate culture and related audit implications, and (6) current or emerging audit issues.
This Audit & Assurance Update summarizes the November 29–30, 2017, PCAOB Standing Advisory Group meeting. The meeting covered (1) recent PCAOB developments, including its standard setting and related research activities; (2) SAG member perspectives on audit quality indicators, professional skepticism, and implementation of new accounting standards; and (3) FASB and IAASB updates on recent standard-setting activities.
