Audit & Assurance

ISRS 4410: The Standard for Today’s Compilation Engagements

by Phil Cowperthwaite, Former Member, IFAC SMP Committee | January 22, 2015 |

With the growing demand for non-assurance services, compilation engagements conducted in compliance with the revised International Standard on Related Services (ISRS) 4410 provide new opportunities for professional accountants in practice and their clients.  Read More

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Communication Is Vital to the Performance of SME Audits
by Katharine Bagshaw, Member, IFAC Small and Medium Practices Committee | November 11, 2014 | 2

Identifying who is charged with governance, and ensuring appropriate communication and documentation, are vital to the success of smaller entity audits. Read More

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Growing Your Practice: Agreed-Upon Procedures Engagements
by Dawn McGeachy, IFAC SMP Committee Member & Chair of the Implementation Guidance Task Force and Christopher Arnold, Technical Manager, SME & SMP Affairs, IFAC | October 28, 2014 | 1

Recognizing that agreed-upon procedures engagements have the potential to be an attractive and fast-growing service offering to SMEs, the IFAC SMP Committee is interested in how these engagements are being performed under ISRS 4400, Engagements to Perform Agreed-Upon Procedures Regarding Financial Information. Read More

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Why Review Engagements Might Be a Perfect Fit for Your Small Business Clients
by Phil Cowperthwaite, Member, IFAC SMP Committee | October 17, 2014 | 4

Review engagements provide a limited form of assurance on historical financial statements and may be a cost effective and value-adding alternative when an audit is not required.  Read More

 1 Recommended

Quick and Accurate Data Extraction Enabled by New AICPA Standards
by Kristine Hasenstab, Director, PwC US, and a CPA in Georgia and Eric E. Cohen, XBRL Global Technical Leader, PwC US, and a CPA in New York | September 29, 2014 |

A new series of standards from the American Institute of CPAs for organizing general ledger and sub-ledger data may reduce the effort involved in finding, preparing, and sharing evidentiary data. Read More

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