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Independent Standard-Setting Boards
The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.
The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.
The International Ethics Standards Board for Accountants sets high-quality, internationally appropriate ethics standards for professional accountants, including auditor independence requirements.
The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.
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Audit & Assurance
Accounting firms offer a wide range of professional services to their clients, including audit, review, other assurance, and related services. These services are regulated, with many jurisdictions requiring compliance with international standards or national requirements that have been based on international ones. High-quality international standards increase the comparability, consistency, clarity, credibility, and transparency of financial information. And, high-quality financial information, in turn, increases the stability of the global financial infrastructure. Read More
Clarified Auditing Standards: Audit Sampling–Part 2
August 13, 2015 - Accounting Web
This article will discuss planning both a nonsampling and sampling application.
Audit Data Standard working group helped to develop new technologies that will contribute to the effectiveness, timeliness, and efficiency of the audit process. One of the main projects that this task force has been working on is developing a standardized data model that management, internal auditors and external auditors could utilize for enhanced analytics that would further improve the timeliness and effectiveness of the audit process.
Clarified Auditing Standards: Audit Sampling–Part 1
August 6, 2015 - Accounting Web
Defines audit sampling as the application of an audit procedure to “less than 100 percent of the items” within an account balance or class of transactions for the purpose of evaluating some characteristic of the balance or class.
This publication is designed to help CPAs better understand and apply Statement on Quality Control Standards (SQCS) No. 8,A Firm’s System of Quality Control (Redrafted) (AICPA, Professional Standards, QC sec. 10). SQCS No. 8 is included as appendix A of this Practice Aid.
Is an interviewing strategy all talk? Not if you want to save time and money while conducting more effective investigations.
Examines whether the effect of mandatory auditor rotation on audit quality depends on the mental frame auditors adopt in evaluating management representations.
Audit and Assurance Alert: CSAE 3000 and CSAE 3001
July 16, 2015 - CPA Canada
Learn about the requirements pertaining to attestation engagements other than audits or reviews of historical financial information in accordance with CSAE 3000, and direct engagements in accordance with CSAE 3001.