Weighing up changes to IAASB standards
As the IAASB considers whether changes are required to international standards for agreed-upon procedures, how does this affect accountants undertaking such engagements?
ISA 540: Estimation unknown
Changes to accounting and auditing standards don’t take place in a vacuum and the proposed changes to ISA 540 is a clear example of this
A question of ethics
The new FRC Ethical Standard may raise more questions than it answers
The Nordic Audit
Should the UK adopt seperate audit standards for SMEs?
Insurance sector gets improved accounting model with IFRS 17
But to comply insurance companies face complex and costly implementation process
Profession criticises new audit proposals
Proposals from the Joint Monitoring Group to remove international audit and ethical standard-setting met with resistance
Top firms must explain materiality judgments better
The FRC worries that differences in the way audit firms assess materiality can lead to different audit conclusions
Changes in accountancy
Julia Irvine examines the ten biggest changes in accountancy since 2012
PCAOB gains access to Irish audit firms
The US audit watchdog can now inspect 12 firms that audit US-listed companies with market cap of $75bn
US watchdog slates standard of broker-dealer audits
PCAOB says auditors still breaking independence rules and failing to improve audit flaws
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