Audit & Accounting

A new academic study has found evidence that Sarbanes-Oxley 404 audits of companies’ internal controls significantly reduce the likelihood of issuing materially misstated financial statements.

Asking the right questions when considering accepting new audit clients, or continuing a relationship with an existing client, is the key to establishing a quality relationship, according to a new paper issued by a group of audit firm networks.

With only weeks to go before next month’s game-changing midterm Congressional elections, the accounting profession is in position to make record-breaking contributions to the campaigns of key House and Senate candidates.

On the last day of the American Institute of CPAs Fall Meeting of Council, members elected a new chairman and adopted a resolution supporting the Blue Ribbon Panel on Standard Setting for Private Companies.

The Financial Accounting Standards Board and the International Accounting Standards Board are soliciting input on when to have their new accounting standards take effect.

Renewing its vision is the new theme for the American Institute of CPAs as it gets ready to welcome in a new chair and enter its 125th year as an organization.

IMGCAP(1)]Check out the digital edition of the October 25 issue of Accounting Today.

The Small and Medium Practices Committee of the International Federation of Accountants has issued the second edition of its “Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities.”

Few CPAs are trying to learn or implement International Financial Reporting Standards until the Securities and Exchange Commission decides next year on whether to approve incorporating IFRS into the U.S. financial reporting system, according to a new survey.