Audit standards

The Center for Audit Quality released an alert Monday discussing the audit considerations surrounding a private company entering the public markets through a merger with a special purpose acquisition company.

The International Ethics Standards Board for Accountants has revised its ethics standards to safeguard auditor independence for non-assurance services and associated fees.

The memorandum of understanding with the Vietnam Ministry of Finance aims to advance the internal audit profession in Vietnam.

The new SAG replaces the board's two previous advisory bodies.

Audit committee chairs may not be fully able to grasp certain detailed comments from the PCAOB or respond appropriately on behalf of the company.

Like most financial instruments, special purpose acquisition companies present risks and rewards, and require due diligence from accounting firms to help avoid landmines.

The American Institute of CPAs is proposing to revise its quality management standards to take a more risk-based approach targeted at the types of engagements performed by the CPA firm.

The International Auditing and Assurance Standards Board has issued a set of three revised standards aimed at improving quality management for auditors across the globe.

Companies discussed taxes, followed by goodwill and/or intangibles, most frequently during their first year of disclosures of critical audit matters, according to a new report from the Center for Audit Quality.

Auditors have taken a number of steps to address pandemic-related issues, according to a new publication from the Public Company Accounting Oversight Board.