Audit standards

The board adopted a set of amendments to strengthen the rules that apply to audits involving multiple audit firms.

The board plans to hold a meeting next Wednesday with its reconstituted Investor Advisory Group, the first meeting in nearly four years with one of its biggest stakeholders.

The revamped board updated its standard-setting and research agendas Wednesday as it takes on new projects.

The institute is continuing a tradition that dates back to the 1990s as a way to highlight the work of the profession.

The board released its 2021 annual report on Thursday, highlighting its main accomplishments as it transitioned to a mostly new board.

The International Auditing and Assurance Standards Board released a revised standard Thursday to focus on the special considerations that apply to audits of group financial statements.

For now, it’s technology, but soon it will be more about demand from markets — and society as a whole.

The board approved charters for the membership and activities to revive its old Investor Advisory Group and set up a new Standards and Emerging Issues Advisory Group.

The Public Company Accounting Oversight Board is once again forming an Investor Advisory Group and starting a new Standards and Emerging Issues Advisory Group after the old board came under sharp criticism for scrapping its outside advisory groups.

The American Institute of CPAs has updated its practice aid for accounting and auditing of digital assets, with added material on cryptocurrency.

The board has a new leader, Erica Williams, after its new chair was sworn in Monday by the Securities and Exchange Commission in a virtual ceremony.

The board is surveying stakeholders about easing the audit requirements for less complex companies, while beefing them up for more complicated structures.

The updates are mostly technical, but some cover remote-work arrangements for some seconded employees during the pandemic.

The Public Company Accounting Oversight Board is regrouping with a slate of new board members recently appointed by the Securities and Exchange Commission, and it approved its fiscal year 2022 budget during a rare open meeting on Tuesday.

The Securities and Exchange Commission has appointed longtime SEC official Erica Y. Williams as the new chair of the Public Company Accounting Oversight Board, and named three new members.

The institute released a new standard to help auditors assess the risks of material misstatement.

The board staff issued guidance on some of the considerations auditors should have about the relevance and reliability of information they get from external sources and plan to use as audit evidence.

The board has issued a supplemental call on its proposals surrounding lead auditors’ responsibilities.

The American Institute of CPAs has released a set of questions and answers to help auditors of benefit plan financial statements deal with this complex field and a revised standard.

With two rounds of implementation behind us, it’s time to reflect on what we’ve learned so far from the required disclosures of critical audit matters.