Audit standards

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.