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Howard B. Levy, CPA

Home /Howard B. Levy, CPA
Featured

ICYMI | Financial Reporting and Auditing Implications of the COVID-19 Pandemic

Some Practical Guidance

By  Howard B. Levy, CPA

August 2020 0

In Brief The COVID-19 pandemic has disrupted life around the world, but business, in altered fashion, goes on. Companies will have to report on their…

Featured

Financial Reporting and Auditing Implications of the COVID-19 Pandemic

Some Practical Guidance

By  Howard B. Levy, CPA

June 2020 0

In Brief The COVID-19 pandemic has disrupted life around the world, but business, in altered fashion, goes on. Companies will have to report on their…

Featured

Recent SEC Disclosure Simplification Rules Adopted

By  Howard B. Levy, CPA

November 2018 0

This article is an update to the author's auditing column covering the same material in the proposal stage, published in the August 2018 issue of The…

Featured

Disclosure of Pending Accounting Changes

By  Howard B. Levy, CPA

November 2018 0

This article contains practical guidance and support as to the appropriate disclosure of the expected effects of significant future accounting changes from new GAAP standards…

Featured

Maintaining Auditor Independence When Giving Accounting Assistance and Advice

By  Howard B. Levy, CPA

October 2018 0

Auditors serving smaller businesses know that those clients often need help navigating the highly technical and overwhelming body of accounting standards. They also know that…

August 2018 Issue

ICYMI | How Many Engagement Inspections Is Too Many?

Streamlining the Scope of Quality Control Inspections

By  Howard B. Levy, CPA

September 2018 0

The inspection process is a critical part of any audit firm's accounting and auditing quality control (QC) system. The lack of precise guidance in the…

Featured

‘Net Realizable Value’ Is the New ‘Market’

The Effects of ASU 2015-11 and Other Inventory Valuation Issues

By  Howard B. Levy, CPA

June 2018 0

This month's column highlights the principal effects of FASB's Accounting Standards Update (ASU) 2015-11, Simplifying the Measurement of Inventory. While the standard's primary impact has been…

Columns

Reporting on Audits Conducted Under Dual Standards

By  Howard B. Levy, CPA

May 2018 0

As noted by the PCAOB in its Release 2017-001: “there are situations in which an auditor may be required by law or regulation, or voluntarily…

Columns

Reissuing an Audit Report on Comparative Financial Statements after an Auditor Change

By  Howard B. Levy, CPA

April 2018 0

The June 2017 installment of this column covered “Reporting on Restatement Adjustments after an Auditor Change” (http://bit.ly/2pQMClB). This installment expands on that theme, providing guidance…

Featured

Overcoming Disclosure Overload and Achieving Greater Disclosure Effectiveness

A Status Report

By  Howard B. Levy, CPA

March 2018 0

Although still in the proposal stage, there has been substantial movement by both FASB and the SEC on major issues discussed by this author in…

Featured

ICYMI | Unsolved Problems in Auditing: A Half Century Retrospective and an Update

2016 Max Block Award Winner: Outstanding Article in the Area of In Focus/Feature

By  Howard B. Levy, CPA

March 2018 0

Auditing has been an ever-changing discipline since its birth over 100 years ago, but how much have the challenges auditors face really evolved over the…

Columns

The Audit Report Returns to Its Roots

An Historical Perspective on Critical Audit Matters

By  Howard B. Levy, CPA

February 2018 0

The evolution of the standard audit report has been slow and cautious over the past century. Most recently, in 2011, the AICPA's Auditing Standards Board…

Featured

How to Report Internal Control Deficiencies

By  Howard B. Levy, CPA

October 2017 0

Auditors are required to communicate to audit committees or others charged with governance “significant control deficiencies,” including “material weaknesses” [as these terms are defined in…

Featured

Has the DOL Pushed the ASB Too Far?

Push Back—Now!

By  Howard B. Levy, CPA

September 2017 0

In April 2017, the AICPA's Auditing Standards Board (ASB) issued an Exposure Draft Proposed Statement on Auditing Standards (the ED) entitled “Forming an Opinion and…

Featured

Redeeming Value of Social Media: How the Ice Bucket Challenge Invigorated the ALS Association

By  Howard B. Levy, CPA

August 2017 0

The modern marvel of Facebook and other social networking sites has been consuming the leisure time of many Americans for quite a while now, and…

Featured

Distinguishing Agreed-Upon Procedures from Consulting Engagements and Reports

By  Howard B. Levy, CPA

July 2017 0

Editor's Note: The following guidance applies to non–publicly held entities. Guidance for SEC issuers under PCAOB standards may differ. Agreed-upon procedures engagements are a special type…

Featured

Use of ‘Composite’ (or ‘Group’) versus ‘Component’ and ‘Unit’ Depreciation

By  Howard B. Levy, CPA

June 2017 0

Editor's note: The following is a supplement to the author's “Depreciable Asset Lives: The Forgotten Estimate in GAAP,” published in the September 2016 CPA Journal.…

Columns

AUD | Has the SEC Awakened a Sleeping Giant?

The Familiarity Threat to Auditor Independence

By  Howard B. Levy, CPA

January 2017 0

For over 50 years, observers have questioned whether auditors who provide consulting or other nonattest services to their clients can be independent, and regulators continue…

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Our Latest Content

  • Strategic Finance is Having a Moment February 2023
  • Technostress and the Accounting Profession February 2023
  • Diversifying the Audit Profession February 2023
  • Adding Age (A) to DEI Is a Good IDEA February 2023
  • CPAJ News Briefs: FASB, AICPA February 2023












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