In Brief The PCAOB recently issued changes to the audit report, one of which explicitly clarifies auditors’ responsibilities for fraud by adding the phrase “whether…
CPAs and Conflicts of Interest
A Recap of Recent AICPA Guidance
The AICPA Code of Professional Conduct acknowledges that CPAs in both public practice and business may be faced with conflicts of interest when performing professional…
Changes to Going Concern Disclosures
Accounting Guidance Shifts Responsibilities to Management
Historically, auditors of financial statements have been charged with the assessment of an entity's ability to continue as a going concern (see AU 341, “The…