Revised compilation and review report requirements to be included in SSARS No. 24

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The AICPA Accounting and Review Services Committee (ARSC) has voted to issue a new standard in late May containing revised compilation and review report requirements. The new standard is titled Statement on Standards for Accounting and Review Services (SSARS) No. 24, Omnibus Statement on Standards for Accounting and Review Services — 2018. Its release date is
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ASB addresses auditor’s report, other information, standards alignment

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The AICPA Auditing Standards Board (ASB) issued three proposals meant to enhance the relevance and usefulness of the auditor's report for audits of nonissuers. Proposed Statement on Auditing Standards: Auditor Reporting and Proposed Amendments — Addressing Disclosures in the Audit of Financial Statements would revise and expand the auditor's report and seeks alignment with the guidance of
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ACCA chief executive on the value of audit

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Where does the value of audit come from? In recent years, we have seen some high profile business failures where, as with the recent case of Carillion, the ensuing analysis has, among other things, focused on the role of audit. It is absolutely appropriate for us to investigate these situations and look for lessons to
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AICPA and NASBA sign pact with Scottish accountants

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NASBA president and CEO Ken Bishop (left), ICAS CEO Anton Colella, and AICPA president and CEO Barry Melancon sign a mutual recognition agreement Courtesy of NASBA The American Institute of CPAs and the National Association of State Boards of Accountancy have signed a mutual recognition agreement with the Institute of Chartered Accountants of Scotland to
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