The 15-Minute A&A Update: Beware Fraud Issues in EBP Audits, and More
Also in the latest CPA Trendlines Plain-English A&A podcast:
AU-C Section 265: Communicating Internal Control Related Matters – When practitioners are implementing the clarified auditing technical literature at the end of this year, some new guidance associated with communicating internal control related matters identified in audit engagements needs to be addressed.
Employee Benefit Plan Audits: Considering the Fraud Issues – When practitioners are performing audits of employee benefit plans, it is important to remember that there is a potential for fraud that could result in financial statements being materially misstated.
Compilation & Audit Reports: Some New Guidance – The AICPA has released some helpful implementation guidance addressing compilation reporting issues in two areas, business valuation engagements and independence matters, and there also is some guidance that might be considered when audit reports need to address going concern issues.
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