Tag Archives: Audit

Audit Fees and Engagement Discussion Paper

October 22, 2010 Monitor and evaluate the issues of the AICPA’s Professional Ethics Executive Committee (PEEC), to harmonize ethics standards of State Boards of Accountancy with other regulatory bodies, to promote the development and adoption of UAA ethics provisions uniformly among the states, and to share with state boards emerging ethics and other professional issues.…

Ethics and Strategic Issues Discussion

The following discussion explores threats to independence, integrity and objectivity, due professional care, compliance with professional standards and available safeguards to ensure appropriate ethical conduct. Many of the safeguards represent activities auditors routinely apply. Nevertheless, the Committee concluded that existing professional standards do not sufficiently address the issues raised. From a public protection standpoint our…

NASBA Elects New Board Members at Annual Meeting

NASHVILLE, TN (November 19, 2009) — The National Association of State Boards of Accountancy (NASBA) elected a new slate of board members at its 102nd Annual Meeting in Phoenix, Arizona, November 1-4, 2009. Billy M. Atkinson, CPA, of Houston, Texas, acceded to the position of Chair for 2009-2010. Atkinson previously served as vice chair and…

Murray Sees Liability Concern

State Board Report October 2009 While 40 years ago there was minimal audit liability risk, there has been a dramatic acceleration of audit liability costs in the western world, with risk having reached 15 percent of audit revenues, Richard H. Murray, chief claims strategist of Swiss Re, told the FIAR attendees. He stated the shared…

2nd International Regulators Conference

State Board Report June 2009 NASBA will be presenting its second Forum of International Accountancy Regulators (FIAR) on September 10‐11, 2009 in San Francisco. To encourage international regulators to participate, NASBA is offering complimentary registration for two representatives per country. “The forum is being presented to encourage accountancy regulators from around the world to work together…

GAO Looks to NASBA Tracking Process

State Board Report May 2009 NASBA’s process for tracking the status of federal agency referrals to state boards has been recognized in the Government Accountability Office’s “Single Audit Improvements” (GAO‐09‐307R) as a step toward addressing the recommendations in the PCIE’s (President’s Council on Integrity and Efficiency) June 2007 Report on National Single Audit Sampling Project…

CPT Conference on Auditing and Ethics

State Board Report January 2009 Restoring the public’s trust is a game of inches and yards, Congressman K. Michael Conaway (R –TX) told those attending the “Ensuring Integrity: Third Annual Auditing Conference,” co‐sponsored by the NASBA Center for the Public Trust and Baruch College on December 4. Trust “is gained back in inches, but lost in…

Nicolaisen Calls for Federally Chartered Firms

State Board Report November 2008 As NASBA’s Annual Meeting keynote speaker Donald T. Nicolaisen highlighted the some of the final 31 recommendations of the US Treasury Department’s Advisory Committee on the Auditing Profession (ACAP) (see sbr 10/08), he surprised many in the audience with his call for “Federally Chartered Audit Firms.” He pointed out the…