Some of the more judgmental or complex audit areas that practitioners may encounter during the 2017 audit cycle are discussed in a Center for Audit Quality (CAQ) alert published earlier this month.
The CAQ, which is affiliated with the AICPA, published Select Auditing Considerations for the 2017 Audit Cycle and also Select Auditing Considerations for the 2017 Audit Cycle for Brokers and Dealers.
In the alert that is not specifically for broker-dealer audits, the CAQ focuses on auditing considerations related to:
- Auditor independence
- Multinational audits
- Transitioning to new accounting standards
- Audit areas potentially affected by economic factors
- Recurring audit deficiencies
- Financial reporting areas
- Increasing transparency through new disclosures
- Other considerations
For great content to prepare for the 2017 audit cycle, check out two upcoming NCACPA offerings:
Accounting & Attestation Conference
October 24 | 8:00 am-4:30 pm| Grandover Resort | Greensboro
A&A Update
November 10 | 8:30 am-12:15 pm | Fairfield Inn & Suites Charlotte Uptown