The SAS becomes effective for audits of financial statements for periods ending on or after December 15, 2023.ĪICPA Comments on SEC Request for Public Input on Climate Change Disclosures You can find additional details on SAS No.
using the work of an auditor’s specialist. evaluating management’s estimates related to the fair value of financial instruments. management has used the work of a specialist in developing accounting estimates. The SAS provides guidance in AU-C section 501 on applying SAS No. 
It addresses certain comments that were received on the exposure draft that resulted in the issuance of SAS No.
CPA FIN ACAD 2016 PROFESSIONAL
143, Auditing Accounting Estimates and Related Disclosures (AU-C section 540 in AICPA Professional Standards). 144, Amendments to AU-C Sections 501, 540, and 620 Related to the Use of Specialists and the Use of Pricing Information Obtained From External Information Sources. The AICPA Auditing Standards Board has issued Statement on Auditing Standards (SAS) No. Department of Labor’s May employment report, scheduled for release tomorrow, looks back on the previous month’s hiring trends.ĪICPA’s New Auditing Standard Provides Additional Guidance on the Use of Specialists and Pricing Information The AICPA survey is a forward-looking indicator that tracks hiring and business-related expectations for the next 12 months.
The hiring picture is also significantly improved, with 33 percent of executives saying their companies planned to fill positions immediately, up from 19 percent last quarter. Both projections are at their highest level since 2018. And revenues are expected to climb five percent, up from three percent. Profits are expected to grow by four percent in the next 12 months, more than doubling last quarter’s 1.9 percent forecast. Some 69 percent of executives say their companies plan to expand in the next 12 months, up from 58 percent last quarter. Business executives’ optimism about their own organization’s prospects over the next 12 months rose to 76 percent from 58 percent last quarter. Most of the outlook was overwhelmingly positive, however: And two-thirds of business executives now express concern about inflation, up from 44 percent last quarter, “Availability of skilled personnel” reemerged as the top-cited challenge for businesses as job recruitment turns up. companies who hold executive and senior management accounting roles. The survey polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. Economy Hits Three-Year High, AICPA Survey Findsīusiness executives are predicting the economy will roar back in the coming year, with revenue and profit growth expectations not seen since 2018, according to the second-quarter AICPA Economic Outlook Survey.
0 kommentar(er)
