In the Auditor’s Responsibility section of the audit report, auditors discuss their responsibility to express an opinion and that they conducted the audit in accordance with GAAS and potentially other standards (e.g., the Yellow Book, the Uniform Guidance for Federal Awards, etc.). Since auditors are required to apply AU-C section 230, Audit Documentation, as part […]
Displaying: May 2018
Courses to Fit Your Life: 3 Ways Surgent’s Unlimited CPE for CPAs Is Perfect for You
CPE hours are an integral part of the accounting profession; CPAs use them not only to keep their licenses current, but to stay up-to-date on new technologies and advancements and enhance their careers. However, getting CPE hours isn’t exactly easy, and finding relevant opportunities can be time consuming and frustrating, especially if your deadline is […]
Changes Coming to the Non-PCAOB Audit Report
We’ve heard quite a lot recently about the coming inclusion of critical audit matters (CAMs) in the audit report for audits following PCAOB auditing standards. CAMs are those items that have been reported to a client’s Audit Committee and relate to accounts or disclosures that are material to the financial statements and involve especially challenging, […]
Alimony and the Tax Cuts and Jobs Act: Tax Implications of the New Law
The Tax Cuts and Jobs Act implemented in December 2017 will cause dramatic changes to the tax treatment of alimony payments as of January 1st, 2019, effectively reversing the tax treatment of payments by payers and recipients. Here, we’ll provide an overview of how the new law will affect divorce or separation instruments, and how […]