With so many developments happening in the world of accounting right now, it's hard to keep up - but don't fret. In this eBook, produced by Compliance Week in partnership with ACL, we get into the weeds of what some of the biggest changes are and what companies can expect. First, we’ll dive into the weeds of a new guidance for auditors describing what role they have, and what actions to take when they stumble upon illegal activity.
Next, we explore proposed new regulations for auditors issued by the Public Company Accounting Oversight Board (PCAOB) that could lead to more documentation and evidence requests around accounting estimates—or not—depending on how auditors have already adapted. We further illustrate possible outcomes from the PCAOB’s transparency rules for auditors, and what serious consequences they potentially bring to organizations. Among other developments, companies can expect to see some shifting in how valuation specialists produce and document valuations underpinning financial statement assertions. as the profession adapts to increasing demands for consistency. This eBook explores those changes, how to reduce the cost of Sarbanes-Oxley compliance, and more.