Recent Audit Developments SP 10

Recent Audit Developments SP 10 - Recent Audit developments...

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Click to edit Master subtitle style 1/21/11 Recent Audit developments
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1/21/11 PCAOB—supervisory approach and market challenges
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1/21/11 Supervisory approach Compared to regulatory or oversight approach Focus on enterprise-wide risk management Identify areas for improvement
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1/21/11 Inspection program Assess whether audits were consistent with standards Assess adequacy of firms’ systems and structures Quality controls Management Internal communication
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1/21/11 Inspection program Scrutinize key factors Client selection Compensation practices Leverage Overall management approach Tone-at-the-top
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1/21/11 Inspection program Audit deficiencies Revenues Estimates Fair value Income taxes Internal control Outside service organization Specialists Materiality, scope and audit differences Failure to apply skepticism Analytical procedures Substantive tests
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1/21/11 Inspection program Remediation More closely align partner
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Recent Audit Developments SP 10 - Recent Audit developments...

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