Audit standards are changing. Here’s what CPAs need to know.
Former MACPA chair and Auditing Standards Board member Mike Manspeaker breaks down the standards taking effect this year, major changes involving confirmations and fraud, and what’s coming next
For auditors, keeping pace with new standards can sometimes feel like a full-time job unto itself. And lately, there has been plenty to keep track of.
Several important auditing and quality management standards are reaching their effective dates, and the Auditing Standards Board has recently completed significant new standards addressing confirmations and fraud. Meanwhile, work continues on attestation standards, going concern, audit evidence, risk response, and other issues that could shape audit practice for years to come.
Mike Manspeaker has a front-row seat to all of it.
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