Texas CPAs Object to Auditor Signature Requirement

of the PCAOB
http://www.accountingtoday.com/news/Texas-CPAs-Object-Auditor-Signature-Requirement-61203-1.html

PCAOB and Dubai to reach

agreement on inspections http://www.accountingtoday.com/news/PCAOB-Strikes-Inspection-Deal-Dubai-61180-1.html

Convergence comments

http://www.journalofaccountancy.com/Web/20114882.htm

A forensic accounting website

http://www.forensicaccounting.net/

The convergence

Not really auditing per se, but still related.  http://www.journalofaccountancy.com/Web/20114869.htm

Enron revisted after 10 years

by the grumpy accountants  http://accounting.smartpros.com/x73056.xml

New fraud literacy quiz

from Financial Executives International http://www.financialexecutives.org/KenticoCMS/Knowledge-Center/quizzes/Anti-Fraud.aspx

Auditors can be scammed too

An interesting article about how the audit confirmation process could be purposely subverted.  http://www.forbes.com/sites/danielfisher/2011/11/08/scamming-the-auditors-is-as-simple-as-cut-and-paste/

One example of a secure tool is http://clientsolutions.cpa2biz.com/confirmation/index.html

Risks of SaaS assessing and managing the risk

Risks of cloud software are detailed in this Grant Thornton publication http://www.grantthornton.com/portal/site/gtcom/menuitem.91c078ed5c0ef4ca80cd8710033841ca/?vgnextoid=288fa42c5c13f210VgnVCM1000003a8314acRCRD&vgnextfmt=default

SOX 404 audits and Risk assessment

The point about this article is that there is more than just looking back  that is important in company audits   http://accounting.smartpros.com/x72966.xml

PCAOB and its critique of a big 4

 in terms of audit quality controls   http://www.reuters.com/article/2011/10/17/us-deloitte-pcaob-idUSTRE79G6EQ20111017

China regulators quiz large audit firms about

audit information that is shared with oversears regulators.
 http://www.reuters.com/article/2011/10/19/us-china-accounting-idUSTRE79I16420111019

Worst corporate boards of the last decade

See this article http://www.thedailybeast.com/galleries/2011/09/23/10-worst-corporate-boards-photos.html

ASB issues SAS 122-124 from Clarity Project

A description follows here.  http://www.aicpa.org/InterestAreas/FRC/AuditAttest/Pages/DescriptionofClarifiedSASs.aspx

Resources from AICPA to combat fraud

and look at risk http://www.aicpa.org/INTERESTAREAS/BUSINESSINDUSTRYANDGOVERNMENT/RESOURCES/CORPORATEGOVERNANCERISKMANAGEMENTINTERNALCONTROL/Pages/riskmanagmentandinternalcontrol.aspx

Audit Committees

Quarterly publication from Ernst and Young http://www.ey.com/US/en/Services/Assurance/BoardMatters-Quarterly--September-2011---Enhancing-audit-committee-performance-through-ongoing-feedback

SEC destroy fraud files

See attached information http://finance.townhall.com/columnists/mikeshedlock/2011/08/18/sec_destroys_9000_fraud_files/page/2

also see this more detailed information in smartpros on the same subject http://accounting.smartpros.com/x72543.xml

AIG sues Bank of America - charging fraud

American International Group Inc. is suing Bank of America Corp to recover more than $10 billion over a "massive fraud" on mortgage debt, deepening the litigation morass facing the largest U.S. bank.



http://www.reuters.com/article/2011/08/08/bankofamerica-aig-lawsuit-idUSN1E7770B620110808

the do's and don'ts of garnishment

for small business http://www.openforum.com/articles/what-every-employer-needs-to-know-about-garnishment?extlink=em-openf-SBdaily

CPAs as whistleblowers

Article about a recently implemented whistleblower program that would financially reward a CPA. Possible problems this controversial program are discussed. http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2011/CPA/Jul/Whistleblowers.jsp

Regulators and standard setters

a deepening conflict. http://news.idg.no/cw/art.cfm?id=7670CB1F-1A64-6A71-CEF8BA0648EEC9D2

PCAOB concept release on audit report available

per Journal of Accountancy http://www.journalofaccountancy.com/Web/20114281.htm

PCAOB considers changes to

audit reporting model.  See this AICPA article http://www.journalofaccountancy.com/Issues/2011/Jul/20113954.htm

A nice selection of fraud videos

at this link, free of charge. http://www.theprosandthecons.com/videos/fraud/adoption_bonuses_drive_behavior.htm

PCAOB blocks auditor

in tightening its policy within China http://www.bloomberg.com/news/2011-06-09/hong-kong-auditor-rejected-by-u-s-.html

The human factor in fraud

Jonathon Marks of Crowe Horwath in this article links behavioral factors and fraud http://www.crowehorwath.com/3-column-page.aspx?id=2264&terms=freud

resources for audit professors

at this link http://auditeducation.info/about-me.html

PCAOB considers audit rotation

read about it in this Journal of Accountancy article http://www.journalofaccountancy.com/Web/20114222.htm

Center for Audit Quality Fraud Initiative Report

and Findings are at this link http://www.thecaq.org/Anti-FraudInitiative/index.htm

The CFO article addresses some of the findings which shows fraud at near all-time high in the first quarter of 2011.   http://www.cfo.com/article.cfm/14577901/

Trying to stop the Ponzi schemes

and paying a high price  http://accounting.smartpros.com/x71970.xml

Results of European fraud survey

from Ernst Young.  As you guessed, corruption is still widespread and presenting challenges http://online.wsj.com/article/SB10001424052748703421204576329134261805612.html?mod=djemEditorialPage_t#articleTabs%3Darticle

Lady Gaga draws them to the SEC website

as per the attached article, which mentions how disclosures can get interest.  For example the possible mob killing   http://www.accountingtoday.com/debits_credits/SEC-Manual-Gets-Attention-Lady-Gaga-Fans-58328-1.html

Scoring the CPA exam

under the new system http://www.journalofaccountancy.com/Issues/2011/May/20103616.htm

IRS audits payroll taxes

beware http://blogs.forbes.com/robertwood/2011/04/12/irs-nightmare-what-employment-taxes/

PCAOB discussion

of audit standards.  this is a British view http://news.idg.no/cw/art.cfm?id=5D248463-1A64-6A71-CE2C8ADADE10CE68

PWC suvey about internal auditors

7th annual global state of internal audit  results http://accounting.smartpros.com/x71580.xml

Grant Thornton Survey

of audit executives...thoughts about the threat of shifting regulatory landscape, role of SOX, cloud computing, data analytics and more http://accounting.smartpros.com/x71554.xml

FBI Site

for white collar crime.  Good for fraud awareness and to learn about common frauds.   http://www.fbi.gov/about-us/investigate/white_collar/whitecollarcrime

PCAOB and Chinese Reverse Merger Concerns

are detailed in this Journal of Accountancy article http://www.journalofaccountancy.com/Web/20113952.htm

EC audit reform is seen as utopian

according to the new chairman of the PCAOB http://www.vrl-financial-news.com/accounting/the-accountant/issues/ta-2011/ta-6087/ec-audit-reform-%E2%80%9Cutopian%E2%80%9D-dot.aspx

Stepped up enforcement of

the Foreign Corrup Practices Act has emphasized the scrutiny of companies in their involvement with others.  The article shows the top ten settlements in 2010 on enforcement actions from 2010 and years earlier http://www.cfo.com/article.cfm/14555334

Ernst Young article on fraud

made the cover of the most recent Fraud Magazinehttp://www.ey.com/Publication/vwLUAssets/Who_owns_fraud_proof/$FILE/Who_owns_fraud.pdf

PCAOB to ramp up inspections

now that the organization is in the clear from the question of whether its existence was constitutional http://www.bloomberg.com/news/2011-02-11/u-s-audit-watchdog-to-ramp-up-enforcement-new-chairman-says.html

PCAOB inspection chief

planning to retire in March http://www.accountingtoday.com/news/PCAOB-Inspection-Chief-Diacont-Retire-57209-1.html

Going concern blog

includes results of AICPA staffers discussings CPA exam changes http://goingconcern.com/2011/01/the-aicpa-talks-to-going-concern-about-the-new-cpa-exam/

A fun Video

of a PWC auditor competing on the American idol http://goingconcern.com/2011/01/is-this-pwc-auditor-your-next-american-idol/#more-24553
He's going to Hollywood!

Bernie Madoff fraud

The results in a picture http://www.usfst.com/The-Fraud-of-Bernard-Madoff.html

The CPA involved still had a pending sentence http://www.taxgirl.com/friehling-loses-cpa-license-still-awaits-sentencing/    But stay tuned for this upcoming March http://www.nysscpa.org/blog/2010/9/2/madoff-auditor-sentencing-postponed-until-march

Audits worth it?

article from Wall Street Journal.  Highlights theresults of one study of the interest savings derived from the audit   http://online.wsj.com/article/SB10001424052748703791904576076474014311438.html?mod=dist_smartbrief

New chairman of PCAOB

A new chairman and two members of PCAOB http://www.complianceweek.com/sec-firms-up-three-pcaob-appointments/article/193894/
This brings the board back to full capacity.  This article also details the current salaries http://www.bloomberg.com/news/2011-01-07/sec-s-schapiro-said-to-pick-doty-to-lead-public-accounting-oversight-panel.html
Also Francine McKenna offers some more personal insights on the selections at her blog http://blogs.forbes.com/francinemckenna/2011/01/07/sec-stacks-the-deck-against-investors-at-pcaob/