Results from KPMG Audit Committee Institute Report

This link contains a digest of where it is recognized that audit committees feel like they are doing a good job.   But the challenges and concerns that could land a company on the front page of news relate to security issues.   http://www.complianceweek.com/the-audit-committee-conundrum-it-risks/article/331247/

European audit proposal moves ahead

Draft has been approved - final vote coming in April 2014 http://journalofaccountancy.com/News/20149495.htm

An ethical dilemma app

You can use the online version without a download, to see how it works.  It is based in UK, but has interesting situations highlighted.   http://www.saynotoolkit.net/

Will such things ever take the place of paying attention to that feeling in your gut?   Still when alone in the midst of a decision, another perspective may be helpful.

Cheating and "the high" that can come with it

Implications for fraud and for CPAs in this piece   http://blog.aicpa.org/2014/01/cheaters-high-lets-talk-about-the-auditors-high.html#sthash.SxdhMLZJ.dpbs

PCAOB and Grant Thornton

High  failure rate given to the firm for audits done in 2012 as per article http://www.complianceweek.com/pcaob-gives-grant-thornton-record-failure-rate/article/328793/

Here is copy of the report
 http://pcaobus.org/Inspections/Reports/Documents/2013_Grant_Thornton_LLP.pdf

Comfort letters

A helpful series of links and resources are available at this post.   Caution when providing comfort letters.   http://blog.aicpa.org/2014/01/trust-but-verify-another-perspective-on-comfort-letters.html#sthash.D0UcIgnu.9ZLgunkD.dpbs

Reactions to PCAOB plan for increased audit disclosures

This inclusion of critical audit matters is meeting with resistance from some preparers.   http://journalofaccountancy.com/News/20149360.htm