10th Anniversary of SOX

has them still debating..   The impact on IPOs, restatements and other matters are alluded to.  http://journalofaccountancy.com/News/20126125.htm?cm_mmc=smartbrief-_-27Jul12-_-CPALD-_-SOXHouse&utm_source=smartbrief&utm_medium=12Jul12&utm_term=CPALD&utm_content=SOXHouse&utm_campaign=smartbrief

Holistic Risk

Article on 8 question to ask toward a holistic approach to risk.  http://www.journalofaccountancy.com/News/20126025.htm

A funny acronym that rhymes with GAAP

This article references that GAAP can sometimes be CRAP   (Cleverly Rigged Accounting Ploys).   The article is summarized at http://accounting.smartpros.com/x73821.xml

A Fraud quiz oriented to banking

From the Journal of  Accountancy  http://www.journalofaccountancy.com/Issues/2012/May/Fraud-IQ-20124994.htm

The questions and answers to the quiz are informative.

COSO release postponed to

first quarter 2013, to allow Board to look at comment letter.http://www.journalofaccountancy.com/News/20125621.htm 

AICPA on COSO

A whitepaper at http://www.aicpa.org/InterestAreas/FRC/AuditAttest/DownloadableDocuments/COSO/COSO-2012_Whitepaper.pdf

Congress, PCAOB, and auditor rotation

An amendment to Sarbanes-Oxley Act has been proposed to prevent the Public Company Accounting Oversight Board from requiring companies to rotate auditors. http://www.complianceweek.com/congress-moves-to-block-pcaob-on-auditor-rotation/article/233485/

Also see this letter where AICPA opposes mandatory audit rotation, so AICPA and PCAOB appear to disagree on this topic.http://www.aicpa.org/InterestAreas/ProfessionalEthics/Community/CommentLetters/DownloadableDocuments/aicpa-letter-pcaob-concept-release-mfr.pdf

This article from Journal of Accountancy covers related issues http://journalofaccountancy.com/Web/20125365.htm

Also panelists highlight issues http://www.cgma.org/Magazine/News/Pages/20125371.aspx