Trying to clarify the clarified audit standards

 in this discussion at http://blog.aicpa.org/2012/10/clarifying-clarified-auditing-standards-on-group-audits.html

Board seats - CFOs

This article from the Wall Street Journal discusses the push for independent directors
http://online.wsj.com/article/SB10000872396390443624204578058642536086764.html?mod=djem_jiewr_AC_domainid

Compromise Agreement for PCAOB

to "observe" audits in China, a step back from the desired full inspection.  An incremental policy making approach.  http://www.reuters.com/article/2012/10/09/tax-pcaob-china-idUSL1E8L9GOP20121009

Steps to detect fraudulent financial reporting

are discussed in this article.   I like the one about the skeptics on the Board.   I believe the role of devil's advocate is an important one to bring to the board group, to keep people alert and focused on issues that may emerge.  Consider rotating the skeptic's role, so the skeptic doesn't become labeled a rebel rouser!  http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2012/CPA/OCT/FraudDetectionPrevention.jsp

PCAOB and Chinese firm inspections

Some agreements to move ahead in a sort of trust building exercise.  http://www.accountingtoday.com/news/pcaob-china-audit-firm-inspections-64051-1.html

White paper released on financial statement

preparation being a non-attest service.  http://blog.aicpa.org/2012/09/why-financial-statement-preparation-is-proposed-to-be-a-nonattest-service.html

Fraud reports amongst employees

is climibing.  http://www3.cfo.com/article/2012/9/regulation_fraud-whistleblower-sec-jimmy-lin-jonny-frank