Progress and issues toward COSO framework adoption

http://www.complianceweek.com/blogs/the-big-picture/dispatches-from-the-front-on-coso-implementation#.VBBqX_ldU2F This article discusses anecdotal evidence and matters pertaining to the progress for COSO. What does the adoption really mean to those implementing it

Audit committee disclosures

http://www.ey.com/Publication/vwLUAssets/ey-lets-talk-governance-august-2014/%24FILE/ey-lets-talk-governance-august-2014.pdf More companies disclosing this information. Related article at http://ww2.cfo.com/auditing/2014/09/fortune-100-disclosing-audit-committees/

PCAOB issues staff audit alert for revenue recogntion

http://www.journalofaccountancy.com/News/201410901.htm See this discussion in the article with a separate link to the audit alert. Revenue recognition, long noted as a source of critical importance during the audit.

Adopting the new COSO framework

http://www.complianceweek.com/blogs/accounting-auditing-update/auditors-may-disclose-companys-framework-choice-in-audit-reports#.VAzdA0jc2gc Firms adopting the new COSO framework are doing so for a number of reasons, per Deloitte & Touche alert. Auditors are to note in their audit reports if not adopting the current framework.

$300,000 whistleblower reward paid by SEC

http://ww2.cfo.com/regulation/2014/08/sec-dishing-300000-whistleblower-award-internal-auditor/ The reward was paid to an internal auditor who took actions when in-house management failed to act on the finding.

Group audits - component

http://www.journalofaccountancy.com/News/group-audits-201410712 This is the second article on group audits published by the Journal of Accountancy. This is a discussion of component materiality, and the qualitative considerations in determining materiality.

12 Principles of the Internal Audit Framework

http://www.journalofaccountancy.com/News/201410699.htm This is proposed guidance, along with a new mission statement. The 12 principles are seen to enhance internal audit effectiveness. Comments are due by Nov 3, 2014.