Each year, companies and their outside accountants have to deal with various new auditing, review, and compilation standards. Often, these standard are issued a couple of years in advance of being effective. The earlier that companies and their outside accountants are aware of the standards and their effect, the earlier that companies can ready their financial reporting systems to be ready to respond to an outside accountant’s requests, thus possibly aiding in a more efficient engagement with the outside accountant. This presentation will take an overview of the standards issued so far this year to help companies, and their outside accountants, understand coming changes.
Identify changes in attest audit standards, and identify circumstances in which they apply.
Steven Morrison, CPA, is a principal in the Audit Department at MBAF and works with both public and private companies in various industries including those with international operations. Steven is active in the planning and execution of audit engagements bringing experience in a variety of industries including automotive dealerships, freight forwarding/mail courier, retail, and wholesale/distribution. Steven also addresses specific issues for companies in a variety of other industries and has experience in effectively communicating simple and complex technical matters to all levels of personnel at clients. His responsibilities also include advising engagement teams on accounting and auditing matters. He is a member of the AICPA’s Auditing Standards Board, a senior committee for auditing, attestation and quality control applicable to the performance and issuance of audit and attestation reports for non-issuers. The board’s responsibilities include developing, updating and communicating comprehensive standards and practice guidance that enable practitioners to provide high-quality objective audit and attestation services in an effective and efficient manner. Previously, he was a member and chair of the Florida Institute of CPAs Accounting Principles and Auditing Standards Committee which develops responses to exposure drafts of various authoritative accounting and auditing bodies such as the AICPA, FASB, and PCAOB. Also, he was previously a member of the AICPA National Advanced Accounting and Auditing Technical Symposium (NAAATS) Steering Committee.
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