AICPA, AAA, IAASB launch research project to better understand users' perceptions of auditor's report on financial statements.
The AICPA AICPA
See American Institute of Certified Public Accountants (AICPA). , the American Accounting Association and the International Auditing and Assurance Standards Board have joined forces to launch a research initiative that will provide a better understanding of users' perceptions of the financial statement audit and the auditor's report Auditor's Report
Recorded in the annual report, the auditor's report tests to see that a corporation's financial statements comply with GAAP. This is sometimes referred to as the clean opinion.
Most auditor's reports consist of three paragraphs. . The research is intended to independently examine the perceptions of users of financial statements in countries around the world.
A "Request for Proposal" was issued last month soliciting academic research to identify and provide information about such perceptions. The RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system.
1. (business) RFP - Request for Proposal.
2. can be downloaded from the IAASB IAASB International Auditing and Assurance Standards Board home page at www.iaasb.org.
The AICPA's Auditing Standards Board In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public has a current project to consider whether the auditor's report should be revised. The IAASB recently completed a project in this regard. The new research findings will provide important information that can be used as a basis for any future revisions to the auditor's report.
Research proposals must be submitted by Oct. 2, 2006, to Sharon Walker, Technical Manager, Audit and Attest Standards, AICPA, 1211 Avenue of the Americas, New York, NY 10036-8775. The ASB ASB Asbestos
ASB Arbeiter Samariter Bund (German medical help organisation)
ASB Anti-Social Behaviour
ASB Accounting Standards Board (UK FRC)
ASB Aarhus School of Business and IAASB will fund between $10,000 and $20,000 for each project. Researchers are required to submit a summary of results to the ASB and IAASB by Oct. 1, 2007, with a more detailed report to be provided to the boards by Jan. 7, 2008. The summary should be tailored toward practitioners, rather than readers of an academic journal. Researchers will have the right to publish the research, as long as the boards are given appropriate credit for research support provided.