PCAOB sets ambitious 2005 agenda.The PCAOB PCAOB Public Company Accounting Oversight Board has set an aggressive agenda for 2005, with as many as 11 new auditing standards in the works. The top priority for the year is setting ground rules governing the ability of accountants to offer tax services to their audit clients. [ILLUSTRATION OMITTED] Among other topics, the board is considering proposed auditing standards relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc : * Detection of and reporting on financial fraud; * The relative authority of auditing guidance in the PCAOB's interim auditing standards; * Communications with audit committees; * Engagement quality review; * Auditing related-party transactions Related-Party Transaction A business deal or arrangement between two parties who are joined by a special relationship prior to the deal. For example, a business transaction between a major shareholder and the corporation, such as a contract for the shareholder's company to perform ; * Consistency of application of generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting ; and * Use of confirmations in an audit. For more, visit www.pcaobus.org/News_and_Events/News/2004-11-17.asp. |
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