Printer Friendly

AICPA, AAA, IAASB launch research project to better understand users' perceptions of auditor's report on financial statements.

The 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. 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 can be downloaded from the IAASB home page at

The AICPA's Auditing Standards Board 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 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.
COPYRIGHT 2006 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:CPA Letter
Date:Sep 1, 2006
Previous Article:Disciplinary actions.
Next Article:More free PCPS Practice Management Forums coming this fall.

Related Articles
The new auditor's report.
Arthur Levitt addresses "illusions".
AICPA seminars. (CPE news).
CPAs as Audit Committee members: be part of the new vanguard in corporate governance.
Materiality considerations: audits of government financial statements just got more complex.
A year of renewal and reforms.
Special feature: the year in review.
The new world of auditing standards: a conversation with the ASB.
AICPA annual report for 2005-2006 posted to Web site.
AICPA initiatives for members: an update.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters