CAQ Public Policy and Technical Alert, June 2017

As part of the Center for Audit Quality’s ongoing effort to keep members and stakeholders informed on significant public policy and accounting matters, we are pleased to offer the Public Policy and Technical Alert (PPTA). Each month, the PPTA highlights and examines the regulatory, standard-setting, legislative, and broader financial reporting developments impacting the public company audit profession. Please note that the PPTA is intended as general information and should not be relied upon as being definitive or all-inclusive. The CAQ encourages member firms to refer to the rules, standards, guidance, and other resources in their entirety at the hyperlinks provided below. All entities should carefully evaluate which requirements apply to their respective organizations.

In This Issue:

• PCAOB adopts new auditor reporting standard
• PCAOB proposes standard on auditing accounting estimates
• PCAOB proposes amendments to standards for an auditor’s use of the work of specialists
• PCAOB solicits SAG nominations
• PCAOB publishes Staff Inspection Brief previewing the results of 2016 inspections of auditors of broker-dealers
• PCAOB publishes Staff Inspection Brief detailing scope of 2017 inspections of auditors of broker-dealers
• SEC names Division of Enforcement Co-Directors; Division of Corporation Finance Deputy Director
• SEC Division of Corporation Finance expands popular JOBS Act benefit to all companies
• FASB votes to proceed with final hedging standard
• FASB issues proposed ASUs
• IASB proposes amendments to IAS 16
• CAQ releases Form AP tool for audit committees
• CAQ urges auditor focus on disclosures of upcoming accounting changes
• CAQ posts highlights of March 2017 SEC Regulations Committee meeting
• CAQ issues new ‘Profession in Focus’ videos
• Anti-Fraud Collaboration hosts free CPE webcast on effective policies and internal control
• Upcoming Events