May 4, 2018

Public Policy and Technical Alert, April 2018

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

  • PCAOB seeks input into its 2018-2022 strategic planning through a public survey
  • PCAOB Board Member DesParte sworn in
  • PCAOB posts updated standard-setting agenda

SEC

  • SEC Division of Corporation Finance updates C&DIs

FASB

  • FASB proposes targeted changes to collaborative arrangements standard

International

  • IOSCO seeks feedback on good practices to assist audit committees in supporting audit quality
  • IAASB seeks applications for new Chair
  • FRC to enhance monitoring of audit firms, updates sanctions guidance
  • ESMA reports on accounting enforcement activities in the EU in 2017
  • IESBA releases new Code of Ethics

Other Developments

  • SASB founder Jean Rogers to step down as Chair

CAQ

  • CAQ tool helps audit committees oversee implementation of new leases accounting standard
  • CAQ tool helps boards oversee cybersecurity risk management of public companies
  • CAQ and AAA Auditing Section announce awards for Access to Audit Personnel Program
  • CAQ issues new ‘Profession in Focus’ videos

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