Public Policy and Technical Alert, November 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

• PCAOB publishes staff inspection brief previewing 2016 inspection findings
• PCAOB approves 2018 budget and 2017-2021 strategic plan
• Botic to replace Wilson as Director of International Affairs

SEC

• Division of Corporation Finance Chief Accountant Mark Kronforst to leave SEC
• SEC Enforcement Division issues report on priorities and FY 2017 results
• SEC Division of Corporation Finance updates C&DIs

FASB

• FASB makes decisions on leasing standard simplification
• Kroeker reappointed FASB vice chairman

International

• Monitoring Group seeks comments on reforms to the global audit standard-setting process

CAQ

• CAQ, Audit Analytics issue 2017 Audit Committee Transparency Barometer
• CAQ submits letter on PCAOB’s supplemental request for comment on the supervision of audits involving other auditors
• CAQ offers 2018 grants to fund auditing-related academic research
• CAQ posts highlights of July 2017 SEC Regulations Committee meeting
• Anti-Fraud Collaboration releases report on misconduct
• CAQ issues new ‘Profession in Focus’ videos

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