Audit Practices of PricewaterhouseCoopers

2000 ◽  
Vol 19 (2) ◽  
pp. 176-182 ◽  
Author(s):  
Barry N. Winograd ◽  
James S. Gerson ◽  
Barbara L. Berlin
Keyword(s):  
The United States ◽  
International Federation ◽  
International Standards ◽  
Certified Public Accountants ◽  
American Institute ◽  
Distinctive Features ◽  
International Firms ◽  
New Development ◽  
Auditing Standards ◽  
Audit Approach

This paper discusses the development of the PricewaterhouseCoopers Audit Approach (PwCAA), identifies distinctive features of this approach, and provides information on new development areas. The discussion will provide a summary of each of these items and will focus on the distinctive features of the PwCAA. The article will not cover elements that appear to be consistent with other firm methodologies. Significant consistencies exist since all of the major international firms essentially operate under generally accepted auditing standards, i.e., the International Standards on Auditing (ISA) as established by the International Federation of Accountants. In the United States, they also comply with generally accepted auditing standards (GAAS) as established by the American Institute of Certified Public Accountants (AICPA).

scholarly journals Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on Proposed Statement on Standards for Attestation Engagements, Amendments to the Description of the Concept of Materiality

2019 ◽  
Vol 13 (2) ◽  
pp. C20-C22
Author(s):  
Sean Dennis ◽  
Denise Dickins ◽  
Christine E. Earley ◽  
Julia L. Higgs
Keyword(s):  
Financial Statements ◽  
Data Availability ◽  
Certified Public Accountants ◽  
American Institute ◽  
Economic Decisions ◽  
Auditing Standards ◽  
Public Accountants

SUMMARY In June 2019, the Auditing Standards Board (the Board) of the American Institute of Certified Public Accountants issued a request for comment on its Proposed Statement on Standards for Attestation Engagements, Amendments to the Description of the Concept of Materiality (the Proposal), which seeks to change the criteria for determining whether omissions or misstatements rise to the level of materially misstating financial statements from those that could reasonably be expected to influence economic decisions of a user, to those where there is a substantial likelihood that they would influence the judgment of a reasonable user. The comment period ends August 5, 2019. This commentary summarizes the participating committee members' views on feedback requested by the Board. Data Availability: The Proposal, including questions for respondents, is available at: https://www.aicpa.org/content/dam/aicpa/research/exposuredrafts/accountingandauditing/downloadabledocuments/20190605a/20190605a-ed-sas-ssae-materiality.pdf.

scholarly journals INTERNATIONAL STANDARDS OF STATE FINANCIAL CONTROL

2019 ◽  
pp. 123-127
Author(s):  
A. M. Kulish ◽  
Y. M. Ragulina
Keyword(s):  
European Union ◽  
The United States ◽  
Essential Elements ◽  
International Federation ◽  
International Standards ◽  
National Standards ◽  
Financial Control ◽  
The European Union ◽  
Association Agreement ◽  
Internal Auditors

In this work, the authors have examined the concept of “standards” and “standardization” relating to public finance and public financial control. It was recognized that national financial systems activities should be based on generally accepted international standards in order to enhance professionalism and efficiency. Attention was paid to the peculiarities of national standards of the United States of America and European Union countries, in particular the United Kingdom of Great Britain, Lithuania, Georgia. As part of the analysis of the Association Agreement on Public Internal Financial Control, it was determined that cooperation between Ukraine and the European Union, the European Atomic Energy Community, and their Member States takes place through harmonization with the following international standards: the Institute of Internal Auditors (EA IIA), The International Federation of Accountants (IFAC) and International Organisation of Supreme Audit Institutions (INTOSAI). Much attention was paid to the concept of public internal financial control developed by the European Commission to provide a viable model capable of assisting national governments in revising internal controls in the field of finance and modernizing them in accordance with international standards and best practice in countries- members of the European Union. The scope of the aforementioned concept, its essence, its main elements, and features was determined. The standards of the international organization INTOSAI were analyzed, containing the guiding principles of the audit activity, the peculiarities of their implementation and direction; the activities of the International Professional Association of Internal Auditors EC IIA (European Confederation of Institutes of Internal Auditing); standards developed by the International Federation of Accountants (IFAC); the activities of the Committee of Sponsoring Organizations of the Treadway Commission COSO. In addition, the article identified the essential elements of an efficient and effective internal financial control system. Keywords: standardization, state financial control, international standards.

The Center Cannot Hold: The AICPA and Accounting Professional Leadership 1997–2013

2015 ◽  
Vol 29 (3) ◽  
pp. 485-506 ◽  
Author(s):  
R. Drew Sellers ◽  
Timothy J. Fogarty ◽  
Larry M. Parker
Keyword(s):  
Network Analysis ◽  
Longitudinal Data ◽  
Certified Public Accountants ◽  
American Institute ◽  
Trade Associations ◽  
International Firms ◽  
Integral Role ◽  
Leadership Structure ◽  
Public Accountants ◽  
Professional Leadership

SYNOPSIS Trade associations should play an integral role in defining and defending the legitimacy and jurisdiction of a profession. In addition, they should provide a field upon which individuals can rise above the confines of their organizations and grow their professional leadership capacities. Evidence in the literature suggests that U.S. accounting conformed to this pattern under the auspices of the American Institute for Certified Public Accountants (AICPA). However, various recent events have transpired that reduce the confidence that this continues to be the case. Using network analysis on longitudinal data from 1997 to 2013, this paper documents an increasingly fragmented and isolated leadership structure. This finding suggests the reduced influence of the AICPA. Surprisingly, this decline has not been offset by the stronger influences of the large international firms. Implications for the profession are discussed.

Elmer G Beamer and the American Institute of Certified Public Accountants: The pursuit of a cognitive standard for the accounting profession

2016 ◽  
Vol 23 (1-2) ◽  
pp. 71-92 ◽  
Author(s):  
Martin E Persson ◽  
Vaughan S Radcliffe ◽  
Mitch Stein
Keyword(s):  
United States ◽  
Professional Education ◽  
Ad Hoc ◽  
The United States ◽  
Certified Public Accountants ◽  
American Institute ◽  
Public Practice ◽  
Sociology Of Professions ◽  
Body Of Knowledge ◽  
Public Accountants

This article investigates Elmer G Beamer’s (1909–2000) activities at the American Institute of Certified Public Accountants (AICPA) during a 30-year period beginning in the 1950s, using a theoretical lens from the sociology of professions literature. Beamer was born in Cincinnati, Ohio, in 1909 and trained as an accountant with Haskins & Sells after graduating from high school. He stayed with the same firm throughout his career and rose to the position of partner. While in public practice, Beamer gave unselfishly of his time to the profession. As a member of the AICPA, Beamer chaired the Committee on the Common Body of Knowledge of CPAs (Certified Public Accountants), Committee on Education and Experience Requirements, and the Ad Hoc Committee on Continuing Education. The goal of the three committees was to establish a common body of knowledge for accountants in public practice. Beamer’s efforts resulted in the 150 credit-hour requirements for CPAs and the mandate for yearly continuing professional education for accountants to maintain an active CPA license in the United States. The article draws on archival material from the Elmer G. Beamer Papers Collection at the University of Florida. The collection contains over 500 items of Beamer’s personal correspondence, committee memorandums, and writings. The article concludes with a discussion of the empirical narrative and Beamer’s role in the larger context of the professionalization of the accounting discipline in the United States.

scholarly journals Perspectiva y futuro de la contaduría pública. Un análisis crítico-reflexivo. Caso de estudio de la Universidad de Guanajuato

2017 ◽  
Vol 11 (22) ◽  
Author(s):  
Héctor Fabián Gutiérrez Rangel ◽  
Betzabeth Dafne Morales
Keyword(s):  
National Level ◽  
International Federation ◽  
Quality Of Education ◽  
Certified Public Accountants ◽  
American Institute ◽  
Minimum Requirements ◽  
Competency Based ◽  
Public Accountants ◽  
Common Content

Keywords: aptitude, competencies, skills, educational modelAbstract. In recent years various institutions at national and international levels have conducted research on the prospects and future of the Public Accounting, a study published in July 2012 by the Pathway Committee composed of the American Accounting Association (AAA) and the American Institute of Certified Public Accountants (AICPA) issued a report on the future of Accounting and makes recommendations to the institutions that offer the program with the aim of contributing to a better quality of education and training of new generations of CPAs. The University of Guanajuato has adopted a competency-based educational model that follows the trends of educational institutions at international and national level in order to meet the demands required by an increasingly competitive and globalized environment, this reserach gears towards conducting a critical reflective analysis for the case of the program in Accounting, which detect similarities and differences according to the recommendations of the commission Pathways and the minimum requirements necessary for the graduate profile project required by the European Common Content project (2013) for graduates in Accounting. Mexico has involvement with these institutions trough he Mexican Institute of Public Accountants (MIPA), which works in coordination with the International Federation of Accountants (International Federation Accountants, IFAC) that has worked within these committees in order to contribute to a better quality of education in the accounting professionPalabras clave: aptitudes, competencias, habilidades, modelo educativoResumen. En los últimos años diversas instituciones a nivel nacional e internacional han realizado diversas investigaciones sobre las perspectivas y futuro de la Contaduría Pública, un estudio publicado en julio de 2012 por la Comisión Pathway conformada por la American Accounting Association (AAA) y el American Institute of Certified Public Accountants (AICPA) emitió un informe sobre el futuro de la Contaduría Pública y las recomendaciones que realiza a las instituciones que ofertan dicho programa con la finalidad de contribuir a una mejor calidad educativa y a la formación de nuevas generaciones de Contadores Públicos. La Universidad de Guanajuato ha adoptado un modelo educativo basado en competencias siguiendo las tendencias educativas que marcan las instituciones a nivel internacional y nacional, por lo que esta investigación tiene el propósito de realizar un análisis crítico reflexivo para el caso del programa de Contador Público en el cual se detectará las similitudes y diferencias de acuerdo a las recomendaciones de la comisión Pathways y los requerimientos mínimos necesarios sobre el perfil de egreso que exige el proyecto europeo Common Content Project (2013) para los egresados en Contaduría Pública en aras de cubrir las demandas que exige un contexto cada vez más competitivo en un entorno globalizado. México cuenta con participación ante estas instituciones a través del Instituto Mexicano de Contadores Públicos, A.C. (IMCP), el cual trabaja de manera coordinada con la Federación Internacional de Contadores (International Federation Accountants, IFAC) con presencia ante dichos organismos en aras de contribuir a una mejor calidad educativa en la profesión contable.

scholarly journals Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on Proposed Statement on Auditing Standards (SAS), Audit Evidence

2019 ◽  
Vol 14 (1) ◽  
pp. C1-C9
Author(s):  
Veena Looknanan Brown ◽  
Denise Dickins ◽  
Dana R. Hermanson ◽  
Julia L. Higgs ◽  
J. Gregory Jenkins ◽  
...  
Keyword(s):  
Data Analytics ◽  
Information Sources ◽  
Data Availability ◽  
External Information ◽  
Certified Public Accountants ◽  
American Institute ◽  
Professional Skepticism ◽  
Audit Data ◽  
Audit Evidence ◽  
Auditing Standards

SUMMARY On June 20, 2019, the American Institute of Certified Public Accountants Auditing Standards Board (the Board or ASB) issued a request for comment on its Exposure Draft, Proposed Statement on Auditing Standards, Audit Evidence. Enhancements in the proposed SAS include the use of emerging technologies by both preparers and auditors, audit data analytics, the application of professional skepticism, and the expanding use of external information sources as audit evidence. The comment period ended on September 18, 2019. This commentary summarizes the participating committee members' views on selected questions posed by the ASB. Questions not addressed by the committee are listed at the end of this manuscript. Data Availability: Proposed Statement on Auditing Standards (SAS), Audit Evidence, including questions for respondents, is available at: https://www.aicpa.org/content/dam/aicpa/research/exposuredrafts/accountingandauditing/downloadabledocuments/20190620a/20190620a-ed-sas-audit-evidence.pdf

ALVIN R. JENNINGS: MANAGING PARTNER, POLICY-MAKER, AND INSTITUTE PRESIDENT

2015 ◽  
Vol 42 (1) ◽  
pp. 85-104 ◽  
Author(s):  
Martin E. Persson ◽  
Vaughan S. Radcliffe ◽  
Mitchell Stein
Keyword(s):  
Policy Maker ◽  
Certified Public Accountants ◽  
American Institute ◽  
Academic Field ◽  
Accounting Research ◽  
Public Accountants

Alvin R. Jennings (1905–1990) was a rare breed of an accountant. He was trained as a practitioner and rose to become a managing partner at Lybrand, Ross Bros. & Montgomery, but he kept a constant watch on the academic field of accounting research. Jennings served on the influential American Institute of Accountants' Committee on Auditing Procedure (1946–49) and later as the president of the American Institute of Certified Public Accountants (1957–58). This paper explores these activities and Jennings' contribution to the professional, academic, and institution discourse of the accounting discipline.

DIGITIZING THE ACCOUNTING HISTORIANS JOURNAL: A SHORT HISTORY

2006 ◽  
Vol 33 (2) ◽  
pp. 157-168 ◽  
Author(s):  
Royce D. Kurtz ◽  
David K. Herrera ◽  
Stephanie D. Moussalli
Keyword(s):  
Full Text ◽  
Certified Public Accountants ◽  
University Of Mississippi ◽  
Short History ◽  
American Institute ◽  
Federal Grant ◽  
Public Accountants ◽  
The University ◽  
Copyright Permission

The University of Mississippi Library has digitized the Accounting Historians Journal from 1974 through 1992, cover-to-cover. The American Institute of Certified Public Accountants' gift of their library to the University of Mississippi was, fortuitously, the impetus for the AHJ digitizing project. A complicated chain of events followed which included discussions with the Academy of Accounting Historians for copyright permission, an application for a federal grant, negotiations with software vendors, and decisions about search capabilities and display formats. Each article in AHJ is now full-text searchable with accompanying PDF page images.

EARLY ENCOUNTERS BETWEEN CPAs AND THE SEC*

1979 ◽  
Vol 6 (1) ◽  
pp. 29-37 ◽  
Author(s):  
John L. Carey
Keyword(s):  
Vice President ◽  
Gold Medal ◽  
Certified Public Accountants ◽  
American Institute ◽  
Public Accountants

The recollections of John L. Carey about the policies and politics in professional circles during the very important period when the Securities Exchange Commission first came into being. Mr. Carey served the American Institute of Certified Public Accountants in various capacities from 1925 to 1969, including editor of The Journal of Accountancy and Administrative Vice-president, and received the Institute's gold medal for distinguished service to the profession.

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