News Roundup

March 3, 2017

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PCAOB Updates Guidance for New Audit Participant Form

The PCAOB has updated its staff guidance for auditing firms filing the new Form AP, in which firms are now required to disclose the names of engagement partners and other accounting firms that participated in audits.

Frightening Ways Your Office Tech Can Compromise Employee Data

Hackers can gain access to corporate information in some creative ways, including through companies' printers.

IRS Audit Traps & 5 Ways to Steer Clear

No one wants to fight with the IRS. But how do you avoid it? There are numerous theories for what-triggers-an-audit. Even so, there are some basic things you can do to reduce your chances of being selected, and to make any interactions with the IRS less traumatic.

IRS Announces Proposed Partnership Audit Regulations Which Impact LLCs and Partnerships

The IRS has released proposed regulations which provide that for tax years beginning after Dec. 31, 2017, all entities taxable as partnerships (including LLCs) will be subject to a centralized audit regime.

Artificial Intelligence Comes to Financial Statement Audits

Artificial intelligence advocates speak of a time when systems will audit 100% of a company’s financial transactions. But is AI in auditing a good idea?

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