SEC Approves PCAOB Auditing Standard No. 7, Engagement Quality Review
 
(02/02/2010) On January 15, 2010, the Public Company Accounting Oversight Board (PCAOB) announced that the SEC approved PCAOB Auditing Standard No. 7, Engagement Quality Review.
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AICPA Issues TPAs on Subsequent Events
(01/26/2010) Accounting guidance for subsequent events in FASB ASC 855, Subsequent Events, requires companies to disclose in the footnotes the date through which they have evaluated subsequent events for inclusion or disclosure in the financial statements. Questions have arisen about the relationship between that date, the date of the management representation letter, and the report date. In addition, questions have arisen regarding the impact of FASB ASC 855 on the accountant's responsibilities for subsequent events in a compilation or review engagement.
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