What is the AICPA's Roll 583
SOX-Migration last edited by
I thought that SOX ripped the AICPA’s authority away. Why are they still writing exposure drafts. Are they still relevent? Is PCAOB authorizing these new SAS standards? Where can I find guidence.
Denis last edited by
AICPA’s role is, more or less, unchanged.
angie last edited by
Can we sumarize as follows?
AICPA - issue standards in the accounting
PCAOB - issue standards in auditing (and I believe investigating teh
Does the PCAOB authority to investigate in the figures of listed firms, as SEC is allowed to ?
lekatis last edited by
The Sarbanes-Oxley Act of 2002 authorized the PCAOB to establish auditing and related professional practice standards.
The Board adopted as interim standards, on an initial, transitional basis, the generally accepted auditing standards, described in the American Institute of Certified Public Accountants’ (‘AICPA’) Auditing Standards Board’s Statement on Auditing Standards No. 95, Generally Accepted Auditing Standards, in existence on April 16, 2003.
(Public Company Accounting Oversight Board, Auditing Standard No. 1)
But, AICPA is behind COSO. COSO: Jointly sponsored by by the American Accounting Association, the American Institute of Certified Public Accountants (AICPA), Financial Executives International, The Institute of Internal Auditors, and the National Association of Accountants (now the Institute of Management Accountants).