Below a few of the reasons Florida CPA’s may find themselves facing Disciplinary Actions: Attempting to procure a license to practice public accounting by bribery or fraudulent misrepresentations. False or fraudulent advertising. Having a CPA license revoked, suspended, denied, or otherwise acted against by the licensing authority of another state, territory, or country. Any fraudulent […]
Tag Archives: PCAOB
15
Jan
PCAOB Disciplines Seven Audit Firms
The Public Company Accounting Oversight Board (PCAOB) announced disciplinary orders against seven audit firms for violating rules requiring that the auditors of brokers and dealers be independent of their audit clients were settled. According to the PCAOB, in the settlements, in addition to a censure, each firm agreed to undertake significant remedial measures, including: To establish […]
8
Jan
Financial Preparers Oppose the PCAOB’s Plan for More Disclosures
The PCAOB’s proposal requiring additional information in the auditors’ report, is facing opposition from the preparers of financial statements, industry organizations and audit committees. In a recent Journal of Accountancy article, they reported more than 60 companies posting letters on the PCAOP’s website expressing opposition to the proposed requirements for the auditor to include descriptions of “critical […]
19
Dec
Six Key Risk Factors for Auditors
In the recent edition of the Journal of Accountancy, the auditing of internal control over financial reporting, is listed as a topic that has received a lot of attention from the PCAOB this year, and is one of the key risk factors for the 2013 audit cycle, according to a new Center for Audit Quality (CAQ) alert. A […]
10
Sep
Changes to Auditor Reporting Standards Proposed by PCAOB
The Public Company Accounting Oversight Board (PCAOB) issued proposed modifications to auditor reporting standards on August 13, 2013. These proposals will follow the process, including concept release issued over two years ago, discussing possible changes to the standard auditor’s report that would provide more useful information to investors. The two new standards proposed by the PCAOB are: 1. addressing the content […]
22
Aug
PCAOB Calling for Additional Care in Audits of Brokers/Dealers
On the Journal of Accountancy’s website, Ken Tysiac writes that the PCAOB is urging auditors of broker/dealers to conduct audits with due professional care and skepticism after PCAOB inspectors identified deficiencies in 57 of the 60 audits of broker-dealers reviewed during the final 10 months of 2012. The independent findings were identified in about 8% […]
19
Aug
Obtaining a CPA License in Florida
The following information is from Florida’s Department of Business and Professional Regulation’s (DBPR) website under: Division of Certified Public Accounting. “ORIGINAL LICENSURE CPA Applicants must apply for licensure within three years of receiving notification from NASBA of passing the last part of the CPA exam. If an applicant does not apply for licensure within this three […]
14
Aug
A New Auditor’s Reporting Model is Being Considered by PCAOB
The PCAOB, Public Company Accounting Oversight Board, met August 13th., 2013, to consider proposing a new auditor’s reporting model as well as new auditor’s responsibilities for other information in an annual report that contains audited financial statements and the auditor’s report, writes Ken Tysiac for the Journal of Accountancy. These contents of the auditor’s report have been the […]
9
Jul
Public Company Accounting Oversight Board (PCAOB) on Integrity and Objectivity
The following is from the PCAOB’s website: The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports. The PCAOB also oversees the audits of broker and dealers, including compliance reports filed pursuant […]
10
Jun
What Powers Does the Public Company Accounting Oversight Board (PCAOB) Have?
The PCAOB has authority to investigate and discipline registered public accounting firms and persons associated with those firms for noncompliance with the Sarbanes-Oxley Act of 2002, the rules of the PCAOB and the Securities and Exchange Commission, and other laws, rules, and professional standards governing the audits of public companies, brokers, and dealers. When violations […]