Monthly archives for November, 2015

FEI – Audit committee relationships key to success

FEI Daily reports from the Current Financial Reporting Issues Conference (CFRI) that audit committee members and audit committee chairs want and need more and better communication from finance managers and executives at their company. “I talk with the chief accounting officer or head of internal audit on a monthly basis,” Cyprus said. “I don’t want to […]

CPAs as Crime Fighters

This isn’t our usual fare, but we found it pretty fascinating. The Journal of Accountancy has a great article running on the CPA as a Criminal Pursuing Agent. Durkin was an FBI agent working undercover as he had a drink with known members of an organized crime group at a fancy restaurant in Los Angeles. […]

Accenture: The Finance Department as We Know it is Dead

Writing in CFO Magazine, David Axson, Managing Director of  Accenture’s Strategy, CFO & Enterprise Value practice tells us that the finance organization of the future will be nothing like that of  today: Finance 2020 — tomorrow’s digital finance organization — is a radical departure from the status quo. It deals in analytics and forward-looking decisions to […]

Acuitas: Failure to Assess Risk and Test Internal Controls the Main Causes of Audit Failure. Fair Value Measurement Deficiencies Remain Significant

Hat tip to CFO Magazine. Atlanta based consulting firm Acuitas recently released a survey of Fair Value Audit Deficiencies (pdf) covering the period 2009-2013.   The survey is based on an in depth analysis of PCAOB data from the same time period.    What they found is that Fair Value Measurement audit deficiencies continue to […]