How To Develop Your Skill For Great Success And Happiness Including Become CPA? | Additional special tips From Admin
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Strategies for quality work in single audits
Like many members of the CPA profession, single audit practitioners will be managing a change process while maintaining an intense focus on quality.
The change coming soon is the imminent release of updated Generally Accepted Government Auditing Standards, also known as the Yellow Book. The updated Yellow Book may be issued as early as next month and will need to be studied carefully by single audit practitioners and their clients.
With CPAs awaiting that guidance, a summary of takeaways from single audit sessions at the AICPA Not-for-Profit Industry Conference last week provided important reminders for practitioners. When providing the summary, Laurie De Armond, CPA, national nonprofit and education practice leader for BDO USA LLP, emphasized the responsibility that CPA practitioners have as they perform single audits.
“Focus on quality,” De Armond said. “… Maintaining the quality of the single audit really gets back to the reputation of the CPA profession, and it’s just really important for us to focus on quality.”
De Armond’s tips are listed below:
During this period of change, De Armond said, it remains important for CPAs to maintain their reputation as trusted professionals. If that trust is broken, it’s costly and time-consuming to repair. But rising to the challenge of improving single audit quality in this challenging environment can cement the trust the public places in CPAs.
“We need to have trust to be seen as trusted business advisers,” she said. “I think this advice really is very appropriate for the auditors in the room as well as financial executives.”
— Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.
Research & References of Strategies for quality work in single audits|A&C Accounting And Tax Services
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A note for you if you pursue CPA licence, KEEP PRACTICE with the MANY WONDER HELPS I showed you. Make sure to check your works after solving simulations. If a Cashflow statement or your consolidation statement is balanced, you know you pass right after sitting for the exams. I hope my information are great and helpful. Implement them. They worked for me. Hey.... turn gray hair to black also guys. Do not forget HEALTH?
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