Each year, companies and their outside accountants have to deal with various new auditing, review, and compilation standards. Often, these standard are issued a couple of years in advance of being effective. The earlier that companies and their outside accountants are aware of the standards and their effect, the earlier that companies can ready their financial reporting systems to be ready to respond to an outside accountant’s requests, thus possibly aiding in a more efficient engagement with the outside accountant. This presentation will take an overview of the standards issued so far this year to help companies, and their outside accountants, understand coming changes.
Understand recent attest standards.
Proactively identify the circumstances where the standards are applicable.
CohnReznick
Partner, National Assurance
[email protected]
(646) 601-7740
Steven Morrison is the National Director of Audit at CohnReznick bringing experience as a client service engagement partner, quality control reviewer, and as a standard setter. He has worked with entities in a variety of industries, including automotive dealerships, employee benefit plans, freight forwarding/mail courier, not-for-profit, retail, and wholesale/distribution. His experience encompasses effectively addressing unique accounting and audit issues of entities in the United States, Asia, Europe, Oceania, and the Americas. Steven addresses specific issues for companies in a variety of other industries and has extensive experience in effectively communicating simple and complex technical matters to all levels of personnel. His current responsibilities include firm methodology and consulting on complex accounting, auditing, attestation, and reporting matters.
From 2015 to 2018, he served on the AICPA Auditing Standards Board (ASB), a senior committee that promulgates U.S. Generally Accepted Auditing Standards. Currently, he is a member of the PCAOB’s Standards and Emerging Issues Advisory Group (SEIAG) which advises on existing standards, proposed standards, potential new standards, and on matters other than standards, such as emerging issues, that are of significance to the PCAOB in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports.