Browsing by Author "Feng, Nancy"
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Item Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on Framework for Audit Quality, Consultation Paper by the International Auditing and Assurance Standards Board(American Accounting Association, 2013) Demirkan, Sebahattin; Feng, Nancy; Mintchik, Natalia; Pevzner, Mikhail; Sierra, GregoryOn January 15, 2013, the International Auditing and Assurance Standards Board (IAASB) solicited public comments on the exposure draft of its consultation paper entitled A Framework for Audit Quality (the Framework). The four-month comment period ended on May 15, 2013. This commentary summarizes the contributors' views on this exposure draft (the exposure draft and related information are available at: http://www.ifac.org/publications-resources/framework-audit-quality). This consultation paper makes great strides toward meeting the IAASB's strategy of “enhancing the quality of assurance” and “supporting global financial stability.” The three-by-three design (attributes of audit quality coupled with engagement, firm, and national levels; see page 24 of the Framework) and detailed outline of inputs, outputs, context, and interactions provides practitioners, regulators, and other stakeholders with a common audit-quality roadmap for implementation, communication, and research agendas. As financial systems continue to become more integrated, the Framework supports the global financial system and economic stability by providing worldwide coordination of the expectations of auditors, regulators, investors, and other stakeholders. We also believe that the Framework should be of great use to auditing academics and doctoral students, both as a teaching and research tool. Summarized below are our specific comments on specific issues raised in the consultation paper.Item Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on International Standard on Auditing (ISA) 720 (Revised), The Auditor's Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor's Report Thereon: Participating Committee Members and Other Contributors(American Accounting Association, 2013) Feng, Nancy; Pevzner, Mikhail; Robertson, Jesse C; Yahya-Zadeh, MassoodOn November 14, 2012, the International Auditing and Assurance Standards Board (IAASB) solicited public comments on its exposure draft of the document entitled International Standard on Auditing (ISA) 720 (Revised), The Auditor's Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor's Report Thereon. The four-month comment period ended on March 14, 2013. This commentary summarizes the contributors' views on this exposure draft.Item Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on PCAOB Release No. 2013-002: Proposed Framework for Reorganization of PCAOB Auditing Standards and Related Amendments to PCAOB Auditing Standards and Rules(American Accounting Association, 2013) Feng, Nancy; Pevzner, MikhailOn March 26, 2013, the Public Company Accounting Oversight Board (PCAOB) solicited public comments on its exposure draft of the Proposed Framework for Reorganization of PCAOB Auditing Standards and Related Amendments to PCAOB Auditing Standards and Rules. The comment period ended on May 28, 2013. This commentary summarizes the contributors' views on this exposure draft (the exposure draft and other related information are available at: http://pcaobus.org/Rules/Rulemaking/Pages/Docket040.aspx).