California auditors will no longer have to scramble to complete
their audit documentation prior to issuing an audit report. New Regs.
68.3 and 68.4 (pp. 15-16, CBA Regulations) took effect Aug. 1 and
correct differences between the California Board of Accountancy's
regulations on audit documentation and national audit documentation
standards.
The differences concerned when and how CPAs could delete
documentation from the audit file after the report has been released and
created confusion and potential consumer harm, since audit firms were
essentially forced to complete all deletions from the file on the day
the report was released.
Download the regs at www.dca.ca.gov/cba/regs/regs9.pdf.
who's next in line? of 1,400 CFOs surveyed, just 16 percent
have a successor lined up. - Robert Half Management Resources
COPYRIGHT 2007 California Society of Certified
Public Accountants Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2007, Gale Group. All rights
reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.