• SSAP No. 101 update and Q&A observations

    Statement of Statutory Accounting Principles No. 101, Income Taxes, A Replacement of SSAP No. 10R and SSAP No. 10 (SSAP No. 101) was issued in August of 2011. This article series details the main changes to SSAP No. 101.
  • What are group audits and how might they affect my audit?

    In an effort to make US generally accepted auditing standards (GAAS) easier to read, understand, and apply, the Auditing Standards Board (ASB) undertook an effort to redraft all of the auditing sections in the Codification of Statements on Auditing Standards. This is also known as the Clarity Project. The ASB established drafting conventions and, among other improvements, the new standards more clearly specify the objectives of the auditor and the requirements with which the auditor has to comply when conducting an audit in accordance with GAAS.