- Board and audit committees gain a greater understanding of SOC reporting and the value to their organizations in this concise tip sheet.
- Baker Tilly discusses key topics SOC issuers should consider as they perform their exams, along with focal points of user entities as they evaluate vendor’s SOC reports.
- The SEC said it will give broker-dealers additional time to comply with the third phase of its reporting rules for large traders. The securities industry wants the third phase of the reporting rules eliminated because they overlap with other reporting requirements.
- A working group of the PCAOB’s Investor Advisory Group (IAG) urged the PCAOB to update a standard related to an auditor’s consideration of a client’s illegal acts. The current standard has remained largely unchanged since it was issued in 1988, but the advisory panel said the world has changed since then.
- Organizations should carefully consider nonmonetary asset conversion and related insurance accounting as they account for the impact of a natural disaster on their properties.