Audit Committee Brief

Overview of all 2016 newsletters

Audit Committee Brief is Deloitte's publication for audit committee members. It provides recommendations, overviews of corporate governance resources, regulatory and legislative environment outlooks and technical updates.

Issue 24 - December 2016
  • Highlights of the 2016 AICPA conference on current SEC and PCAOB developments
  • Publication helps audit committees prepare for revenue recognition standard
  • CAQ issues Non-GAAP financial measures: Continuing the conversation
  • PCAOB’s Standing Advisory Group discusses best practices for effective auditor and audit committee communication
  • Risky business: SEC focuses on internal controls
  • Tax policy decisions ahead: Impact of the 2016 elections
  • SEC issues report on the modernization and simplification of Regulation S-K
  • FASB proposes amending the scope of modification accounting for share-based payment arrangements
Audit Committee Brief - December 2016
Issue 23 - November 2016
  • More information available to investors on audit committee oversight of auditor
  • Non-GAAP and company control
  • An important partnership between the PCAOB and audit committees
  • Video examines the audit committee’s oversight of the external auditor
  • Driving innovation in accounting and auditing
  • SEC comment letters - Statistics according to “Edgar”
Audit Committee Brief - November 2016
Issue 22 - October 2016
  • Minding the non-GAAP measures
  • Fireside chat on financial reporting of non-GAAP measures
  • SEC reminds registrants of leading practices for implementing new standards
  • Cybersecurity risk management initiative
  • PCAOB’s agenda indicates auditor’s reporting model in final draft 
  • A roadmap to applying the new revenue recognition standard
Audit Committee Brief - October 2016
Issue 21 - September 2016
  • Deloitte issues roadmap on non-GAAP financial measures
  • Intercompany accounting becomes a growing focus of regulatory authorities
  • Skill gaps and lack of influence concern chief audit executives
  • Audit inspections show some improvements in internal control audits
  • Sustainability reporting adds up to real numbers
  • Thinking allowed: The new lease accounting
  • FASB issues guidance on cash flow classification
  • A roadmap to consolidation - Identifying a controlling financial interest
Audit Committee Brief - September 2016
Issue 20 - August 2016
  • CEOs see realistic public reporting as an integral component of good corporate governance
  • Controls and non-GAAP measures
  • SEC proposes to eliminate outdated, duplicative disclosure requirements
  • CFO Insights: Seven hidden costs of a cyberattack
  • FASB proposes improvements to income tax disclosure requirements
  • PCAOB issues a staff inspection brief on the scope and objectives of 2016 auditor inspections
Audit Committee Brief - August 2016
Issue 19 - July 2016
  • CAQ issues publication on non-GAAP measures
  • Financial reporting considerations related to the UK’s vote to leave the EU
  • SEC chair focuses on board diversity, non-GAAP financial measures and sustainability
  • Internal controls face heightened scrutiny and more documentation
  • SEC proposes disclosure-related updates and simplification
  • FASB issues final standard on accounting for credit losses
  • FASB tentatively decides on income tax disclosure requirements
  • SEC issues final rule on resource extraction disclosures
Audit Committee Brief - July 2016
Issue 18 - June 2016
  • Mind the non-GAAP
  • Improvements to audit committee composition discussed at forum
  • Few companies say they are prepared for FASB’s new leasing rule
  • IOSCO releases results of survey on oversight of auditors
  • PCAOB re-proposes changes to the auditors’ report
  • SEC adopts interim final rule on summaries in Form 10-K annual reports
Audit Committee Brief - June 2016
Issue 17 - May 2016
  • A snapshot of the FASB’s new lease accounting standard
  • SEC staff discusses reporting considerations related to the new revenue standard
  • Core principles of high-quality ethics and compliance programs identified in ECI report
  • Driving innovation in audit
  • PCAOB reproposes changes to the auditors’ reporting model
  • PCAOB issues staff inspection briefs 
  • PCAOB issues proposal for audits involving other auditors
Audit Committee Brief - May 2016
Issue 16 – April 2016
  • CAQ report highlights evolving role of the audit committee around the world
  • Top 10 questions to ask when using a non-GAAP measure
  • SEC seeks comments on disclosure requirements in Regulation S–K
  • Inspections show high compliance with PCAOB audit committee communication rules
  • PCAOB seeks feedback on engagement quality review standard
  • PCAOB posts updated standard-setting agenda
Audit Committee Brief - April 2016
Issue 15 – March 2016
  • Audit committees discuss the growing demand for disclosure
  • Understanding cybersecurity and the external audit
  • Interacting with audit committees: The way forward for internal audit
  • SEC outlines priorities at annual conference
  • Reaching a consensus on management review controls
  • COSO ERM update will seek to elevate risk discussions
  • CAQ videos examine critical issues, including PCAOB priorities
  • FASB’s new standard brings most leases onto the balance sheet
Audit Committee Brief - March 2016

Issue 14 – February 2016

  • SEC director highlights the continued focus on enforcement and gatekeepers
  • BlackRock CEO and the SEC address long-term views
  • Disclosures of audit committees’ role increasing
  • IIA seeks to raise bar on internal audit practices
  • A year in review from the Center for Audit Quality
  • Recent FASB updates
Audit Committee Brief - February 2016

Issue 13 - January 2016

This issue of the Audit Committee Brief  includes highlights on the following topics: 

  • Audit committee workloads complicate the search for qualified candidates
  • Chairman Golden addresses the FASB’s 2016 priorities
  • Center for Audit Quality report provides insights on audit quality indicators (AQIs)
  • Regulators suggest doubling down on internal controls
  • PCAOB posts updated standard-setting agenda
  • Accounting Roundup: Year in Review
  • PCAOB requires disclosure of engagement partner and other audit participants
Audit Committee Brief - January 2016
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