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Audit Committee Brief

Overview of 2017 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.

December 2017

  • Highlights of the 2017 AICPA Conference on Current SEC and PCAOB Developments
  • CAQ tool outlines audit committee considerations for the auditor’s report
  • Tax reform continues to evolve
  • Anti-Fraud collaboration releases report on financial misconduct
  • Updated edition of "A roadmap to non-GAAP financial measures"
  • SEC appoints new chairman and board members to PCAOB
  • The new revenue standard – Are we there yet?
  • FASB tentatively decides to relieve entities from implementing certain aspects of the new leasing standard
Audit Committtee Brief - December 2017

November 2017

  • SEC approves PCAOB standard requiring changes to the auditor’s report
  • Ways and Means Republicans release detailed tax reform proposal
  • NACD calls on boards to take a proactive approach to culture oversight
  • CAQ releases 2017 Audit Committee Transparency Barometer
  • SEC comment letters — including industry insights (2017)
  • IFRS in your pocket 2017
  • SASB releases ESG disclosure standards
Audit Committee Brief - November 2017

October 2017

  • SEC details its approach to cybersecurity
  • Deputy chief accountant considers the role of audit committees in the implementation of new GAAP standards
  • SEC issues proposed rule to modernize and simplify certain Regulation S-K requirements
  • SEC issues new and revised guidance to clarify its CEO pay ratio rule
  • PCAOB issues supplemental request for comment on new requirements for a lead auditor’s use and supervision of other auditors
  • PCAOB issues audit practice alert related to the new revenue standard
  • FASB proposes amendments to the new leasing standard
  • SEC provides regulatory relief for entities affected by the recent hurricanes
  • User-friendly podcast: Deciphering the new revenue recognition standard
Audit Committee Brief - October 2017

September 2017

  • The CFO and the Audit Committee: Building an Effective Relationship
  • Preparation for new accounting standards among focus areas for PCAOB inspectors
  • COSO update highlights the importance of risk management in strategy
  • SEC chief accountant discusses advancing high-quality reporting in financial and capital markets
  • The New Revenue Standard: Are You Still Assessing the Impact?
  • Impacts of the new hedge accounting standard
Audit Committee Brief - September 2017

August 2017

  • Voluntary audit committee proxy disclosures continue to increase
  • Implementing the New Revenue Standard Raises Challenges Beyond Accounting
  • Video series examines Sarbanes-Oxley and audit committees
  • How artificial intelligence is reshaping the accounting profession
  • SEC opens comment period on the PCAOB’s changes to the auditor’s report
Audit Committee Brief - August 2017

July 2017

  • CAQ releases tool for audit committees: Form AP – Auditor Reporting of Certain Audit Participants
  • SEC Chairman Clayton outlines principles guiding his agenda
  • Conference addresses complexities of the new leasing standard
  • Highlights from the 2017 Deloitte Board Symposium
  • CAQ video examines critical audit issues, including internal control over financial reporting
  • PCAOB posts updated standard-setting agenda
  • SEC’s Teotia speaks on revenue recognition
Audit Committee Brief - July 2017

June 2017

  • PCAOB adopts changes to the auditor’s report
  • CAQ report explores key role for CPAs in addressing cybersecurity risk
  • Bricker discusses role of audit committees, auditors, and regulators in providing credible reporting
  • As sustainability takes root, finance takes notice
  • Culture and conduct risk: Elevating internal audit’s role
  • PCAOB issues proposals to enhance and strengthen requirements for auditing accounting estimates, including fair value, and to address the auditor’s use of the work of specialists
  • Implementing the new revenue standard — how do your disclosures stack up?
Audit Committee Brief - June 2017

May 2017

  • Senate confirms new SEC chairman
  • Rethinking the audit 
  • AICPA issues framework related to cybersecurity risk management
  • White House unveils largely familiar tax reform principles
  • SEC’s chief accountant: Issuers must address “other reporting” risks
  • PCAOB speeches highlight audit quality and the audit of the future
  • Frequently asked questions about the FASB’s new leases standard
  • Internal control considerations related to adoption of the new revenue recognition standard
Audit Committee Brief - May 2017

April 2017

  • 2016 Board Practices Report: A transparent look at the work of the board
  • Survey highlights added value from financial statement audits
  • SEC chief accountant remarks on the role and effectiveness of audit committees
  • CAQ releases updated external auditor assessment tool
  • Suggestions for improved audit committees and audit quality is report’s focus
  • Report addresses challenges for subjective, complex accounting areas
  • Data analytics shapes how internal auditors apply their skills
  • SEC emphasizes its continued focus on the new revenue standard
  • Adopting the new revenue standard - where do companies stand?
  • Federal court remands conflict minerals case to SEC
Audit Committee Brief - April 2017

March 2017

  • Forecasting revenue disclosure challenges
  • Examining SOX’s impact on financial restatements
  • President signs resolution to eliminate disclosure rule for resource extraction issuers
  • SEC seeks comments on required disclosures for bank holding companies
  • Inline XBRL format proposed
Audit Committee Brief - March 2017

February 2017

  • Highlights from Deloitte’s 2016 Audit Committee Symposium
  • Focusing on the risks that matter
  • New guidance on cyber risk oversight for directors
  • Making data a board agenda issue
  • ISG launches corporate governance framework for US listed companies
  • Investors take on non-GAAP measures
  • SEC acting chairman directs staff to reconsider conflict minerals guidance
  • SEC acting chairman requests feedback on implementation of pay ratio disclosure rule
  • Executive order sets out principles for financial regulatory reform
  • FASB simplifies measurement of goodwill impairment test
Audit Committee Brief - February 2017

January 2017

  • Voluntary audit committee proxy disclosures increase at a slow and steady pace
  • Agenda 2017: Revenue recognition, meet internal controls
  • All eyes on the next US administration
  • Artificial intelligence in the finance suite
  • A Roadmap to Accounting for Income Taxes
  • Accounting roundup: 2016 in review
  • Batch of new accounting rules expected in 2017
Audit Committee Brief - January 2017
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