Audit Committee Brief

A periodic publication that provides audit committee members with recommendations, overviews of corporate governance resources, regulatory and legislative environment outlooks, and technical updates.

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Latest editions

January 2018

This issue revisits 2017 developments that should remain points of focus for audit committees in the new year:

  • Tax reform
  • The PCAOB’s new auditor reporting model
  • Adoption of the new GAAP standards
    • Leasing standard, ASU 2016-02
    • Revenue standard, ASC 606
    • Financial instruments – credit losses, ASU 2016-13
  • Risk oversight
  • Increased audit committee disclosure

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

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
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