By MelissaHaun

AUD candidates take notice: The PCAOB released a detailed report this week on the disappointing findings from its audit inspections at various accounting firms. As an aspiring CPA, it is your due diligence to obtain the necessary skill sets to be an entry-level, engagement team auditor. Now is your opportunity to help improve the performance in audits of internal controls over financial reporting (ICFR) by studying your AUD materials, specifically PCAOB AS #5 An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements. You can be guaranteed, especially with the release of this report, that the AICPA will incorporate multiple test questions on the ICFR to ensure you are ready to prosper as an auditor and represent the profession.

To access the PCAOB’s report and read the article in the Journal of Accountancy, please visit: http://www.journalofaccountancy.com/News/20126978.htm