Tenders are invited for Provision Of Electronic Work Paper
Only with access to work papers
of foreign public accounting firms can the SEC test the quality of the underlying audits and protect investors from the danger of accounting fraud," Robert Khuzami, the SEC's enforecment director, said in a statement.
This includes statutorily protected audit work papers created by independent public accounting firms in the course of an audit.
Two other bills pending in the legislature, HB 9 and SB 302, would make the work papers public record, though HB 9 would impact only future audits.
Tax Boot Camp is designed to prepare new staff of CalCPA members for tax season by providing hands-on training in return preparation, work paper
techniques, tax research and basic tax law.
There were two sets of records: the work papers developed by the accountant and used in determining the client's tax liability, and the taxpayer's personal books and records in the accountant's possession and used to calculate the taxpayer's taxes.
In examining the first group, the court held that an accountant's work papers were presumptively the property of the accountant rather than the taxpayer and were not within the scope of the privilege against self-incrimination.
With modules for risk assessment, planning, scheduling, work papers
, reporting, issue tracking, time and expenses, quality assurance and personnel records, AutoAudit is the most complete way to update an audit department.
Work papers may also be subpoenaed by a court as part of an investigation, as was done in the Coingate case.
State Auditor Betty Montgomery expressed her support for public access to IPA work papers, noting those produced by her staff are already open to the public.
Important factors that could cause actual results or events to vary materially include the Company's ability to gain access to its predecessor auditor's work papers
in a timely manner, delay in Ernst & Young LLP's review of the predecessor auditor's work papers
and internal delays in the filing of the 10-Q.
State Auditor Betty Montgomery expressed support for the provision, noting audit work papers
produced by her staff are already open to the public.
By the same token, work papers
also can be used by potential claimants to attempt to prove that you acted in some inappropriate manner, or that the engagement was not in compliance with standards.
Carnegie said the hearing will focus on the creation and existence of a second set of work papers
by Grant Thornton, the late production of the second set of work papers
by Grant Thornton, and the more than 150 material differences between those sets of work papers
(see "Judge `Temporarily Suspends' Trial in Carnegie's $2.
AB 2873 (Frommer), for example, contains language which expands the definition of work papers
, the length at which they must be kept and the presumption that if something isn't documented among the work papers
, it wasn't done and the burden of proof shifts to the CPA.