Audit Quality

A commitment to excellence and protecting the public are defining qualities of what it means to be a CPA. However, despite the hard work of the CPA profession, there have been challenges to maintaining audit quality, especially in specialized industries. The Department of Labor has released a report showing significant audit failure rates in employee benefit plan audits.

Quality is a core tenet of what CPAs stand for and we want to help you and your team maintain that strong commitment to excellent work. OSCPA and the AICPA are working together to identify both near and long-term solutions to ensure quality audit work in all cases.

Read the latest developments here and take advantage of OSCPA member resources to ensure your team is using best practice standards to conduct high-quality engagements.

Latest news on Audit Quality:

  • Dec 04, 2018

    Employee Benefit Plan Audit Conference

    Attend the 2019 EBPA Conference to focus on the above plus receive direct interaction with the U.S. Department of Labor (live or via webcast).
  • Apr 28, 2016

    DOL chief accountant: Do what you do best

    Improving audit quality begins with auditors sticking to what they do best, the U.S. Department of Labor’s top accountant told a crowd last week at an OSCPA event.
  • Mar 10, 2016

    Audit quality indicators up for debate

    Audit quality indicators have been a popular discussion topic for years, and last year the Public Company Accounting Oversight Board issued a Concept Release seeking public comment on a group of AQIs.
  • Jan 22, 2016

    Profession debates audit quality indicators

    The Public Company Accounting Oversight Board on June 30 issued a Concept Release seeking public comment on a group of potential audit quality indicators (AQIs).
  • Aug 06, 2015

    Audit quality — what happens next?

    In the July/August issue of CPA Voice, OSCPA’s Laura Hay, CPA, CAE, explains how financial statement audit quality is critical in allowing CPAs to uphold public trust in the profession.