[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-159713-105":59,"doc-detail-159713-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","audit-accounting-alert-issue-1-january-2024","Audit & Accounting Alert - Issue 1 - January 2024","","Audit & Accounting Alert Issue 1 (January 2024) outlines how the independent auditor’s role has evolved beyond examining financial statements. It explains how audit work supports tax compliance, operational and administrative advisory services, and improved efficiency through specific implementation suggestions. The update also summarizes recent international actions from standard-setting and professional bodies, covering amendments, trademark guidance implications, and recommendations affecting accounting and disclosures worldwide.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/audit-accounting-alert-issue-1-january-2024/159713/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/audit-accounting-alert-issue-1-january-2024/159713.png","ImageObject",300,407,{"name":92,"@type":93},"\tWilliam","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-17","2026-08-29",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",13,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What has changed in the independent auditor’s function over time?","Question",{"text":113,"@type":114},"The auditor’s work has expanded from examining financial statements for a fair opinion to providing expertise used for tax compliance and advising on operational and administrative matters.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How does audit work create value beyond assurance?",{"text":118,"@type":114},"By gaining familiarity with company operations, auditors can offer guidance that improves efficiency and effectiveness, often viewed as more valuable than the audit itself.",{"name":120,"@type":111,"acceptedAnswer":121},"What types of international updates are included in the Worldwide Update section?",{"text":122,"@type":114},"It provides summaries of recent and upcoming actions by auditing and accounting organizations worldwide, including standards amendments, guidance implications, and recommendations related to accounting and disclosures.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},159713,1788021604,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":29,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":130,"read_time":144,"preview_page_count":4},5909887254083,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","View in browser  \nISSUE 1 | JANUARY 2024  \nAt-A-Glance  \nThe function of the independent auditor has come a long way from the sole original role of examining a client’s financial statements to provide an opinion that they are fairly presented. Nowadays, the expertise the auditor gains from the audit is employed for tax compliance as well as for advising on a variety of operational and administrative matters This edition of the Audit & Accounting Alert highlights some of these.  \nAlso, our Worldwide Update covers news from organizations across the globe.  \nGerald Herter-Editor  \nThe Role of the Auditor  \nFrom reviewing records to providing advice  \nAs an auditor for a Big 4 (then Big 8) accounting firm for the first several years of my career, the first weeks in January were a last chance to catch my breath after yearend physical inventory observations and before the start of audit fieldwork. I recall the managing partner at a December holiday party advising auditor spouses to say farewell to their husbands and wives, since they would not be seeing much of them for the following few months.  \nAn occupational hazard for an auditor, the “busyâ€􀀀 season was also a great time for learning the trade, as the long hours were spent at a wide variety of businesses, observing how they operated, and assessing procedures and controls. The immediate goal of the audit, from sampling and testing the client records, was to provide assurance that the financial statements prepared from those records were fairly stated.  \nHowever, a natural side benefit from the process was that the auditor gained intimate familiarity with company operations. By considering the company’s efficiency and effectiveness when compared to the auditor’s many other clients, helpful guidance could be offered to assist the company. From the company’s standpoint, this guidance was often seen as more valuable than the audit. While the audit was required solely to satisfy lenders and investors, the information gained by the independent auditors put them in a position to help improve operations through specific suggestions for implementation.  \nThe audit was also a jumping off point for other services. The numbers produced could be analyzed and assembled for tax implications and filing requirements as well as for planning and structuring to optimize interactions with various tax regulations and jurisdictions. Seeking funding through lender financing and stock offerings is facilitated by production of accurate and complete financial statementsand supporting data. Employee benefit offerings can be planned and implemented using information from the accounting system and substantiated through the audit process as well.  \nA natural outgrowth of the audit process is assistance with the accounting and operational systems that keep a company running. A thorough understanding is needed in order to obtain the proper size and capacity of automated systems to assure current and future effectiveness of systems to keep up with the growth and direction of the company. The auditor’s experience with a wide variety of systems is an important attribute.  \nWhile well positioned to provide advisory services, the auditor needs to be prepared when opportunities present themselves. Supplementing audit expertise with courses and training in other aspects of organizational functions and management helps to broaden the ability to add value to the client.  \nFurther details can be found at The Role of Auditors in Company-Prepared Information: Present and  Future.   \nWorldwide Update  \nPeriodic roundup of recent and upcoming actions and activities by auditing and accounting organizations throughout the world.  \nInternational  \nIASB – International Accounting Standards Board ([www.ifrs.org](www.ifrs.org))  \n Amendments to the SASB Standards to enhance their international applicability, issued December 19, 2023. “to help preparers apply the SASB Standards regardless of the jurisdiction in whi","cbCaicwKHDYjoI87","https://ap.wps.com/l/cbCaicwKHDYjoI87","pdf",1678458,"English","# At-A-Glance\n## The Role of the Auditor\n## Worldwide Update\n### International","[{\"question\":\"What has changed in the independent auditor’s function over time?\",\"answer\":\"The auditor’s work has expanded from examining financial statements for a fair opinion to providing expertise used for tax compliance and advising on operational and administrative matters.\"},{\"question\":\"How does audit work create value beyond assurance?\",\"answer\":\"By gaining familiarity with company operations, auditors can offer guidance that improves efficiency and effectiveness, often viewed as more valuable than the audit itself.\"},{\"question\":\"What types of international updates are included in the Worldwide Update section?\",\"answer\":\"It provides summaries of recent and upcoming actions by auditing and accounting organizations worldwide, including standards amendments, guidance implications, and recommendations related to accounting and disclosures.\"}]","Audit & Accounting Alert - Issue 1 - January 2024 | PDF",15]