Interview with IASB Chair<br />
David Tweedie<br />
Bringing the World Together on One Standard<br />
<br />
<br />
· Auditing Risky Clients · Dodd-Frank Act for CPAs<br />
· IRS Access to WorkpapersC ONTENTS<br />
october 2010<br />
<br />
<br />
<br />
<br />
24 Accounting & Auditing<br />
❙ Accounting<br />
Foreign Currency Forward Contracts and Cash<br />
Flow Hedging: Navigating Accounting and<br />
Disclosure Requirements<br />
By Josef Rashty and John O'Shaughnessy<br />
<br />
❙ Auditing<br />
Guidance on Auditing High-Risk Clients<br />
By Jill M. D'Aquila, Kim Capriotti,<a title="The CPA Journal - October 1, 2010 page 1" href="http://viewer.zmags.com/publication/ed06b1bd?page=1">Interview with IASB ChairDavid TweedieBringing</a> Interview with IASB ChairDavid TweedieBringing<a title="The CPA Journal - October 1, 2010 page 2" href="http://viewer.zmags.com/publication/ed06b1bd?page=2"></a> <a title="The CPA Journal - October 1, 2010 page 3" href="http://viewer.zmags.com/publication/ed06b1bd?page=3"></a> <a title="The CPA Journal - October 1, 2010 page 4" href="http://viewer.zmags.com/publication/ed06b1bd?page=4">C ONTENTSoctober 2010 </a> C ONTENTSoctober 2010 <a title="The CPA Journal - October 1, 2010 page 5" href="http://viewer.zmags.com/publication/ed06b1bd?page=5">vol. LXXX/no.10</a> vol. LXXX/no.10<a title="The CPA Journal - October 1, 2010 page 6" href="http://viewer.zmags.com/publication/ed06b1bd?page=6"> PublisherJOANNE S. BARRY </a> PublisherJOANNE S. BARRY <a title="The CPA Journal - October 1, 2010 page 7" href="http://viewer.zmags.com/publication/ed06b1bd?page=7"></a> <a title="The CPA Journal - October 1, 2010 page 8" href="http://viewer.zmags.com/publication/ed06b1bd?page=8">Improving audit Quality by Strengthening the PCAOB</a> Improving audit Quality by Strengthening the PCAOB<a title="The CPA Journal - October 1, 2010 page 9" href="http://viewer.zmags.com/publication/ed06b1bd?page=9">Publisher’s Column: Auditing the State Comptroll</a> Publisher’s Column: Auditing the State Comptroll<a title="The CPA Journal - October 1, 2010 page 10" href="http://viewer.zmags.com/publication/ed06b1bd?page=10">Improving audit Quality by Strengthening the PCA</a> Improving audit Quality by Strengthening the PCA<a title="The CPA Journal - October 1, 2010 page 11" href="http://viewer.zmags.com/publication/ed06b1bd?page=11">Improving audit Quality by Strengthening the PCA</a> Improving audit Quality by Strengthening the PCA<a title="The CPA Journal - October 1, 2010 page 12" href="http://viewer.zmags.com/publication/ed06b1bd?page=12">Did Modern Portfolio Theory Fail Investors in the </a> Did Modern Portfolio Theory Fail Investors in the <a title="The CPA Journal - October 1, 2010 page 13" href="http://viewer.zmags.com/publication/ed06b1bd?page=13"> Did Modern Portfolio Theory Fail Investors in </a> Did Modern Portfolio Theory Fail Investors in <a title="The CPA Journal - October 1, 2010 page 14" href="http://viewer.zmags.com/publication/ed06b1bd?page=14">Did Modern Portfolio Theory Fail Investors in the </a> Did Modern Portfolio Theory Fail Investors in the <a title="The CPA Journal - October 1, 2010 page 15" href="http://viewer.zmags.com/publication/ed06b1bd?page=15">How to Increase Diversity in the Profession, Evely</a> How to Increase Diversity in the Profession, Evely<a title="The CPA Journal - October 1, 2010 page 16" href="http://viewer.zmags.com/publication/ed06b1bd?page=16">Mentoring Employees Once minorities are hired,</a> Mentoring Employees Once minorities are hired,<a title="The CPA Journal - October 1, 2010 page 17" href="http://viewer.zmags.com/publication/ed06b1bd?page=17"></a> <a title="The CPA Journal - October 1, 2010 page 18" href="http://viewer.zmags.com/publication/ed06b1bd?page=18">Bringing the World Together on One Standard: Get</a> Bringing the World Together on One Standard: Get<a title="The CPA Journal - October 1, 2010 page 19" href="http://viewer.zmags.com/publication/ed06b1bd?page=19">Bringing the World Together on One Standard: Getti</a> Bringing the World Together on One Standard: Getti<a title="The CPA Journal - October 1, 2010 page 20" href="http://viewer.zmags.com/publication/ed06b1bd?page=20"> Bringing the World Together on One Standard: Ge</a> Bringing the World Together on One Standard: Ge<a title="The CPA Journal - October 1, 2010 page 21" href="http://viewer.zmags.com/publication/ed06b1bd?page=21">Bringing the World Together on One Standard: Getti</a> Bringing the World Together on One Standard: Getti<a title="The CPA Journal - October 1, 2010 page 22" href="http://viewer.zmags.com/publication/ed06b1bd?page=22">Bringing the World Together on One Standard: Getti</a> Bringing the World Together on One Standard: Getti<a title="The CPA Journal - October 1, 2010 page 23" href="http://viewer.zmags.com/publication/ed06b1bd?page=23">Bringing the World Together on One Standard: Getti</a> Bringing the World Together on One Standard: Getti<a title="The CPA Journal - October 1, 2010 page 24" href="http://viewer.zmags.com/publication/ed06b1bd?page=24">Bringing the World Together on One Standard: Getti</a> Bringing the World Together on One Standard: Getti<a title="The CPA Journal - October 1, 2010 page 25" href="http://viewer.zmags.com/publication/ed06b1bd?page=25">Bringing the World Together on One Standard: Getti</a> Bringing the World Together on One Standard: Getti<a title="The CPA Journal - October 1, 2010 page 26" href="http://viewer.zmags.com/publication/ed06b1bd?page=26">Foreign Currency Forward Contracts and Cash Flow H</a> Foreign Currency Forward Contracts and Cash Flow H<a title="The CPA Journal - October 1, 2010 page 27" href="http://viewer.zmags.com/publication/ed06b1bd?page=27">Foreign Currency Forward Contracts and Cash Flow H</a> Foreign Currency Forward Contracts and Cash Flow H<a title="The CPA Journal - October 1, 2010 page 28" href="http://viewer.zmags.com/publication/ed06b1bd?page=28">Foreign Currency Forward Contracts and Cash Flow H</a> Foreign Currency Forward Contracts and Cash Flow H<a title="The CPA Journal - October 1, 2010 page 29" href="http://viewer.zmags.com/publication/ed06b1bd?page=29"></a> <a title="The CPA Journal - October 1, 2010 page 30" href="http://viewer.zmags.com/publication/ed06b1bd?page=30">Foreign Currency Forward Contracts and Cash Flow H</a> Foreign Currency Forward Contracts and Cash Flow H<a title="The CPA Journal - October 1, 2010 page 31" href="http://viewer.zmags.com/publication/ed06b1bd?page=31">Foreign Currency Forward Contracts and Cash Flow H</a> Foreign Currency Forward Contracts and Cash Flow H<a title="The CPA Journal - October 1, 2010 page 32" href="http://viewer.zmags.com/publication/ed06b1bd?page=32">Foreign Currency Forward Contracts and Cash Flow H</a> Foreign Currency Forward Contracts and Cash Flow H<a title="The CPA Journal - October 1, 2010 page 33" href="http://viewer.zmags.com/publication/ed06b1bd?page=33"> Foreign Currency Forward Contracts and Cash Flo</a> Foreign Currency Forward Contracts and Cash Flo<a title="The CPA Journal - October 1, 2010 page 34" href="http://viewer.zmags.com/publication/ed06b1bd?page=34">Guidance on Auditing High-Risk Clients, accounting</a> Guidance on Auditing High-Risk Clients, accounting<a title="The CPA Journal - October 1, 2010 page 35" href="http://viewer.zmags.com/publication/ed06b1bd?page=35">Guidance on Auditing High-Risk Clients, accounti</a> Guidance on Auditing High-Risk Clients, accounti<a title="The CPA Journal - October 1, 2010 page 36" href="http://viewer.zmags.com/publication/ed06b1bd?page=36">Guidance on Auditing High-Risk Clients, accounting</a> Guidance on Auditing High-Risk Clients, accounting<a title="The CPA Journal - October 1, 2010 page 37" href="http://viewer.zmags.com/publication/ed06b1bd?page=37">Guidance on Auditing High-Risk Clients, accounti</a> Guidance on Auditing High-Risk Clients, accounti<a title="The CPA Journal - October 1, 2010 page 38" href="http://viewer.zmags.com/publication/ed06b1bd?page=38">Guidance on Auditing High-Risk Clients, accounting</a> Guidance on Auditing High-Risk Clients, accounting<a title="The CPA Journal - October 1, 2010 page 39" href="http://viewer.zmags.com/publication/ed06b1bd?page=39">Guidance on Auditing High-Risk Clients, accounting</a> Guidance on Auditing High-Risk Clients, accounting<a title="The CPA Journal - October 1, 2010 page 40" href="http://viewer.zmags.com/publication/ed06b1bd?page=40">Price Protection in Financing Transactions May Tri</a> Price Protection in Financing Transactions May Tri<a title="The CPA Journal - October 1, 2010 page 41" href="http://viewer.zmags.com/publication/ed06b1bd?page=41">Price Protection in Financing Transactions May Tri</a> Price Protection in Financing Transactions May Tri<a title="The CPA Journal - October 1, 2010 page 42" href="http://viewer.zmags.com/publication/ed06b1bd?page=42">The Value of Good Corporate Disclosure, Kenneth </a> The Value of Good Corporate Disclosure, Kenneth <a title="The CPA Journal - October 1, 2010 page 43" href="http://viewer.zmags.com/publication/ed06b1bd?page=43">The Value of Good Corporate Disclosure, Kenneth F.</a> The Value of Good Corporate Disclosure, Kenneth F.<a title="The CPA Journal - October 1, 2010 page 44" href="http://viewer.zmags.com/publication/ed06b1bd?page=44">The Value of Good Corporate Disclosure, Kenneth F.</a> The Value of Good Corporate Disclosure, Kenneth F.<a title="The CPA Journal - October 1, 2010 page 45" href="http://viewer.zmags.com/publication/ed06b1bd?page=45"></a> <a title="The CPA Journal - October 1, 2010 page 46" href="http://viewer.zmags.com/publication/ed06b1bd?page=46">IRS Access to Workpapers: Implications of the Firs</a> IRS Access to Workpapers: Implications of the Firs<a title="The CPA Journal - October 1, 2010 page 47" href="http://viewer.zmags.com/publication/ed06b1bd?page=47">IRS Access to Workpapers: Implications of the Firs</a> IRS Access to Workpapers: Implications of the Firs<a title="The CPA Journal - October 1, 2010 page 48" href="http://viewer.zmags.com/publication/ed06b1bd?page=48">IRS Access to Workpapers: Implications of the Firs</a> IRS Access to Workpapers: Implications of the Firs<a title="The CPA Journal - October 1, 2010 page 49" href="http://viewer.zmags.com/publication/ed06b1bd?page=49">IRS Access to Workpapers: Implications of the Fi</a> IRS Access to Workpapers: Implications of the Fi<a title="The CPA Journal - October 1, 2010 page 50" href="http://viewer.zmags.com/publication/ed06b1bd?page=50">Seventh Circuit Does Not Hear “Audible Silence”:</a> Seventh Circuit Does Not Hear “Audible Silence”:<a title="The CPA Journal - October 1, 2010 page 51" href="http://viewer.zmags.com/publication/ed06b1bd?page=51">Seventh Circuit Does Not Hear “Audible Silence”: I</a> Seventh Circuit Does Not Hear “Audible Silence”: I<a title="The CPA Journal - October 1, 2010 page 52" href="http://viewer.zmags.com/publication/ed06b1bd?page=52">Judicial Guidance to Trust Reformation Under IRC S</a> Judicial Guidance to Trust Reformation Under IRC S<a title="The CPA Journal - October 1, 2010 page 53" href="http://viewer.zmags.com/publication/ed06b1bd?page=53">Judicial Guidance to Trust Reformation Under IRC S</a> Judicial Guidance to Trust Reformation Under IRC S<a title="The CPA Journal - October 1, 2010 page 54" href="http://viewer.zmags.com/publication/ed06b1bd?page=54"> Judicial Guidance to Trust Reformation Under I</a> Judicial Guidance to Trust Reformation Under I<a title="The CPA Journal - October 1, 2010 page 55" href="http://viewer.zmags.com/publication/ed06b1bd?page=55"> Judicial Guidance to Trust Reformation Under IR</a> Judicial Guidance to Trust Reformation Under IR<a title="The CPA Journal - October 1, 2010 page 56" href="http://viewer.zmags.com/publication/ed06b1bd?page=56">Judicial Guidance to Trust Reformation Under IRC S</a> Judicial Guidance to Trust Reformation Under IRC S<a title="The CPA Journal - October 1, 2010 page 57" href="http://viewer.zmags.com/publication/ed06b1bd?page=57">Judicial Guidance to Trust Reformation Under IRC S</a> Judicial Guidance to Trust Reformation Under IRC S<a title="The CPA Journal - October 1, 2010 page 58" href="http://viewer.zmags.com/publication/ed06b1bd?page=58">The Dodd-Frank Wall Street Reform and Consumer Pro</a> The Dodd-Frank Wall Street Reform and Consumer Pro<a title="The CPA Journal - October 1, 2010 page 59" href="http://viewer.zmags.com/publication/ed06b1bd?page=59">The Dodd-Frank Wall Street Reform and Consumer Pro</a> The Dodd-Frank Wall Street Reform and Consumer Pro<a title="The CPA Journal - October 1, 2010 page 60" href="http://viewer.zmags.com/publication/ed06b1bd?page=60">The Dodd-Frank Wall Street Reform and Consumer Pro</a> The Dodd-Frank Wall Street Reform and Consumer Pro<a title="The CPA Journal - October 1, 2010 page 61" href="http://viewer.zmags.com/publication/ed06b1bd?page=61"></a> <a title="The CPA Journal - October 1, 2010 page 62" href="http://viewer.zmags.com/publication/ed06b1bd?page=62">The Dodd-Frank Wall Street Reform and Consumer Pro</a> The Dodd-Frank Wall Street Reform and Consumer Pro<a title="The CPA Journal - October 1, 2010 page 63" href="http://viewer.zmags.com/publication/ed06b1bd?page=63"> The Dodd-Frank Wall Street Reform and Consumer </a> The Dodd-Frank Wall Street Reform and Consumer <a title="The CPA Journal - October 1, 2010 page 64" href="http://viewer.zmags.com/publication/ed06b1bd?page=64">Double-Entry, Non-Standard Entries, and Fraud, res</a> Double-Entry, Non-Standard Entries, and Fraud, res<a title="The CPA Journal - October 1, 2010 page 65" href="http://viewer.zmags.com/publication/ed06b1bd?page=65">Double-Entry, Non-Standard Entries, and Fraud, res</a> Double-Entry, Non-Standard Entries, and Fraud, res<a title="The CPA Journal - October 1, 2010 page 66" href="http://viewer.zmags.com/publication/ed06b1bd?page=66"> Double-Entry, Non-Standard Entries, and Fraud, r</a> Double-Entry, Non-Standard Entries, and Fraud, r<a title="The CPA Journal - October 1, 2010 page 67" href="http://viewer.zmags.com/publication/ed06b1bd?page=67">Double-Entry, Non-Standard Entries, and Fraud, r</a> Double-Entry, Non-Standard Entries, and Fraud, r<a title="The CPA Journal - October 1, 2010 page 68" href="http://viewer.zmags.com/publication/ed06b1bd?page=68">Cloud Computing, Accounting, Auditing and Beyond, </a> Cloud Computing, Accounting, Auditing and Beyond, <a title="The CPA Journal - October 1, 2010 page 69" href="http://viewer.zmags.com/publication/ed06b1bd?page=69">Cloud Computing, Accounting, Auditing and Beyond, </a> Cloud Computing, Accounting, Auditing and Beyond, <a title="The CPA Journal - October 1, 2010 page 70" href="http://viewer.zmags.com/publication/ed06b1bd?page=70">Cloud Computing, Accounting, Auditing and Beyond, </a> Cloud Computing, Accounting, Auditing and Beyond, <a title="The CPA Journal - October 1, 2010 page 71" href="http://viewer.zmags.com/publication/ed06b1bd?page=71">Cloud Computing, Accounting, Auditing and Beyond</a> Cloud Computing, Accounting, Auditing and Beyond<a title="The CPA Journal - October 1, 2010 page 72" href="http://viewer.zmags.com/publication/ed06b1bd?page=72">Cloud Computing, Accounting, Auditing and Beyond, </a> Cloud Computing, Accounting, Auditing and Beyond, <a title="The CPA Journal - October 1, 2010 page 73" href="http://viewer.zmags.com/publication/ed06b1bd?page=73">Register Early! Personal FinancialPlannin</a> Register Early! Personal FinancialPlannin<a title="The CPA Journal - October 1, 2010 page 74" href="http://viewer.zmags.com/publication/ed06b1bd?page=74">What to Bookmark, Website of the Month: Institute </a> What to Bookmark, Website of the Month: Institute <a title="The CPA Journal - October 1, 2010 page 75" href="http://viewer.zmags.com/publication/ed06b1bd?page=75">What to Bookmark, Website of the Month: Institute </a> What to Bookmark, Website of the Month: Institute <a title="The CPA Journal - October 1, 2010 page 76" href="http://viewer.zmags.com/publication/ed06b1bd?page=76">Classified PROFESSIONAL OPPORTUNITY l BUSINESS l </a> Classified PROFESSIONAL OPPORTUNITY l BUSINESS l <a title="The CPA Journal - October 1, 2010 page 77" href="http://viewer.zmags.com/publication/ed06b1bd?page=77">CPA FIRMS OR PARTNERSWe represent a number of qu</a> CPA FIRMS OR PARTNERSWe represent a number of qu<a title="The CPA Journal - October 1, 2010 page 78" href="http://viewer.zmags.com/publication/ed06b1bd?page=78">10 person Midtown CPA firm has space forsimilar </a> 10 person Midtown CPA firm has space forsimilar <a title="The CPA Journal - October 1, 2010 page 79" href="http://viewer.zmags.com/publication/ed06b1bd?page=79">SALES TAX, ISAAC STERNHEIM & CO.Sales tax consul</a> SALES TAX, ISAAC STERNHEIM & CO.Sales tax consul<a title="The CPA Journal - October 1, 2010 page 80" href="http://viewer.zmags.com/publication/ed06b1bd?page=80"> </a> <a title="The CPA Journal - October 1, 2010 page 81" href="http://viewer.zmags.com/publication/ed06b1bd?page=81">E CONOMIC & MARKET D ATAmonthly updat</a> E CONOMIC & MARKET D ATAmonthly updat<a title="The CPA Journal - October 1, 2010 page 82" href="http://viewer.zmags.com/publication/ed06b1bd?page=82">Financial Reform Gives with One Hand, Takes with t</a> Financial Reform Gives with One Hand, Takes with t<a title="The CPA Journal - October 1, 2010 page 83" href="http://viewer.zmags.com/publication/ed06b1bd?page=83"></a> <a title="The CPA Journal - October 1, 2010 page 84" href="http://viewer.zmags.com/publication/ed06b1bd?page=84"></a>