AICPA proposes plan to improve audit performance.

The AICPA released a six-point plan (www.aicpa.org/lnterestAreas/PeerReview/DownloadableDocuments/EAQ-6-point-plan.PDF) to improve audits that outlines enhancements in the following areas:

1. Pre-CPA Licensure: A next version of the Uniform CPA Exam designed to increase assessment of higher-order skills, such as critical thinking and professional skepticism; high school advanced placement accounting course; changes to college-level accounting education; and additional doctoral-level audit professors with practical experience

2. Standards and Ethics: Quality control standards implementation support, auditor's report revisions, evaluation of clarified standards implementation and ethics code codification

3. CPA Learning and Support: Competency models for audit engagements, including employee benefit plan and governmental audits; competency assessment tools; targeted resources to develop competencies; and certificate programs to demonstrate competence

4. Peer Review...