Standard Practice
Standard Practice explores the audit, accounting, and tax standards that shape the accounting profession. Host Meredith Mednick, CPA, CA, breaks down what those rules actually mean for practitioners who apply them every day. The show goes beyond compliance checkboxes to explain the reasoning and real-world impact of professional standards.
Episodes
AS 2901: Responding to Engagement Deficiencies
What happens when an audit's already wrapped, the report's already filed, and someone finds a problem anyway? PCAOB standard AS 2901 answers that question, replacing older, narrower guidance with a much broader obligation: firms now have to respond to engagement deficiencies identified after the fact, no matter how they were found.This episode breaks down the standard's threshold test for
UPDATE: PCAOB QC 1000: Amendments to A Firm's System of Quality Control
On September 9, 2026, the PCAOB adopted amendments to QC 1000, three months before they take effect. This is a companion to episode two, PCAOB QC 1000, A Firm's System of Quality Control, covering the recent changes. Connect with MeredithLinkedIn: https://www.linkedin.com/in/meredithmednick/Earn CPE for Listening to This Podcasthttps://www.earmark.app/This podcast is a production of Ear
PCAOB QC 1000: A Firm's System of Quality Control
Most firms don't have a quality problem; they have a documentation problem that keeps masquerading as one. This episode breaks down PCAOB QC 1000, the new standard that forces firms to move from checking boxes to actually knowing whether their quality control works, and what that shift means before the December 2026 effective date.Connect with MeredithLinkedIn: https://www.linkedin.com/in
IFRS 18: Presentation and Disclosure in Financial Statements
IAS 1 is gone, and IFRS 18 doesn't just tweak the edges. It rewrites how entities present their statement of profit or loss, and it's going to change how you read financial statements for years to come.In this episode, Meredith Mednick, CPA, CA is joined by Blake Oliver, CPA. They break down what's actually new: a mandatory five-category framework for classifying every item of income and
