CPAs and Advisors with Your Growth in Mind

AICPA Publishes Sustainability Information Attestation Guide

Providing accountants guidance on assurance regarding sustainability reporting, the American Institute of Certified Public Accountants (“AICPA”) has published Attestation Engagements on Sustainability Information — Including Greenhouse Gas Emissions Information. Susan Coffey, the organization’s executive vice president for public practice, said the attestation guide will cover areas aside from reporting on greenhouse gases and encourage consistency in assurance throughout sustainability engagement. The guide offers illustrative examination and review procedures to help accountants differentiate between the procedures. In addition, it features illustrative representation letters and accountants’ reports. The new guidance also addresses certain matters outside of the clarified attestation standards and offers. Read More.

Topics: , , , , ,

Auditing Standards Board Outlines Discussions for Upcoming Meeting

Continuing efforts to reformat attestation standards based on the American Institute of Certified Public Accountants’ (“AICPA”) clarity conventions, the AICPA Auditing Standards Board (“the Board”) plans to review comment letters received on the standards’ first four chapters drafts at its upcoming meeting. Scheduled for October 20th-22nd in New York City, the Board will cover Proposed Statement on Standards for Attestation Engagements (SSAE) – Attestation Standards: Clarification and Recodification, which establishes clarified standards objectives and definitions for each standard. Reformatting the standards is part of the AICPA’s Clarity Project that helps make them better to understand and be applied. Along with. Read More.

Topics: , , , ,

AICPA’s Auditing Standards Board Releases Proposed Statement on Auditing Standards

Featuring conforming amendments related to sections in Statement on Auditing Standards (SAS) No. 122, Statements on Auditing Standards: Clarification and Recodification, the American Institute of Certified Public Accountants’ (“AICPA”) Auditing Standards Board has issued an exposure draft for proposed SAS: An Audit of Internal Control Over Financial Reporting That Is Integrated With an Audit of Financial Statements. The Auditing Standards Board decided to remove existing AT section 501 information from the attestation standards and incorporate within generally accepted auditing standards (GAAS) because the attestation requirements required the examination be performed with an audit of the financial statement. Along with the. Read More.

Topics: , , , , , , , ,

Auditing Standards Board Issues Standards for Public Comment

During its three-day meeting in Montreal, Quebec, Canada, last month, the American Institute of Certified Public Accountants’ (“AICPA”) Auditing Standards Board (“ASB”) moved forward on issuing proposed clarified attestation standards Chapter 8, “Reporting on Controls at a Service Organization,” and Statement on Auditing Standards (SAS), An Audit of Internal Control Over Financial Reporting That is Integrated With an Audit of Financial Statements, for public comment. If both become final, then Chapter 8 would replace the current AT Section 801, “Reporting on Controls at a Service Organization”, and the proposed SAS would supersede AT Section 501, “An Examination of an Entity’s. Read More.

Topics: , , , , , , ,

Final Auditing and Attestation Standards Published

After receiving approval from the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board (“PCAOB”) has posted its final auditing and attestation standards. Updated recently on its website, the standards include: Auditing Standard No. 17, Auditing Supplemental Information Accompanying Audited Financial Statements, and associated amendments; Attestation Standard No. 1, Examination Engagements Regarding Compliance Reports of Brokers and Dealers; Attestation Standard No. 2, Review Engagements Regarding Exemption Reports of Brokers and Dealers, and associated amendments; and Amendments conforming to the Dodd-Frank Act; which modify some PCAOB rules to the audits and auditors of broker-dealers listed with the SEC. Amendments to the PCAOB rules will be effective. Read More.

Topics: , , ,