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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.

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AICPA’s Auditing Standards Board to Meet in Montreal Next Week

Starting Tuesday, the American Institute of Certified Public Accountants’ (“AICPA”) Auditing Standards Board (“ASB”) will hold a three-day meeting in Montreal, Quebec. Planned to discuss additional clarified standards, the ASB’s meeting agenda will feature: – A review of An Audit of Internal Control Over Financial Reporting That is Integrated With an Audit of Financial Statements, a proposal that would replace AT section 501, An Examination of an Entity’s Internal Control Over Financial Reporting That Is Integrated With an Audit of Its Financial Statements, and Interpretation No. 1 of AT section 501, “Reporting Under Section 112 of the Federal Deposit Insurance Corporation Improvement. Read More.

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