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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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