Exposure Draft Issued on Selected Procedures Standard
The Auditing Standards Board of the American Institute of Certified Public Accountants recently issued an exposure draft regarding the Proposed Statement on Standards for Attestation Engagements (“SSAE”), Selected Procedures. The proposal offers guidance on procedures outside of the scope of AT-C Section 215, Agreed-Upon Procedures Engagements. In addition, the proposed SSAE helps distinguish a selected procedures engagement from an agreed-upon procedures engagement. For instance, the practitioner would be exempt from requesting or obtaining an assertion from any party. Another key aspect is that the practitioner would not have to limit how the report is used, but could allow a wider. Read More.
Topics: Agreed-Upon Procedures Engagement, AICPA, AICPA Exposure Draft, American Institute of Certified Public Accountants "AICPA", Proposed Statement on Standards for Attestation Engagements, Selected Procedures