AICPA’s SLGEP & Audit and Attest Standards Team Release New Auditing Interpretations
After hosting multiple discussions concerning the issues facing accounting and auditing implementation for government pension plans and participants, and their auditors due to the Governmental Accounting Standards Board’s (“GASB”) recent pension accounting standards, the American Institute of Certified Public Accountants (“AICPA”) State and Local Governments Expert Panel (“SLGEP”) and AICPA Audit and Attest Standards Team have come together to issue three auditing interpretations for guidance. The three audit interpretations are as follows: Interpretation No. 2, “Auditor of Participating Employer in a Governmental Cost-Sharing Multiple-Employer Pension Plan,” of AU-C section 500, Audit Evidence: This interpretation clarifies the audited financial statements of. Read More.