AICPA Updates Attest Interpretation No. 4

March 20, 2018

The American Institute of Certified Public Accountants (“AICPA”) recently amended Attest Interpretation No. 4, Performing and Reporting on an Attestation Engagement Under Two Sets of Attestation Standards, of AT-C section 105, Concepts Common to All Attestation Engagements.

Interpretation No. 4 offers guidance on conducting attestation engagements under two sets of attestation standards, such as the AICPA standards and standards from either the PCAOB or the International Auditing and Assurance Standards Board. Practitioners can perform and report an attestation engagement compliant with two sets of attestation standards providing that both sets of standards are followed.

The updates impact paragraphs .31 to .37 (AT-C sec. 9105 par. .31–.37) of Interpretation No. 4 to consider the incremental reporting provisions under AT-C section 205, Examination Engagements, AT-C section 210, Review Engagements, and AT-C section 215, Agreed-Upon Procedures Engagements. Additionally, Interpretation No. 4 now offers illustrative reports to help with the form of attestation report in the Public Company Accounting Oversight Board’s Interim Attestation Standards, altered to show the engagement was also conducted according to the AICPA’s clarified attestation standards.