The AICPA Auditing Standards Board issued an exposure draft of proposed Statement on Auditing Standards (SAS), Defining Professional Requirements in Statements on Auditing Standards, and proposed Statement on Standards for Attestation Engagements (SSAE), Defining Professional Requirements in Statements on Standards for Attestation Engagements ( The suggested guidance defines terminology describing auditors’ and practitioners’ degrees of responsibility during engagements. The terms must and is required denote a requirement, while the term should denotes a presumptive requirement. The auditor or practitioner is required to comply with a requirement in all cases in which the circumstances exist to which the requirement applies. In rare circumstances, an auditor or practitioner may depart from a presumptive requirement if he or she documents the justification for departure and how alternative procedures performed were sufficient to achieve the objective of the presumptive requirement. The proposed statements will apply to existing SASs and SSAEs. Comments on them are due May 15, 2005.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.