With the May 31 deadline approaching for companies to file their first conflict minerals reports with the SEC, new guidance is available to practitioners as they perform the required independent private-sector audits of these reports.
Examples of practitioners’ reports are illustrated in new questions and answers developed by the AICPA Conflict Minerals Task Force. The nonauthoritative guidance in the questions and answers is available on the AICPA website and addresses:
- Whether the practitioner may report either directly on the subject matter or on management’s assertion for each of the two audit objectives.
- The form of a practitioner’s report, with three illustrations that serve as examples.
- How a practitioner would communicate findings that are required to be communicated by Generally Accepted Government Auditing Standards.
The AICPA Conflict Minerals Resources webpage includes background, previously issued Q&As, and other useful information about conflict minerals.