Auditing


The AICPA’s Auditing Standards Board issued two exposure drafts related to service organizations. Proposed Statement on Auditing Standards, Audit Considerations Relating to an Entity Using a Service Organization (Redrafted), is for auditors of entities that use a service organization. The redrafted SAS would supersede AU section 324, Service Organizations. Proposed Statement on Standards for Attestation Engagements (SSAE), Reporting on Controls at a Service Organization, is for service auditors reporting on controls at a service organization.

Comments on the exposure drafts are due Feb. 17. The drafts are available at http://tinyurl.com/6qwy7m.

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These year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.

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