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.

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.