AICPA issues TQAs on internal control

Questions about AU-C Section 315 are addressed.

New Technical Questions and Answers (TQAs) issued by the AICPA provide nonauthoritative guidance in the area of internal control.

The TQAs in Question and Answer Sections 8200.17—21 address questions received from auditors and other members about what is meant by controls relevant to the audit and control activities relevant to the audit in AU-C Section 315, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement. The TQAs can be accessed on the "Recently Issued Technical Questions and Answers" webpage at aicpa.org.

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100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.