The AICPA issued the Audit and Accounting Guide Airlines, which provides the latest information on accounting and auditing issues affecting the airline industry. The guide addresses a number of new transactions and issues that have emerged over the years, including frequent flyer programs, electronic ticketing, revenue breakage, power-by-the hour maintenance arrangements, amendable labor contracts, and airline intangible assets.
Chapters of the guide are dedicated specifically to air cargo and regional carriers, and auditing sections include exhibits that provide examples of substantive audit procedures and cover significant accounts unique to the airline industry and related controls. The guide also reflects Statement on Auditing Standards no. 104 through no. 111, commonly referred to as the risk assessment standards.
guide is available for purchase at