Conflict minerals audit guidance available


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.

SPONSORED REPORT

Tax reform complicates year-end tax planning

Get your clients ready for tax season with these year-end tax planning strategies, which address how to make the most of recent tax law changes, such as the new deduction for qualified business income and the cap on the deductibility of state and local taxes.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.