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

Get your clients ready for tax season

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.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.