ASB proposes performance requirements when auditors are involved with exempt offering documents

By Ken Tysiac

The AICPA Auditing Standards Board issued an exposure draft Tuesday that proposes specific performance requirements when an auditor is involved with an offering of securities that are exempt from registration under the Securities Act of 1933, as amended, or a franchise offering regulated by the Federal Trade Commission.

Exempt offerings include, but are not limited to, private placement offerings, exempt public offerings, municipal securities offerings, and franchise offerings.

The proposal, Proposed Statement on Auditing Standards, Auditor Involvement With Exempt Offering Documents, would take effect for offering documents with which the auditor is involved that are initially distributed, circulated, or submitted on or after June 15, 2018.

Comments can be made by Oct. 13 to Sherry Hazel at shazel@aicpa.org.

Ken Tysiac (ktysiac@aicpa.org) is a JofA editorial director.

Where to find July’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

Better decision-making with data analytics

Data analytics has become a hot topic, but many organizations have not yet managed to understand its potential, let alone put it to work. This report will take a deep-dive on how to best introduce or enhance the use of data in decision-making.