ASB addresses engagements performed under 2 sets of attestation standards

By Ken Tysiac

An interpretation issued Tuesday by the AICPA Auditing Standards Board permits practitioners to perform and report on an attestation engagement in accordance with AICPA attestation standards in addition to another set of attestation standards as long as both sets of standards are followed in their entirety.

Additional language in Attestation Interpretation No. 4 to AT-C Section 105, Concepts Common to All Attestation Engagements, provides practitioners with examples of additional language to use in attestation reports to indicate that the engagement was conducted under AICPA attestation standards and another set of attestation standards.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.

SPONSORED REPORT

6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.

PODCAST

How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.