- news
- AUDITING
AICPA issues nonauthoritative guidance for payroll audits
Please note: This item is from our archives and was published in 2018. It is provided for historical reference. The content may be out of date and links may no longer function.
Related
New: Digital assets practice aid addresses auditing of lending, borrowing
PCAOB postpones effective date for new quality control system
A&A Focus recap: M&A trends, non-GAAP frameworks, and how quality management and peer review intersect
TOPICS
The AICPA issued nonauthoritative guidance Thursday relating to multiemployer plan payroll compliance services when a practitioner is engaged to perform payroll compliance procedures as an agreed-upon procedures engagement in accordance with AT-C Section 215, Agreed-Upon Procedures Engagements.
These services often are referred to as “payroll audits.” Technical Questions and Answers (TQAs) 6935.03–.06 discuss:
- Requesting and obtaining the engagement letter.
- Requesting and obtaining the representation letter from the engaging party.
- The situation when requested representations are not obtained from one or more responsible parties.
- The use of agreed-upon procedures reports or other reports as audit evidence.
Q&A Section 6935 has been retitled Multiemployer Plans, and former TQAs 6935.01–.02 have been transferred to Q&A Section 6933, Auditing Employee Benefit Plans, paragraphs .11–.12.
— Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.
