CPA firms’ ability to loan staff to attest clients would be limited to rare circumstances under a newly proposed AICPA ethics interpretation.
Performing an attest engagement
Statement on Standards for Attestation Engagements (SSAE) No. 19, Agreed-Upon Procedures Engagements, provides practitioners more flexibility for performing agreed-upon procedures engagements.
The SEC issued amendments that exempt smaller reporting companies with less than $100 million in revenue from the requirement to obtain attestation of their internal control over financial reporting from an outside auditor.
A recently issued independence interpretation contains guidance for CPAs’ interactions with attest clients’ information systems.
Seventy percent of companies participating in a survey by The Conference Board that obtain assurance on their sustainability information said the need for such assurance will increase over the next five years.
The steady growth in assurance of sustainability reports suggests that companies increasingly perceive that there are net benefits of having their sustainability reports assured.
If approved, the standard would give practitioners added flexibility.
The AICPA Auditing Standards Board issued a proposal that would make numerous changes to the attestation standards, including changing the terminology for what have been known as “review engagements.”
CPA firms must take care not to run afoul of professional standards if they are asked to sign nondisclosure agreements.
Two new Frequently Asked Questions (FAQs) issued by the AICPA Professional Ethics Division provide nonauthoritative guidance for the effects on independence when senior personnel have been on an attest engagement team for a long period.
Attestation guidance addresses third-party due-diligence services for asset-backed securities.
Read excerpts from a new AICPA-issued sustainability guide issued to aid practitioners taking on attestation services in this emerging area.
The ASB issued a statement of position providing guidance for attestation engagements related to third-party due-diligence services performed in connection with asset-backed securities.
Taking responsibility for hosting an attest client’s data or records impairs a CPA’s independence, according to a new ethics interpretation.
A proposal by the AICPA's ARSC would result in flexibility for practitioners performing and reporting on a procedures and findings service.
The AICPA ASB issued an interpretation that describes conditions for practitioners who wish to perform and report on an attestation engagement in accordance with AICPA attestation standards in addition to another set of attestation standards.
SSAE No. 18 is designed to make attestation standards easier to read, understand and apply.
New technical questions and answers provide nonauthoritative guidance for practitioners regarding the types of engagements practitioners may perform in connection with the American Land Title Association’s “Best Practices Framework.”
A new AICPA Auditing Standards Board attestation interpretation provides guidance for third-party due-diligence services performed as agreed-upon procedures engagements related to asset-backed securitizations.
In a new concept of practice monitoring the AICPA envisions for the future, peer reviewers and firms will use a new technology platform to enable more thorough analysis and provide more timely feedback for accounting, auditing and attestation engagements.