Attestation

TOPICS / AUDIT & ASSURANCE

March 12, 2020

SEC exempts certain companies from ICFR attestation requirement

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.

December 1, 2019

Independence and information systems services

A recently issued independence interpretation contains guidance for CPAs’ interactions with attest clients’ information systems.

October 10, 2019

Sustainability assurance’s link to reporting quality

The steady growth in assurance of sustainability reports suggests that companies increasingly perceive that there are net benefits of having their sustainability reports assured.

September 1, 2018

Proposed standard would revise SSAE No. 18

If approved, the standard would give practitioners added flexibility.

July 11, 2018

Proposed SSAE would increase flexibility for practitioners in performing attestation engagements

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.”

May 1, 2018

The trouble with nondisclosure agreements in attest engagements

CPA firms must take care not to run afoul of professional standards if they are asked to sign nondisclosure agreements.

March 21, 2018

New FAQs address familiarity threats for long-tenured senior engagement personnel

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.

February 1, 2018

ASB issues new statement of position

Attestation guidance addresses third-party due-diligence services for asset-backed securities.

February 1, 2018

Guidance for sustainability attestation engagements

Read excerpts from a new AICPA-issued sustainability guide issued to aid practitioners taking on attestation services in this emerging area.

November 21, 2017

Attestation guidance for third-party due-diligence services for asset-backed securities

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.

September 27, 2017

How data-hosting services affect independence

Taking responsibility for hosting an attest client’s data or records impairs a CPA’s independence, according to a new ethics interpretation.

September 1, 2017

Proposal would pave the way for a new attestation service

A proposal by the AICPA’s ARSC would result in flexibility for practitioners performing and reporting on a procedures and findings service.

May 23, 2017

ASB addresses engagements performed under 2 sets of attestation standards

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.

April 5, 2016

Issuance of attestation standards completes clarity project

SSAE No. 18 is designed to make attestation standards easier to read, understand and apply.

April 27, 2015

AICPA issues Q&As for practitioners related to ALTA best practices framework

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.”

February 25, 2015

ASB issues attestation interpretation to agreed-upon procedures engagements standard

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.

December 15, 2014

Evolving practice monitoring to improve quality in A&A engagements

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.

October 19, 2014

Council vote conforms resolution in AICPA code with revised UAA attest definition

Representatives at the AICPA fall Council meeting Sunday voted to approve changes to the “Council Resolution Concerning the Form of Organization and Name Rule” of the AICPA Code of Professional Conduct that will conform the code to the recently revised definition of attest in the Uniform Accountancy Act (UAA). The

May 20, 2014

Firm mobility and updated definition of attest included in updated UAA

Changes in the Uniform Accountancy Act (UAA) announced Tuesday will update the definition of attest and allow for CPA firm mobility across state borders. The boards of the AICPA and the National Association of State Boards of Accountancy (NASBA) have approved the changes to the UAA. While the UAA is

July 5, 2013

GAO advises SEC to require disclosure of auditor attestation of ICFR

The U.S. Government Accountability Office (GAO) is recommending that the SEC consider requiring public companies to disclose whether they obtained an auditor attestation of their internal controls over financial reporting (ICFR). In a report to congressional committees, the GAO said attestation reports increase investor confidence. Requiring disclosure of whether a