FAQs on SOC 2 and SOC 3 engagements issued by AICPA staff
The AICPA staff has posted new FAQ guidance on issues related to System and Organization Controls 2 and 3 (SOC 2 and SOC 3) engagements.
Attestation
New attestation standard clarifies work effort of review engagements
The limited assurance obtained by a practitioner in a review engagement is clarified in a standard issued by the AICPA Auditing Standards Board.
Cybersecurity provides opportunities for auditors to serve
Practitioners can provide services to clients related to cybersecurity beyond their financial statement auditing role, according to a newly published report from the Center for Audit Quality.
Gauging risk assessment and response processes
How well do auditors perform in assessing and responding to risks of material misstatement? New research provides some answers.
'Direct examination' engagement created by SSAE No. 21
Practitioners will be able to perform a new engagement known as a direct examination for clients under a new standard published by the AICPA Auditing Standards Board (ASB).
AICPA ethics proposal would limit firms' loaning of staff to attest clients
CPA firms’ ability to loan staff to attest clients would be limited to rare circumstances under a newly proposed AICPA ethics interpretation.
More flexibility for agreed-upon procedures
Statement on Standards for Attestation Engagements (SSAE) No. 19, Agreed-Upon Procedures Engagements, provides practitioners more flexibility for performing agreed-upon procedures engagements.
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.
Independence and information systems services
A recently issued independence interpretation contains guidance for CPAs’ interactions with attest clients’ information systems.
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.
Proposed standard would revise SSAE No. 18
If approved, the standard would give practitioners added flexibility.
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.”
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.
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.
ASB issues new statement of position
Attestation guidance addresses third-party due-diligence services for asset-backed securities.
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.
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.
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.
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.
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.
