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2011 Team and Review Captain Checklists 

You can download Checklists, Questionnaires and other Material to Perform System Reviews.
 
You can download Checklists and other Material to Perform Engagement Reviews
.

You can review the latest Release Notes.

General Notes:

The June 2011 release of the Peer Review Program Manual should be mailed to subscribers by the end of July 2011.  If you have not received your update by then, please contact AICPA Member Services at 888.777.7077.

The checklists have been updated for SSARS 19, which is effective for compilations and reviews of financial statements with periods ending on or after December 15, 2010.  Peer reviewers should use checklist 20,200A, 20,300A, 23,200A and 23,300A for engagements with periods ending before December 15, 2010.

The checklists have been updated through FASB Accounting Standards Update number 2010-18.

The Quality Control Questionnaires (sections 4300 and 4400) were updated in 2010 and again in 2011. If the appropriate questionnaire is completed by the firm in adequate detail, it can normally be used to comply with Statement on Quality Control Standards No. 7, effective January 1, 2009. The questionnaires are not intended to be used as the quality control document for large firms with complex systems of quality of control.

Section 22,300, the “Financial Reporting and Disclosure Checklist,” is required for the general audit, and also the general review and compilation with full disclosure engagement checklists. It is not required for compilations that omit substantially all disclosures.

Update to HUD Audit Guide

At the time of the development of the checklists, HUD was, and still is, in the process of updating the HUD audit guide on a chapter-by-chapter basis. This approach by HUD has made it difficult to update the HUD checklist. The status of each chapter is included in the instructions to the HUD Checklist (Section 22,090), along with the related effective dates. Therefore, in reviewing chapters that have been updated by HUD, reviewers should use the HUD checklist in conjunction with the updated chapter from the HUD audit guide. Upon completion of the HUD audit guide overhaul, this checklist will be revised to be consistent with the guide.

Additional Documentation

As with prior versions, if additional documentation is necessary for any checklist or practice aid item, you should attach separate pages, with the additional documentation, to the checklist or practice aid.

Supplemental Checklists

Reviewers should now complete the supplemental checklists for engagement reviews, or document the reason(s) he or she did not in the Review Captain’s Checklist.  For reviews of compilations that omit substantially all disclosures, the reviewer may choose to complete the supplemental checklist, but it is not required.

Digital Signature

The checklists and practice aids in PDF format allow the documents to be digitally signed. However, the documents can still be printed and signed manually, as well.

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AICPA Member Discount Program

Article The AICPA offers discounts on products and services from premium brands to its members.
Published on May 26, 2016

Technical Quality and Services Delivery

Overview Quality & Services Delivery abstract:  Keep up with tax changes, accounting & auditing standards and use plain English tools and guidance to understand new requirements and in communicating with professional staff and clients.  Understand peer review processes and quality control document requirements while also staying abreast of news in the
Published on May 26, 2016

Small Securities Issuer Snapshot

Issue Brief On March 25, 2015, an existing exemption from registration for smaller securities issuers was updated and expanded.The AICPA has gathered details to assist.
Published on May 26, 2016

Equity Crowdfunding Snapshot

Issue Brief Equity crowdfunding allows small businesses to raise capital by offering equity to any investor without registering with the SEC. The AICPA has provided a snapshot of the detailed rules and regulations.
Published on May 26, 2016

Addressing Small Business Client Concerns

Overview Obtain information specific to addressing your clients’ concerns. We have gathered information from surveys that indicate small business owners’ pain points and have developed resources for you to use in showcasing your value and knowledge to your clients on need to know topics.
Published on May 26, 2016

DOL Overtime Rule Sample Newsletter blurb

Tools The DOL released a final rule that radically increases the thresholds for overtime rules, expanding the number of employees eligible for overtime pay. CPAs can use this sample blurb to communicate to clients about the rule and showcase the CPAs knowledge of the issue while also easing clients concerns.
Published on May 26, 2016

PCPS TIC Comment Letters

Comment Letters TIC is a committee of CPA practitioner volunteers working to represent the views of local firms and their clients in the standards-setting process. TIC comment letters provide views and informed recommendations submitted by TIC, in support of private firms.
Published on May 26, 2016

PCPS TIC Ethics Standards Comment Letters

Comment Letters TIC Comment Letters provide the PCPS Technical Issues Committee’s (TIC) views on proposed technical standards affecting small businesses. This page contains TIC comment letters on proposed standards from the AICPA Professional Ethics Division.
Published on May 26, 2016

Tax Executive Committee

Roster The TEC helps the Tax Division achieve its mission to "serve the public interest by assisting AICPA members to be the most trusted professional providers of tax services, and by advocating sound tax policy and effective tax administration."
Published on May 26, 2016

Tax Practice and Procedures Committee

Article The Tax Practice and Procedures Committee monitors developments in and changes to IRS procedural and administrative guidance.
Published on May 26, 2016

Tax Practice Management Committee (TPMC)

Roster The Tax Practice Management Committee develops products and services including tax practice guides for AICPA Tax Section members that improve the quality, efficiency, and profitability of members’ tax practices, and help members maintain high practice standards.
Published on May 26, 2016

Tax Practice Responsibilities Committee

Roster The Tax Practice Responsibilities Committee monitors and makes recommendations on internal and external rules. They also maintain relations with the Director of the IRS Office of Professional Responsibility, who has authority to discipline practitioners in their practice before the IRS.
Published on May 26, 2016

Tax CPE & Learning

Overview The AICPA Tax Section schedules webcasts and events that focus on many current tax issues that impact tax practices and business and industry members. This page provides registration links and other information on upcoming learning opportunities.
Published on May 26, 2016

Representation & Examinations

Overview This page focuses on tax guidance, practice aids, tools, and educational resources to help you plan, manage, and execute representation engagements.
Published on May 26, 2016

PCPS TIC Accounting Standards Comment Letters

Comment Letters TIC Comment Letters provide the PCPS Technical Issues Committee’s (TIC) views on proposed technical standards affecting small businesses. This page contains TIC comment letters pertaining to recent proposals issued by the Financial Accounting Standards Board.
Published on May 26, 2016

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