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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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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 July 28, 2016

The Practicing CPA- Large Firm (Archived articles)

Overview This archive page contains past acticles from The Practicing CPA written for large firms to provide information on practice management issues and new technical developments and deliver related practitioner perspectives.
Published on July 28, 2016

The Practicing CPA- Medium Firm (Archived articles)

Overview This archive page contains past acticles from The Practicing CPA written for medium firms to provide information on practice management issues and new technical developments and deliver related practitioner perspectives.
Published on July 28, 2016

The Practicing CPA- Small Firm (Archived articles)

Overview This archive page contains past acticles from The Practicing CPA written for small firms to provide information on practice management issues and new technical developments and deliver related practitioner perspectives.
Published on July 28, 2016

The Practicing CPA- Sole Practitioner (Archived articles)

Overview This archive page contains past acticles from The Practicing CPA written for sole practitioners to provide information on practice management issues and new technical developments and deliver related practitioner perspectives.
Published on July 28, 2016

The Practicing CPA- Feature Focus (Archived articles)

Overview This archive page contains past feature focus acticles from The Practicing CPA written for all firm sizes to provide information on practice management issues and new technical developments and deliver related practitioner perspectives.
Published on July 28, 2016

FREE Tax Section CPE Webcasts

Webcast Tax Section members receive four complimentary webcasts hosted by the Tax Section. These events will offer a total of eight hours of free CPE credit.
Published on July 28, 2016

Personal Financial Satisfaction Index (PFSi)

Overview The Personal Financial Satisfaction Index (PFSI) is quarterly index of propriety and public factors that together give an objective look at the financial pleasure or pain of the average American.
Published on July 28, 2016

Current PFP News

Newsletter In this issue: Forefield Alert: Update to Social Media Sharing Capabilities | Forefield Spotlight: Tax Resource Center
Published on July 28, 2016

Tax Ethics & Professional Standards

Overview This page provides guidance and information on tax ethics & professional standards for tax practice, as well as practice aids and resources to help members elevate their practices and maintain the highest ethical standards.
Published on July 28, 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 July 28, 2016

Treasury Department Circular No. 230

Professional Standards Treasury Regulations Circular 230 guidance, information, practice aids and other resources related to Circular 230, which govern a CPA’s practice before the Internal Revenue Service.
Published on July 28, 2016

Brexit Frequently Asked Questions (FAQs) & Answers for Tax Professionals

FAQ The UK vote to leave the EU, may have major implications for clients and tax practitioners. Here are answers to help address the most common questions raised by BREXIT.
Published on July 28, 2016

Brexit Resources for Tax Professionals

Overview Brexit resources for tax practitioners - Provides up-to-date information on Brexit developments and helps tax practitioners understand impacts on taxes, investments, and related international business issues to best serve their clients.
Published on July 28, 2016

International Taxation - Tax Planning Resources, Guides & Tools

Overview International Tax Planning - checklists, practice guides, and other tools and aids for members who specialize and/or want to know more about international taxation.
Published on July 28, 2016

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