Audit and Attest

Audit and Attest 

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If you perform audit and attest engagements, the information and resources here will help you stay informed of changes to audit and attest standards, perform your engagements, and be aware of common pitfalls in these engagements.

The Auditing Standards Board promulgates Statements on Auditing Standards (SAS), Statements on Standards for Attestation Engagements (SSAE) and Statements on Quality Control Standards (SQCS), and, as a part of its due process, releases Exposure Drafts of proposed standards. The AICPA also issues interpretive and other publications to assist practitioners in understanding and applying the standards.

Hot Topics

ASB Issues SSAE No. 18 and Completes Attestation Clarity Project

The AICPA’s Auditing Standards Board (ASB) has completed its clarity project with the issuance of Statement on Standards for Attestation Engagements (SSAE) No. 18, Attestation Standards: Clarification and Recodification, which clarifies the SSAEs (also known as the attestation standards).

The attestation standards establish requirements for performing and reporting on examination, review, and agreed-upon procedures engagements that enable practitioners to report on subject matter other than historical financial statements, for example, an entity’s compliance with laws or regulations, the effectiveness of an entity’s controls over the security of a system, and the fairness of the presentation of a statement of greenhouse gas emissions.

SSAE No. 18 is effective for practitioners’ reports dated on or after May 1, 2017.

Learn more about the AICPA Attest Clarity Project.

SAS No. 131 Issued to Clarify Jurisdictional Issues in Auditor Reporting Requirements

The Auditing Standards Board has issued SAS No. 131, Amendment to Statement on Auditing Standards No. 122 Section 700, Forming an Opinion and Reporting on Financial Statements (AICPA, Professional Standards, AU-C sec. 700), to clarify the format of the auditor’s report that should be issued when the auditor conducts an audit in accordance the standards of the PCAOB, but the audit is not under the jurisdiction of the PCAOB.

The amendments are effective for audits of financial statements for periods ending on or after June 15, 2016; however, application of the SAS before the effective date is permitted.

Access the Executive Summary.

For more information visit the AICPA's Auditing Clarity Project area.

Illustrative Service Auditor’s Report In Accordance With AT 801 and ISAE 3402

The Service Organizations Task Force of the AICPA’s Auditing Standards Board has developed an illustrative service auditor’s report for use when a service auditor is reporting on a description of a service organization’s system and the suitability of the design and operating effectiveness of controls (type 2 report) under both AT section 801, Reporting on Controls at a Service Organization (AICPA, Professional Standards), and International Standard on Assurance Engagements (ISAE) 3402, Assurance Reports on Controls at a Service Organization. The illustrative report is intended for reports dated on or after December 15, 2015.

Clarified Auditing Standards and PCAOB Standards

The AICPA has developed a member benefit resource, included with AICPA Guide publications, which identifies PCAOB standards, or sections of PCAOB standards, that broadly correspond with the clarified auditing standards promulgated by the Auditing Standards Board of the AICPA and contained in Professional Standards. Although, the underlying content within the clarified standards and PCAOB standards may not be analogous, this document should be helpful to practitioners as a general comparison tool. In using this resource, the AICPA encourages users to review the full text of the corresponding PCAOB standards, review the related releases (available in the AICPA’s publication PCAOB Standards and Related Rules or at and use professional judgment to identify all guidance applicable to their engagements.

ASB Issues Statement on Auditing Standards No. 130

The AICPA Auditing Standards Board has issued SAS No. 130, An Audit of Internal Control Over Financial Reporting That Is Integrated With an Audit of Financial Statements, to establish requirements and provide guidance that applies only when an auditor is engaged to perform an audit of internal control over financial reporting (ICFR) that is integrated with an audit of financial statements (integrated audit). SAS No. 130 becomes effective for integrated audits for periods ending on or after December 15, 2016. At that time, SSAE No. 15, An Examination of an Entity's Internal Control Over Financial Reporting That Is Integrated With an Audit of Its Financial Statements, and its related attestation interpretation, "Reporting Under Section 112 of the Federal Deposit Insurance Corporation Improvement Act" (AICPA, Professional Standards, AT sec. 501 and 9501), will be withdrawn, and amendments to various sections in SAS No. 122, Statements on Auditing Standards: Clarification and Recodification, will take effect. The ASB will consider developing an attestation standard addressing examinations of internal control other than ICFR that is integrated with an audit of financial statements at a later date.

Standards Tracker

In an effort to keep its members informed, the AICPA has created a Standards Tracker. This tool will keep members up to date regarding the most recent guidance made available by standard setters, filtered in order to give you only what you need to know.


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