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Member Only Content

2012 Team and Review Captain Checklists 

Please use the 2012 checklists for reviews commencing on or after January 1, 2012.

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 January 2012 release of the Peer Review Program Manual will be mailed to subscribers by the end of December 2011.  If you have not received your update by January 15, 2012, 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.  You 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 2010-25.

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. 8, effective January 1, 2012. 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.

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

You should now complete the supplemental checklists for engagement reviews, or document the reason(s) you did not in the Review Captain’s Checklist.  For reviews of compilations that omit substantially all disclosures, you 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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