Audit and Accounting Manual
Audit and Accounting Manual is developed exclusively for small- and medium-sized CPA practices and contains useful techniques and procedures conducted by engagement practitioners. The manual explains in a practical, plain English format engagement steps, including planning and performing procedures and issuing reports. It also provides guidance for internal controls, audit documentation guidelines, and illustrative reports for confirmation letters, engagement and representation letters, and auditor's reports.
Technical Practice Aids
Audit and Accounting Manual also includes all Audit Risk Alerts published by the AICPA, including Audit Risk Alert Understanding the Responsibilities of Auditors for Audits of Group Financial Statements, Audit Risk Alert General Accounting and Auditing Developments, and Audit Risk Alert Understanding the Clarified Auditing Standards. Audit Risk Alerts keep auditors updated on recent practice issues and professional standards that affect industry specific engagements. Audit Risk Alerts also help auditors identify significant business risks that may result in the material misstatement of a client's financial statements.
This manual has been fully conformed to reflect the new standards resulting from the Clarity Project. Fully incorporating the clarified auditing standards into this year’s edition of the manual enables auditors to further their understanding of these recently issued auditing standards, as well as begin updating their audit methodologies, resources, and tools prior to the clarified auditing standards’ effective date. Additionally, this approach gives auditors the opportunity to review and understand the changes made by their third-party audit methodology and resource providers, if applicable. The clarified auditing standards are effective for audits of financial statements for periods ending on or after December 15, 2012 (calendar year 2012 audits). Auditors should continue to use the previous edition of this manual (2011 edition) until the clarified auditing standards become effective for the auditors’ engagements.
The AICPA publishes guidance in both electronic and print formats, designed to be useful wherever you are—in the office, in the field, or on the go.
Technical Practice Aids is a source of various authoritative and nonauthoritative or implementation guidance issued by the AICPA and the Public Company Accounting Oversight Board (PCAOB). Technical Practice Aids includes
- questions and answers issued by the AICPA on a variety of accounting, auditing, and industry topics.
- implementation guidance issued by the staff of the PCAOB.
- Trust Services Principles, Criteria, and Illustrations.
- AICPA auditing and attestation Statements of Position.
Recently issued technical staff questions and answers are available on a variety of topics.
In addition, the electronic and print formats, designed to be useful wherever you are—in the office, in the field, or on the go.
Practice Aids are intended to provide financial statement preparers and auditors with practical guidance related to unique accounting and auditing issues.
Practice Aids are available for a number of industries and key topics, including the following subject areas. Select the industry or topic for more information and additional publications, or select "Buy Now" if you are ready to purchase the Practice Aid.