AICPA Professional Ethics Division Reports 


    The AICPA Professional Ethics Division serves the membership by performing investigations of engagements and noting and assisting with corrective action when violations of AICPA Professional Standards are discovered. These reviews are an ongoing process and the Division releases reports on its findings.

    Employee Benefit Plan Engagements

     

    The AICPA Professional Ethics Division has compiled the following list of deficiencies frequently found in its investigations of employee benefit plan audits over the last 2 years. Over that time, the division has completed 498 investigations, 101 of which were on employee benefit plan audits. Most often, the reporting, disclosure, and auditing errors have occurred as a result of a lack of experience and specific continuing professional education in this area and could have been detected by a quality control review of the financial statements and risk areas.

    Access the report.


    Governmental and Not-for-Profit Engagements

    The AICPA Professional Ethics Division has compiled the following list of deficiencies frequently found in its investigations of governmental and not-for-profit audits over the last 2 years. Over that time, the division has completed 498 investigations, 226 of which were on governmental and not-for-profit engagements. Most often, the reporting, disclosure, and auditing errors have occurred as a result of a lack of experience and specific continuing professional education in this area and could have been detected by a quality control review of the financial statements and risk areas.

    Access the report.

    The AICPA offers guidance and courses regarding the proper application of AICPA Professional Standards through our Audit Quality Centers, including the Governmental Audit Quality Center and the Employee Benefit Plan Audit Quality Center, as well as through our published guidance and continuing professional education offerings.




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