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Archived 2009 Team or Review Captain Checklists 

Updates – 2009 Engagement Checklists and Practice Aids

The 2009 version of all documents are in PDF format. The PDF version will allow users to easily complete the checklists, eliminate formatting issues, allow users to save and print, and does not require the purchase of additional software. The latest version of Adobe Reader is available for free at http://www.adobe.com/products/acrobat/readstep2.html.

If you do not currently have a subscription for the manual or need to follow up on your subscription, you should contact the AICPA Store at www.cpa2biz.com.

General Notes:

Each section of the manual has been updated for the revised Peer Review Standards, effective January 1, 2009.

The Quality Control Questionnaires (sections 4300 and 4400) were updated in 2009. If the appropriate questionnaire is completed by the firm in adequate detail prior to January 1, 2009, 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. Reviewers should also note that although chapter 2 of the HUD audit guide has not been updated in its entirety as of the date of this checklist, HUD has issued two internal control illustrative auditor’s reports (Exhibits B and B-1) to incorporate terminology from SAS 112, Communicating Internal Control Related Matters Identified in an Audit.

Changes to ERISA Industry Codes

The ERISA Industry Codes have been revised for the 2009 documents. The codes no longer differentiate between limited and full scope audits. A separate code has been created for ESOP plans.

Additional Documentation

As with the previous checklists in MS Word, if additional documentation is necessary for any checklist or practice aid item, the reviewer should attach separate pages, with the additional documentation, to the checklist or practice aid.

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.

The 2009 documents must be used for all peer reviews commencing on or after January 1, 2009.

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Trusted Client Adviser Toolbox

Overview It is an exciting time in the profession and CPAs who look beyond traditional services and build on their Trusted Client Advisor role (consulting and advisory services) will grow their practice and enhance their value to clients!
Published on August 30, 2016

Professional Ethics General FAQs

FAQ Find answers to some of the most frequently asked questions received by the AICPA Ethics Division hotline over the years.
Published on August 30, 2016

FedEx Shipping

Article AICPA offers members discounts on FedEx Shipping services.
Published on August 30, 2016

Additional Legislative/Regulatory Topics

News Stay up to date on legislative and regulatory issues relating to a variety of personal financial planning matters.
Published on August 29, 2016

AICPA Membership CPE Requirements

Overview Basic Requirements for AICPA Regular members as of January 1, 2001.
Published on August 29, 2016

Accounting and Review Services Committee Overview

Overview ARSC is an AICPA senior committee for compilations or reviews and is designated to issue pronouncements in connection with the unaudited financial statements or other unaudited financial information of nonpublic entities.
Published on August 29, 2016

ARSC Meeting Materials and Highlights

Meeting Materials Meeting materials for meetings of the Accounting and Review Services Committee.
Published on August 29, 2016

Peer Review Exposure Drafts

Overview View or download pdf files of exposure drafts and comment letters related to proposed revisions to AICPA Peer Review standards and interpretations.
Published on August 29, 2016

Exposure Drafts

Exposure Draft Auditing and Attestation The Auditing Standards Board (ASB) develops and issues standards in the form of Statements on Auditing Standards, Statements on Standards for Attestation Engagements, and Statements on Quality Control Standards. The ASB uti
Published on August 29, 2016

Letters of Comment on Exposure Draft of Proposed SSARS 21 Section 90

Overview Comment Letter #1 - Florida Institute of CPAs Committee on Accounting Principles and Auditing Standards Comment Letter #2 - RSM US LLP Comment Letter #3 - National Association of State Board of Accountancy
Published on August 29, 2016

Allowing Firms With No AICPA Members to Enroll in the Peer Review Program Exposure Draft Comment Letters

Comment Letters Download a pdf file of the Allowing Firms With No AICPA Members to Enroll in the Peer Review Program Exposure Draft comment letters.
Published on August 29, 2016

Peer Review For Large Firms

Overview On the Peer Review page for Medium Firms, you can download the enrollment form, the change form, find a course that helps you prepare for your upcoming peer review, or find information on selecting a peer reviewer.
Published on August 29, 2016

Peer Review For Medium Firms

Overview On the Peer Review page for Medium Firms, you can download the enrollment form, the change form, find a course that helps you prepare for your upcoming peer review, or find information on selecting a peer reviewer.
Published on August 29, 2016

Peer Review For Sole Practitioners and Small Firms

Overview On the Peer Review page for Sole Practitioners and Small Firms, you can download the enrollment form, the change form, find a course that helps you prepare for your upcoming peer review, or find information on selecting a peer reviewer.
Published on August 29, 2016

1040 Tax Return Status National Average July Update

Report Compare your 1040 tax returns status reports with this dashboard that provides year over year comparison of key data points (# of individual 1040 tax returns completed, in process, and not started) as reported by users of XCM's workflow solution.
Published on August 29, 2016

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