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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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AICPA Member Discount Program

Article The AICPA offers discounts on products and services from premium brands to its members.
Published on September 30, 2016

2016 Peer Review Firm Terminations

Overview View a list of firms that were terminated from the AICPA Peer Review Program during 2016.
Published on September 30, 2016

Peer Review Webcast Archive Page

Webcast Archive Access archived Peer Review webcasts.
Published on September 29, 2016

AICPA Recommendations on Notice 2016-48, Implementation of PATH Act ITIN Provisions

Comment Letter The AICPA has provided recommendations to the IRS regarding Notice 2016-48, Implementation of the PATH Act ITIN Provisions.  Among the recommendations are a request for additional notice and outreach by the IRS to those taxpayers with expiring ITINs, allowing early renewal of ITINs set to automatically expire in later years,
Published on September 29, 2016

Tax Practice Management

Overview Tax Practice Management webpage that provides guidance, tools, resources, and learning opportunities. Also provides access to additional resources for tax section members around practice management.
Published on September 29, 2016

Archived Peer Review Board Open Session Meeting Materials and Highlights

Meeting Highlights 2015   January 2015 Materials for the January 27, 2015 Open Session Meeting Highlights from the January 27, 2015 Open Session Meeting May 2015 Materials for the May 5, 2015 O
Published on September 29, 2016

Archived Peer Review Standards

Professional Standards On this page, you'll find archives of the Peer Review Standards, Interpretations, Guidance and a summary of Peer Review.
Published on September 29, 2016

Integrate Succession into Your Firm Culture

Article The medium firm article in the September edition of The Practicing CPA, written by W. Allen Carroll, Jr., CPA/ABV, CFF, CVA and Morgan Cooper, discusses this firms approach to succession planning. The article describes how the firm invests heavily in their employees to build a strong pool of candidates for
Published on September 29, 2016

Center for Plain English Accounting

Overview The CPEA’s straight-forward and clear style of writing and speaking allows practitioners the opportunity to understand the applicability of this literature when they are preparing financial statements and/or when they are auditing, reviewing, and compiling those financial statements.
Published on September 29, 2016

TestHomeTR

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Published on September 29, 2016

Center for Plain English Accounting Webcasts

Webcast Upcoming schedule and archive for CPEA members so that webcasts can be viewed by those who cannot participate in the "live" programs.
Published on September 29, 2016

Press Homepage

Article
Published on September 29, 2016

Preparation, Compilation and Review Standards

Overview Statements on Standards for Accounting and Review Services (SSARSs) are issued by the AICPA Accounting and Review Services Committee (ARSC), learn more about the senior technical committee of the AICPA designated to issue pronouncements in connection with the unaudited financial statements or other unaudited financial information of a nonpublic entity.
Published on September 29, 2016

Tax

Overview AICPA is committed to promoting CPAs as the most trusted professional and premier providers of tax services. We offer information and resources related to tax return planning, preparation, examination and representation, with practice tools to assist with navigating the IRS, tax practice quality control and management, as well as guidance
Published on September 29, 2016

Tax Ethics & Professional Standards

Overview This page provides guidance and information on tax ethics & professional standards for tax practice, as well as practice aids and resources to help members elevate their practices and maintain the highest ethical standards.
Published on September 29, 2016

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