The following toolkits were developed as resources to support you in the implementation of newer standards and the communication of these standards within your firm and to your clients. These toolkits are not meant to replace the guidance and direction outlined in the actual standards but instead provide a foundation of education and communication of which to build upon with more in depth technical guidance.
Exploring SSARS No. 21 Toolkit
The PCPS Exploring SSARS No. 21 Toolkit provides insight into the key points of the standard and helps you apply It in your reviews, compilations, and engagements to prepare financial statements. The toolkit contains resources that summarize what’s new or different, help you get your staff up-to-speed on the changes and communicate with clients.
Invigorate the Focus on Quality Toolkit
Take a fresh look at the quality control processes and procedures in your practice with the resources in this toolkit. You’ll find a checklist to help ensure the tone at the top reinforces a commitment to quality along with client acceptance and continuance tools, staff training resources and a look at trending issues in peer review. Other tools are being developed to help your firm and it’s focus on quality.
2013 COSO Framework Update Toolkit
The COSO Framework has been updated to address changes in the business environment in the 20 years since the original framework was released. The PCPS toolkit provides resources to introduce you to changes in the framework, how your clients and your firm will be impacted and takes a look at services you may want to offer your clients to help strengthen their internal control systems.
FRF for SMEs Toolkit
The Financial Reporting Framework for Small and Medium Entities (FRF for SMEs) provides an opportunity for your firm to showcase your role as the trusted business advisor to Main Street businesses. Use the resources in the FRF for SMEs Toolkit to learn about this reporting framework that meets the unique reporting needs of owner-managed private companies that don’t require GAAP financial statements.
Clarified Auditing Standards Toolkit
The Clarified Auditing Standards are effective for engagements to audit financial statements for periods ending on or after December 15, 2012. These standards impact engagements at all phases. You can use the toolkit resources to learn about the changes, train your staff and communicate with clients about the changes that impact them.
PCPS Independence Toolkit
CPAs must be ever so vigilant to understand the meaning of true independence. As a refresher or a tool for training, elements of this toolkit can help you and your team members apply the latest independence rules to everyday practice.