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Audit, Attest & Quality Control Standards

The information and resources here will help you stay informed regarding audit, attest, and quality control standards and guidance.

The Auditing Standards Board (ASB) promulgates Statements on Auditing Standards (SAS), Statements on Standards for Attestation Engagements (SSAE) and Statements on Quality Control Standards (SQCS), and, as a part of its due process, releases Exposure Drafts of proposed standards. The AICPA also issues interpretive and other publications to assist practitioners in understanding and applying the standards.

The AICPA has developed a comparative overview of the differences between financial statement preparation, compilation, review, and audits.

ASB and projects

The ASB is the senior committee of the AICPA designated by Council to issue auditing, attestation, and quality control standards and practice guidance for performing and reporting on audit and attestation engagements for nonissuers (that is, entities not included within the jurisdiction of the Public Company Accounting Oversight Board, or PCAOB).

Learn more about the ASB’s operating policies, strategic plan and work plan, standard-setting efforts, and current members.

Recently issued ASB standards – not yet effective

AICPA Statement on Auditing Standards No. 148

SAS No. 148 amends SAS No. 117, as amended.

AICPA Statement on Auditing Standards No. 147

SAS No. 147 amends SAS No. 122, Statements on Auditing Standards: Clarification and Recodification, as amended, section 210, Terms of Engagement.

AICPA Statement on Quality Management Standards No. 2

SQMS No. 2 creates QM section 20, Engagement Quality Reviews, in AICPA Professional Standards.

AICPA Statement on Quality Management Standards No. 1

SQMS No. 1 supersedes Statement on Quality Control Standards No. 8, as amended.

AICPA Statement on Auditing Standards No. 146

SAS No. 146 supersedes SAS No. 122, as amended, section 220, and amends various standards, including SAS No. 122, SAS No. 134, and SSAE No. 18, as amended.

AICPA Statement on Auditing Standards No. 145

SAS No. 145 supersedes SAS No. 122, as amended, section 315; and amends various SASs, as amended, including various sections in SAS No. 122, as amended.

AICPA Statement on Auditing Standards No. 144

SAS No. 144 amends SAS No. 122, as amended, sections 501 and 620, and SAS No. 143.

AICPA Statement on Auditing Standards No. 143

SAS No. 143 supersedes SAS No. 122, as amended, section 540; amends various AU-C sections in SAS No. 122, as amended, SAS No. 134, as amended, and SAS No. 136.

AICPA Statement on Auditing Standards No. 142

SAS No. 142 supersedes SAS No. 122, as amended, section 500, Audit Evidence; amends various AU-C sections in SAS No. 122, as amended.

AICPA Statement on Standards for Attestation Engagements No. 22

SSAE No. 22 supersedes SSAE No. 18, as amended, AT-C section 210 of the same title.

AICPA Statement on Standards for Attestation Engagements No. 21

SSAE No. 21 creates AT-C section 206; supersedes SSAE No. 18, as amended, AT-C section 205 and amends SSAE No. 18, as amended, AT-C section 105.

At a Glance and other resources for ASB standards – not yet effective

SAS No. 148 At a Glance

The At a Glance about SAS No. 148 provides a high-level summary about this SAS and its effective date provisions.

SAS No. 147 At a Glance

The At a Glance about SAS No. 147 provides a high-level summary about this SAS and includes a flowchart that illustrates the narrow revisions to GAAS.

SQMS Nos. 1 – 2, SAS No. 146, and SSARS No. 26 At a Glance

The At a Glance about SQMS Nos. 1–2, SAS No. 146, and SSARS No. 26 provides a high-level summary of the changes resulting from the issuance of these standards.

Executive summary of SQMS Nos. 1 – 2 and SAS No. 146

The executive summary of SQMS Nos. 1 – 2 and SAS No. 146 summarizes the changes to the quality control standards.

Crosswalk between SQMS No. 1 and SQCS No. 8, as amended

The crosswalk summarizes the changes between Statement on Quality Management Standards No. 1 and Statement on Quality Control Standards No. 8, as amended.

SAS No. 145 At a Glance

The At a Glance about SAS No. 145 summarizes how SAS No. 145 enhances certain requirements and guidance, and includes revised and new requirements and guidance.

SAS No. 144 At a Glance

The At a Glance about SAS No. 144 summarizes the most significant changes to AU-C sections 501, 540, and 620 in AICPA Professional Standards.

SAS No. 143 At a Glance

The SAS No. 143 At a Glance summarizes how auditors can appropriately address complex scenarios that arise from new accounting standards that include estimates.

Linkages between SAS No. 143 (AU-C sec. 540) and other AU-C sections

This diagram shows the interrelationship of the requirements in AU-C section 540 and the requirements in other AU-C sections.

SAS No. 142 At a Glance

The At a Glance about SAS No. 142 summarizes how SAS No. 142 addresses the evolving nature of transacting business as well as the evolution of audit services.

SSAE No. 22 At a Glance

The At a Glance about SSAE No. 22 summarizes the revision of AT-C section 210 for consistency with AT-C section 205, Assertion-Based Examination Engagements.

SSAE No. 21 At a Glance

The SSAE No. 21 At a Glance summarizes new AT-C section 206, superseding AT-C section 205, and amending AT-C section 105 in AICPA Professional Standards.

ASB standards – currently effective

This section includes the following standards and related interpretations that are current as of June 1, 2021, in codified format:

ASB exposure drafts

The ASB develops and issues standards in the form of Statements on Auditing Standards, Statements on Standards for Attestation Engagements, and Statements on Quality Management Standards. View a complete listing of exposure drafts outstanding.

Auditing and attestation interpretations and Statements of Position

From time to time, the AICPA issues interpretations of generally accepted auditing standards (GAAS) and SSAEs, respectively, as well as Statements of Position (SOP). Interpretations and SOPs are interpretive publications, as defined in AU-C section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards, and AT-C section 105, Concepts Common to All Attestation Engagements, respectively.

Learn more about recently issued auditing and attestation interpretations and SOPs.

Auditing and attestation Technical Questions and Answers

The AICPA also issues Technical Questions and Answers (TQAs). This publication provides nonauthoritative information on issues relating to accounting and financial reporting; auditing and attestation; and preparation, compilation, and review standards. TQAs are not sources of established authoritative principles. The material is based on selected practice matters identified by the AICPAstaff and various bodies within the AICPA and are not approved, disapproved, or otherwise acted upon by any senior committee of the AICPA.

Learn more about AICPA Technical Questions and Answers.

Auditing and attestation practice aids and frequently asked questions

Practice Aids and Frequently Asked Questions (FAQs) are other auditing publications as defined in AU-C section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards, and are nonauthoritative. In applying the auditing guidance included in an other auditing publication, the auditor should exercise professional judgment and assess the relevance and appropriateness of such guidance to the circumstances of the audit.

Learn more about the practice aids on digital assets and environmental, social, and governance (ESG).

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