AICPA issues ED on compliance attestation.The American Institute of CPAs auditing standards board In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public issued an exposure draft of a proposed Statement on Standards for Attestation Engagements (SSAE SSAE Statement on Standards for Attestation Engagements (auditing) SSAE Stamped Self-Addressed Envelope SSAE Standard South African English SSAE Society Of Senior Aerospace Executives (Washington, DC) ), Compliance Attestation. The ED supplements the SSAE titled Attestation Standards. The ED provides guidance to practitioners engaged to report on management's written assertion about either an entity's compliance with requirements of specified laws, regulations, rules, contracts or grants or the effectiveness of its internal control structure. The guidance assists practitioners in * Accepting an engagement involving agreed-upon procedures or examinations. * Planning the engagement. * Obtaining an understanding of the internal control structure over compliance with requirements in an examination engagement. * Testing the entity's compliance with specified requirements. * Reporting on man assertion. The proposed guidance is of particular significance to insured depository institution Depository institution A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. auditors who perform agreed-upon procedures to test the entity's compliance with specified safety and soundness laws, as required by the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. Improvement Act of 1991. Copies of the ED (product no. 800046) are available from the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). order department at 1-800-TO-AICPA. Written comments are due by June 30, 1993, and should be sent to Walton T. Conn, Jr., practice fellow, auditing standards division, file 2377, AICPA, 1211 Avenue of the Americas, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10036-8775. |
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