The Public Company Accounting Oversight Board (PCAOB) issued guidance in the form of questions and answers (Qs & As) for auditors (www.pcaobus.org/standards/staff_questions_and_answers/index.asp).* The Public Company Accounting Oversight Board The Public Company Accounting Oversight Board (or PCAOB) (sometimes called "Peekaboo") is a private-sector, non-profit corporation created by the Sarbanes-Oxley Act, a 2002 United States federal law, to oversee the auditors of public companies. (PCAOB PCAOB Public Company Accounting Oversight Board ) issued guidance in the form of questions and answers (Qs & As) for auditors (www. pcaobus.org/standards/staff_questions_ and_answers/index.asp). They concern attest engagements relating to information that companies furnish under the SEC's XBRL Voluntary Financial Reporting Program on the EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. system (www.sec.gov/spotlight/xbrl. htm). The Qs & As provide independent auditors with performance and reporting guidance when the auditor is engaged to report on whether a company's voluntarily filed XBRL data accurately reflect the corresponding information in its official EDGAR filings. The AICPA AICPA See American Institute of Certified Public Accountants (AICPA). 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 (ASB) laid the groundwork for this guidance with its AT 101 Interpretation, Attest Engagements on Financial Information Included in XBRL Instance Documents, issued in September 2003. The AICPA XBRL Assurance Task Force soon will issue an illustrative examination program for practitioners. The SEC program does not require public companies to obtain an auditor's attestation regarding the XBRL data. But if a public company voluntarily chooses to obtain such an attestation, it should consult the PCAOB's Qs & As for practical guidance. |
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