Three exposure drafts issued; comments due this month.The AICPA's 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 recently issued three exposure drafts. All of them have comment deadlines during Sept. A proposed statement on quality control standards, A Firm's System of Quality Control, would supersede all existing SQCSs. The proposed SQCS SQCS Statements on Quality Control Standards establishes standards and provides guidance for a CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. firm's responsibilities for its system of quality control for its accounting and auditing practice. It describes elements of quality control and other matters essential to the effective design, implementation and maintenance of the system. The proposed SQCS also sets forth the meaning of certain terms used in SQCSs issued by the ASB ASB Asbestos ASB Arbeiter Samariter Bund (German medical help organisation) ASB Anti-Social Behaviour ASB Accounting Standards Board (UK FRC) ASB Aarhus School of Business in describing the professional requirements imposed on firms and practitioners-in-charge. Comments are due Sept. 30. Also issued for exposure was a proposed statement on auditing standards entitled Omnibus 2006. The Omnibus includes proposed revisions to existing SASs that have been accumulated over a period of time. Comments are due Sept. 15. A proposed statement on standards for attestation engagements titled 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) Hierarchy was released as well. The proposed SSAE: (i) identifies the body of attest literature; (ii) clarifies the authority of attest publications issued by the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). and others; (iii) specifies which attest publications the practitioner must comply with and those he or she should be aware of when conducting an attest engagement; (iv) amends the 11 attestation standards to conform them with the use of terms established in SSAE No. 13, Defining Professional Requirements" in Statements' on Standards for Attestation Engagements. The comment period ends Sept. 15. All three exposure drafts are available at: [website] www.aicpa.org/members/div/auditstd/drafts.htm |
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