Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

All of the SAS are being rewritten – here’s a good introduction

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The entire body of auditing standards are being rewritten. All of the rewrite will go into effect with our December 31, 2012 audits.  This entire project is referred to as The Clarity Project, which is producing what are called clarified standards.

There will be a lot of changes, both big and small. You would do well to start reading up on the issues. We have until we start field work early in 2013 to get up to speed. By the way, the audit report will have substantial revisions.

The June 2011 issue of the Journal of Accountancy has a great introduction:

Clarified Auditing Standards: The Quiet Revolution

I heartily recommend you read the article. Well worth your time. You can click on the Audits category in the right column of this blog for other discussions of the clarified standards.

Written by Jim Ulvog

June 3, 2011, 8:50 am at 8:50 am

Posted in Audits

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