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The Auditing Standards Board is considering the issuance of this proposed statement on standards for attestation engagements to provide guidance to practitioners who are engaged to perform services related to management's written assertion about an entity's compliance with specified requirements. The proposed Statement provides guidance to assist the practitioner in: 1. Accepting an agreed-upon procedures or examination engagement. 2. Planning the engagement. 3. Obtaining an understanding of the internal control structure over compliance with specified requirements in an examination engagement. 4. Testing the entity's compliance with specified requirements. 5. Reporting on management's assertion. One significant applicability of the proposed guidance relates to auditors of insured depository institutions 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 Improvement Act of 1991. The proposed Statement would build upon the Statement on Standards for Attestation Engagements Attestation Standards (AICPA, Professional Standards, vol. 1, AT sec. 100).
Attest function (Auditing) -- Standards -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Board, "Proposed statement on standards for attestation engagements : compliance attestation ;Compliance attestation; Exposure draft (American Institute of Certified Public Accountants), 1993, Apr. 7" (1993). Statements of Position. 580.