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# A Deep Dive into the AICPA EBP Audit Guide 2022: Enhancing Audit Quality in the Digital Age
The AICPA (American Institute of Certified Public Accountants) EBP Audit Guide 2022 represents a significant milestone in the evolution of auditing practices. This guide, focusing on the use of Evidence-Based Practice (EBP) in audits, reflects the ever-changing landscape of accounting and the increasing reliance on technology and data analytics. This analysis will explore its historical context, current relevance, key components, and future implications.
Historical Context: The Rise of Evidence-Based Practice in Auditing
Before the formalization of the AICPA EBP Audit Guide 2022, auditing relied heavily on traditional methods, often lacking the rigorous, data-driven approach championed by EBP. The increasing complexity of business operations, coupled with the rise of sophisticated accounting software and Big Data, necessitated a paradigm shift. Auditors needed a framework to effectively utilize the vast amounts of data available, ensuring a more thorough and efficient audit process. Prior AICPA guidance touched on aspects of data analytics, but the 2022 guide provides a more comprehensive and integrated approach, emphasizing the importance of using the best available evidence to support audit judgments. This move towards EBP is a response to the increasing demands for higher audit quality and greater assurance to stakeholders.
Author and Publisher: Ensuring Credibility and Authority
While the AICPA EBP Audit Guide 2022 doesn't have a single author in the traditional sense, it's the product of a collaborative effort by numerous accounting professionals within the AICPA. These individuals possess extensive experience in auditing, accounting, and data analytics, contributing their expertise to develop a robust and practical guide. The publisher is the AICPA itself, a globally recognized professional organization for CPAs. Their authority on auditing standards and best practices is unquestionable, making the guide a highly credible resource for audit professionals worldwide. The AICPA’s long-standing commitment to setting professional standards and advancing the accounting profession lends significant weight and authority to the AICPA EBP Audit Guide 2022. The involvement of numerous experienced practitioners ensures a practical and relevant approach is adopted.
Key Components of the AICPA EBP Audit Guide 2022
The AICPA EBP Audit Guide 2022 provides detailed guidance on how to integrate EBP into various stages of the audit process. Key components include:
Defining the Audit Question: The guide emphasizes the importance of clearly articulating the audit question before embarking on the audit process. This ensures that the evidence gathered is relevant and targeted.
Identifying and Evaluating Evidence: It outlines methods for identifying and evaluating various types of audit evidence, including both traditional sources and data analytics. This section stresses the importance of considering the quality, reliability, and relevance of the evidence.
Data Analytics in Auditing: A significant portion of the guide is dedicated to the application of data analytics techniques in auditing. It provides practical guidance on using data analytics to identify anomalies, assess risks, and enhance the efficiency of the audit process. This aspect of the AICPA EBP Audit Guide 2022 is particularly crucial in the context of increasing data volumes and the prevalence of advanced analytics tools.
Documentation and Communication: The guide highlights the importance of proper documentation of the evidence gathered and the methodology used, ensuring transparency and auditability. Effective communication of audit findings to stakeholders is also emphasized.
Professional Skepticism: Throughout the guide, the importance of maintaining professional skepticism is repeatedly stressed. Auditors are urged to critically evaluate the evidence gathered and not to rely solely on management representations.
Current Relevance of the AICPA EBP Audit Guide 2022
The AICPA EBP Audit Guide 2022 remains highly relevant in today's rapidly evolving audit environment. The increasing use of technology and data analytics in business operations requires auditors to adapt and leverage these advancements to improve audit quality and efficiency. The guide provides a framework for doing so, helping auditors navigate the complexities of data analysis and integrate it seamlessly into their audit procedures. The guide's emphasis on evidence-based decision-making aligns perfectly with the current focus on enhancing audit quality and reducing audit risk. The principles outlined in the guide are applicable across various industries and audit engagements, ensuring its broad relevance.
Summary of Main Findings and Conclusions
The AICPA EBP Audit Guide 2022 is a pivotal document that promotes a significant shift in auditing towards a more data-driven and evidence-based approach. It emphasizes the need for a systematic and rigorous process for gathering and evaluating evidence, leveraging the power of data analytics while maintaining professional skepticism. The guide’s practical guidance on implementing EBP in audits makes it an invaluable resource for audit professionals, enhancing their ability to perform higher-quality audits in a complex and dynamic environment.
Editor's Qualifications
While the AICPA EBP Audit Guide 2022 doesn't list a single editor in the traditional sense, it's understood that a team of senior AICPA members and subject matter experts with extensive experience in auditing and data analytics were involved in the review and editing process. These individuals possess deep knowledge of auditing standards and the practical application of data analytics in audit settings, guaranteeing the accuracy and relevance of the guide's content.
Conclusion
The AICPA EBP Audit Guide 2022 serves as a crucial tool for audit professionals seeking to enhance their audit procedures using evidence-based practices. Its comprehensive approach to integrating data analytics and maintaining professional skepticism ensures the delivery of higher-quality audits. As technology continues to advance, the guide’s emphasis on adapting to the evolving audit landscape makes it a lasting resource for the accounting profession.
FAQs
1. What is the primary purpose of the AICPA EBP Audit Guide 2022? To provide guidance on integrating evidence-based practice, including data analytics, into audit procedures to enhance audit quality and efficiency.
2. Who is the target audience for this guide? Certified Public Accountants (CPAs), audit professionals, and anyone involved in the audit process.
3. How does the guide address the use of data analytics in auditing? It provides practical guidance on various data analytics techniques applicable to auditing, including data extraction, cleansing, analysis, and visualization.
4. What is the role of professional skepticism in the context of this guide? Maintaining professional skepticism throughout the audit process is emphasized, urging auditors to critically evaluate evidence and not rely solely on management assertions.
5. How does the guide contribute to enhancing audit quality? By promoting a systematic and rigorous approach to evidence gathering and evaluation, leading to more informed and reliable audit conclusions.
6. Is the guide applicable to all types of audits? Yes, the principles and techniques outlined are applicable across various industries and audit engagements.
7. Where can I access the AICPA EBP Audit Guide 2022? It can be accessed through the AICPA's website or other authorized resources.
8. How often is the guide updated? The AICPA regularly updates its guidance to reflect changes in accounting standards and best practices, so check the AICPA website for the most current version.
9. What are the key differences between the AICPA EBP Audit Guide 2022 and previous guidance on data analytics? The 2022 guide offers a more comprehensive and integrated approach, providing a complete framework for implementing EBP in auditing, rather than focusing on isolated data analytics techniques.
Related Articles
1. Data Analytics in Auditing: A Practical Guide: This article focuses on the practical application of data analytics techniques discussed in the AICPA EBP Audit Guide 2022, providing real-world examples and case studies.
2. Enhancing Audit Quality through Evidence-Based Practice: This article explores the broader implications of EBP in auditing, examining its impact on audit quality, risk assessment, and stakeholder confidence.
3. The Role of Professional Skepticism in the Age of Data Analytics: This article examines the importance of maintaining professional skepticism when using data analytics in auditing, highlighting potential biases and limitations.
4. Implementing the AICPA EBP Audit Guide 2022: A Step-by-Step Approach: This article provides a practical, step-by-step guide to implementing the principles and techniques outlined in the AICPA guide.
5. Comparing Traditional Auditing Methods with EBP Techniques: This article compares and contrasts traditional audit methodologies with evidence-based approaches highlighted in the AICPA EBP Audit Guide 2022.
6. Case Studies: Successful Application of EBP in Audits: This article presents case studies showcasing successful applications of EBP principles and data analytics in real-world audit engagements.
7. Addressing Audit Risk in a Data-Driven World: This article discusses the evolving nature of audit risk in the digital age and how the AICPA EBP Audit Guide 2022 helps mitigate these risks.
8. The Future of Auditing: EBP and Beyond: This article explores future trends in auditing, including the potential impact of emerging technologies and the continued evolution of EBP.
9. Regulatory Compliance and the AICPA EBP Audit Guide 2022: This article examines how the guide supports compliance with relevant regulations and standards.
| aicpa ebp audit guide 2022: Audit Risk Alert AICPA, 2019-06-12 The increasing complexity of employee benefit plan auditing and focus by the Department of Labor have resulted in significant pressure for CPAs and firms performing EBP audits. To help CPAs meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this alert to assist in identifying current sources of risk within EBP audit engagements. Written by a task force consisting of current and former employee benefit plan expert panel members, this alert features discussions on new developments and issues that auditors may face in their current audits, as well as a look at what's in the pipeline that may affect your engagements. Updates in 2019: FASB ASU No. 2017-06, Employee Benefit Plan Master Trust Reporting FASB ASU No. 2018-09, Codification Improvements FASB ASU No. 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework–Changes to the Disclosure Requirements for Fair Value Measurement |
| aicpa ebp audit guide 2022: Audit Risk Alert AICPA, 2018-06-19 Developed by a task force consisting of current and former employee benefit plan expert panel members, this alert offers a range of topics such as master trust reporting, cybersecurity, new proposed auditor's reports, electronic information, limited-scope certification, and new auditing standards such as PCAOB AS 3101. The increasing complexity of employee benefit plan auditing and increased focus by the DOL have resulted in significant pressure for CPAs and firms performing EBP audits. To help accountants meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this alert to assist them in identifying current sources of risk within EBP audit engagements. Accountants will find a targeted discussion on new developments, issues auditors may face in their current audits, as well as a look at what's in the pipeline that may affect your engagements. Key benefits of this work include: Coverage of emerging practice issues, including direct versus indirect investment in fully benefit-responsive investment contracts, readily determinable fair value, disclosures for investments in certain entities that calculate NAV per share (or its equivalent), plan expenses, and repurchase agreements An in-depth look at master trust reporting, electronic information and the new PCAOB auditing standard AS 3101 Analysis of high risk areas specific to defined benefit pension plans, such as pension benefit guaranty corporation premiums and reporting, demographic and economic assumptions, and pension risk management Current developments on health and welfare plans, including health care reform and its effect on employee benefit plans Up-to-date information on regulatory development from both the DOL and IRS |
| aicpa ebp audit guide 2022: Audit Risk Alert AICPA, 2017-09-08 The increasing complexity of employee benefit plan auditing and increased focus by the DOL have resulted in significant pressure for CPAs and firms performing EBP audits. To help CPAs meet the challenge of performing quality audits in this unique and complex area, the AICPA has developed this alert to assist in identifying current sources of risk within EBP audit engagements. A targeted discussion on new developments, issues auditors may face in their current audits, as well as a look at what’s in the pipeline that may affect their engagements is provided. Updates include: FASB ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) FASB ASU No. 2015-10, Technical Corrections and Improvements FASB ASU No. 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (part I) Fully Benefit-Responsive Investment Contracts, (part II) Plan Investment Disclosures, (part III) Measurement Date Practical Expedient FASB ASU No. 2017-06, Employee Benefit Plan Master Trust Reporting FASB ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities |
| aicpa ebp audit guide 2022: AICPA Audit and Accounting Guide State and Local Governments AICPA, 2017-09-25 With all the recent changes in state and local government audit and accounting, including changes to some of the more complex areas such as pensions and postemployment benefits other than pensions (OPEB), you can't afford to be without the most current guidance. This authoritative guide provides complete coverage of audit and accounting considerations critical for both preparers and auditors. This 2017 edition includes a new chapter on best practices for OPEB accounting, reporting, and auditing. It also provides insights, comparisons, and best practices for financial reporting and the financial reporting entity, revenue and expense recognition, capital asset accounting, the elements of net position, accounting for fair value, and much more. |
| aicpa ebp audit guide 2022: Audit and Accounting Guide: Employee Benefit Plans AICPA, 2016-11-21 Considered the industry standard resource, this guide provides practical guidance, essential information and hands-on advice on the many aspects of accounting and authoritative auditing for employee benefit plans. This new 2016 edition is packed with information on new requirements — including the simplification of disclosure requirements for investments in certain entities that calculate net asset value per share (or its equivalent), the simplification of disclosures for fully benefit-responsive investment contracts, plan investment disclosures, and measurement date practical expedient, and a new employee stock ownership plans chapter that includes both accounting and auditing. |
| aicpa ebp audit guide 2022: Guide AICPA, 2017-05-15 Ensure you have the most current authoritative guidance related to Prospective Financial Information. AICPA Audit & Accounting Guides are developed and updated to provide guidance and discussions specific to current industry developments and trends. The 2012 Prospective Financial Information Guide provides information for entities that prepare prospective financial information, as well as practitioners who compile, examine and perform other agreed upon procedures on prospective financial information. This AICPA Guide has been fully conformed to reflect the new standards resulting from the Clarity Project. Fully incorporating the clarified auditing standards into this year’s edition of the guide enables auditors to further their understanding of these recently issued auditing standards, as well as begin updating their audit methodologies, resources, and tools prior to the clarified auditing standards’ effective date. Additionally, this approach gives auditors the opportunity to review and understand the changes made by their third-party audit methodology and resource providers, if applicable. The clarified auditing standards are effective for audits of financial statements for periods ending on or after December 15, 2012 (calendar year 2012 audits). This guide includes relevant guidance contained in applicable standards and other technical sources. Illustrative engagement letters, representation letters and sample reports are also included. The appendixes include excerpts from the SEC rules regarding financial projections and IRS regulations regarding tax shelter opinions. All content is reviewed by industry experts and the appropriate AICPA senior committee. |
| aicpa ebp audit guide 2022: Audit Guide AICPA, 2018-05-15 This annual edition provides accountants and other financial professionals with assistance in understanding and applying the special considerations required in a single audit. It is an indispensable resource for auditors performing Yellow Book audits. This new edition provides up-to-date information and expert guidance on single audits and Uniform Guidance compliance audit requirements, including example auditor reports for both the reporting required under Government Auditing Standards and the Uniform Guidance compliance audit. |
| aicpa ebp audit guide 2022: Audit Guide AICPA, 2017-09-08 This new edition provides up-to-date information and expert guidance on single audits and Uniform Guidance compliance audit requirements, including example auditor reports for both the financial statement audit and the Uniform Guidance compliance audit. It provides nonfederal entities receiving federal awards with important information on implementing the Uniform Guidance. |
| aicpa ebp audit guide 2022: Knowledge-Based Audits of Health Care Entities Michael F. Garczynski, 2008-02 |
| aicpa ebp audit guide 2022: AICPA Audit Guide Aicpa, United States. Government Accountability Office, 2010-05-01 |
| aicpa ebp audit guide 2022: Audit and Accounting Guide AICPA, 2019-04-23 ASC 606, Revenue from Contracts with Customers, replaces almost all previously existing revenue recognition guidance, including industry-specific guidance. That means unprecedented changes, affecting virtually all industries and all size organizations. For preparers, this guide provides the comprehensive, reliable accounting implementation guidance you need to unravel the complexities of this new standard. For practitioners, it provides in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Recent audit challenges are spotlighted to allow for planning in avoiding these new areas of concern. This guide includes 16 industry-specific chapters for the following industries: Aerospace and Defense, Airlines, Asset Management, Broker-Dealers, Construction Contractors, Depository Institutions, Gaming, Health Care, Hospitality, Insurance, Not-for-Profits, Oil and Gas, Power and Utility, Software, Telecommunications, and Timeshare. |
| aicpa ebp audit guide 2022: AICPA Professional Standards: Accounting American Institute of Certified Public Accountants, 1974 |
| aicpa ebp audit guide 2022: Audit and Accounting Guide: Investment Companies AICPA, 2018-10-01 Whether you are a financial statement preparer or auditor, it is critical to understand the complexities of the specialized accounting and regulatory requirements for investment companies. This 2018 guide provides authoritative how-to accounting and auditing advice, including implementation guidance and illustrative financial statements and disclosures. This guide is the industry standard resource, supporting practitioners in a constantly changing industry landscape packed with continuous regulatory developments. Updates include: References to appropriate AICPA Technical Questions and Answers that address when to apply the liquidation basis of accounting. Appendices discussing the new standards for financial instruments, leases and revenue recognition. Appendices discussing common or collective trusts and business development companies. |
| aicpa ebp audit guide 2022: Audit and Accounting Guide AICPA, 2019-08-14 State and local government audit and accounting is changing rapidly. This title features insights, comparisons, and best practices for some of the more complex areas such as pensions and post-employment benefits other than pensions (OPEB), this authoritative guide provides complete coverage of audit and accounting considerations critical for both preparers and auditors. This edition includes dual guidance for accountants and auditors early implementing GASB Statement No. 84, Fiduciary Activities. Topics covered also include: • Financial reporting and the financial reporting entity • Revenue and expense recognition • Capital asset accounting • The elements of net position • Accounting for fair value • Municipal securities offerings • Tax abatements |
| aicpa ebp audit guide 2022: The AICPA Audit and Accounting Guide Aicpa, American Institute of Certified Public Accountants. Oil and Gas Committee, 2007-01-01 |
| aicpa ebp audit guide 2022: Audit and Accounting Guide: Investment Companies, 2017 AICPA, 2017-10-09 Whether a financial statement preparer or auditor, it is critical to understand the complexities of the specialized accounting and regulatory requirements for investment companies. This guide supports practitioners in a constantly changing industry landscape. It provides authoritative how-to accounting and auditing advice, including implementation guidance and illustrative financial statements and disclosures. Packed with continuous regulatory developments, this guide has been updated to reflect certain changes necessary due to the issuance of authoritative guidance since the guide was originally issued, and other revisions as deemed appropriate. The updates for this 2017 edition include extensive changes to the illustrated financial statements for registered investment companies that result from SEC's issuance of the release Investment Company Reporting Modernization and related amendments to Regulation S-X. Other updates to the 2017 edition include changes to illustrated attestation reports that result from AICPA's issuance of Statement on Standards for Attestation Engagements (SSAE) No. 18, Attestation Standards: Clarification and Recodification. Further updates include: References to appropriate AICPA Technical Questions and Answers that address when to apply the liquidation basis of accounting Appendixes discussing the new standards for financial instruments, leases, and revenue recognition Appendixes discussing common or collective trusts and business development companies |
| aicpa ebp audit guide 2022: Audit and Accounting Guide: Construction Contractors, 2017 AICPA, 2018-05-15 Considered the industry standard resource, this guide’s 2017 edition is packed with information on new requirements and relevant changes to the FASB Accounting Standards Codification, including a high-level look at FASB ASU Nos. 2014-09, Revenue from Contracts with Customers and 2016-02, Leases. It provides practical tips and industry specific guidance, provides value from simple accounting to joint venture creation, and takes a deep dive into industry specific auditing procedures. With two complete sets of financial statements and disclosures, it provides an industry accepted blueprint from where to start, or a reference for auditing the final product. |
| aicpa ebp audit guide 2022: Audit Guide AICPA, 2017-10-02 Considered the industry-standard resource and updated as of March 1, 2014, the Audit Sampling Guide summarizes applicable requirements and practices, and delivers “how-to” advice to help auditors apply nonstatistical and statistical sampling. The guide includes case studies illustrating the use of different sampling methods, including classical variables sampling and monetary unit sampling, in real world situations. New in 2014, a detailed case study of the application of classical variables sampling with the use of software has been included as an appendix. The appendices also include sampling tables and similar tools, as well as other sampling considerations. Packed with information on sampling requirements and sampling methods, this Guide is an indispensable resource. |
| aicpa ebp audit guide 2022: Privacy and Data Protection Challenges in the Distributed Era Eugenia Politou, Efthimios Alepis, Maria Virvou, Constantinos Patsakis, 2021-10-22 This book examines the conflicts arising from the implementation of privacy principles enshrined in the GDPR, and most particularly of the ``Right to be Forgotten'', on a wide range of contemporary organizational processes, business practices, and emerging computing platforms and decentralized technologies. Among others, we study two ground-breaking innovations of our distributed era: the ubiquitous mobile computing and the decentralized p2p networks such as the blockchain and the IPFS, and we explore their risks to privacy in relation to the principles stipulated by the GDPR. In that context, we identify major inconsistencies between these state-of-the-art technologies with the GDPR and we propose efficient solutions to mitigate their conflicts while safeguarding the privacy and data protection rights. Last but not least, we analyse the security and privacy challenges arising from the COVID-19 pandemic during which digital technologies are extensively utilized to surveil people’s lives. |
| aicpa ebp audit guide 2022: Audit and Accounting Guide AICPA, 2018-06-12 With all the recent changes in state and local government audit and accounting, including changes to some of the more complex areas such as pensions and post-employment benefits other than pensions (OPEB), accountants and financial managers can't afford to be without the most current guidance. This authoritative guide provides complete coverage of audit and accounting considerations critical for both preparers and auditors. This edition includes two new schedules: Governmental Employer Participation in Single-Employer Plans: Illustrative Schedule of Pension Amounts and Report; and, Illustrative Notes to Schedule of Employer Allocations and Schedule of Pension Amounts. It also provides insights, comparisons, and best practices for financial reporting and the financial reporting entity, revenue and expense recognition, capital asset accounting, the elements of net position, accounting for fair value, municipal securities offerings, tax abatements and much more. |
| aicpa ebp audit guide 2022: Audit and Accounting Guide AICPA, 2019-10-18 The construction industry has seen significant changes in the past couple years. Whether you are in public accounting, performing assurance services, or operate in the industry, this guide has the information you need to perform at your best. Considered the construction industry standard resource, this 2019 edition features new accounting information and new auditing considerations, particularly with regards to considerations for FASB ASC 606. This guide is an indispensable reference document packed with information on new requirements and relevant changes to the FASB Accounting Standards Codification. From simple accounting to joint venture creation, this edition takes a deep dive into industry specific auditing procedures. Topics include: Practical tips and industry specific guidance; A detailed look at FASB ASU Nos. 2014-09, Revenue from Contracts with Customers, including new auditing considerations; An up-to-date look at the details of FASB ASU No. 2016-02, Leases |
| aicpa ebp audit guide 2022: Audit Guide AICPA, 2016-11-07 Want to ensure effective and efficient execution of the Risk Assessment Standards? AICPA has the resources you need: Audit Risk Assessment Tool (available online only) Assessing and Responding to Audit Risk in a Financial Statement Audit - AICPA Audit Guide The Audit Risk Assessment Tool walks an experienced auditor through the risk assessment procedures and documents those decisions necessary to prepare an effective and efficient audit program. Designed to be used in lieu of cumbersome checklists, it provides a top down risk-based approach to the identification of high risk areas to allow for appropriate tailoring of audit programs which will result in audit efficiencies. The tool is available in the Online Subscription format and includes access to the full Risk Assessment Guide. The AICPA Audit Guide Assessing and Responding to Audit Risk in a Financial Statement Audit is the definitive source for guidance on applying the core principles of the risk-based audit methodology that must be used on all financial statement audits. This guide is written in an easy-to-understand style that enables auditors of all experience levels to find answers to the issues they encounter in the field. Unique insights, examples and a comprehensive case study clarify critical concepts and requirements. Disclaimer This Audit Risk Assessment Tool is designed to provide illustrative information with respect to the subject matter covered and is recommended for use on audit engagements that are generally smaller in size and have less complex auditing and accounting issues. It is designed to help identify risks, including significant risks, and document the planned response to those risks. The Audit Risk Assessment Tool should be used as a supplement to a firm's existing planning module whether in a firm-based or commercially provided methodology. The Audit Risk Assessment Tool is not a complete planning module. The AICPA recommends the Audit Risk Assessment Tool be completed by audit professionals with substantial accounting, auditing and specific industry experience and knowledge. For a firm to be successful in improving audit quality and efficiencies, it is recommended that a 5+ years experienced auditor completes the Audit Risk Assessment Tool or the engagement team member with the most knowledge of the industry and client (often Partner in small/medium firms) provides insight to whomever is completing the ARA Tool. The AICPA recommends this should not be delegated to lower-level staff and just reviewed – it should be completed under the direction of the experienced auditor (if you delegate to inexperienced auditor you will be at risk for less effectiveness and efficiencies because the tool is intended to be completed by an experienced auditor). The Audit Risk Assessment Tool does not establish standards or preferred practices and is not a substitute for the original authoritative auditing guidance. In applying the auditing guidance included in this Audit Risk Assessment Tool, the auditor should, using professional judgment, assess the relevance and appropriateness of such guidance to the circumstances of the audit. This document has not been approved, disapproved, or otherwise acted on by a senior committee of the AICPA. It is provided with the understanding that the staff and publisher are not engaged in rendering legal, accounting, or other professional service. All such information is provided without warranty of any kind. |
| aicpa ebp audit guide 2022: Audit and Accounting Guide: Construction Contractors, 2018 AICPA, 2018-09-14 Considered the construction contractors industry standard resource, this 2018 edition is packed with information on new requirements and relevant changes to the FASB Accounting Standards Codification, including a high-level look at FASB ASU Nos. 2014-09, Revenue from Contracts with Customers and 2016-02, Leases. Further, as an Appendix to Chapter 2, Contract Accounting, the guide contains the views of the AICPA's Revenue Recognition Task Force and Financial Reporting Executive Committee on the implementation of FASB ASU No. 2014-09. Whether you are in public accounting, performing assurance services, or operate in the industry, this resource has the information you need to perform at your best. Highlighting practical tips and industry specific guidance, this guide provides value from simple accounting to joint venture creation and takes a deep dive into industry specific auditing procedures. With two complete sets of financial statements and disclosures, it provides an industry accepted blueprint from where to start, or a reference for auditing the final product. |
| aicpa ebp audit guide 2022: Annual Energy Outlook 2016 With Projections to 2040 Energy Dept., Energy Information Administration, 2017-02-15 The Annual Energy Outlook 2016 presents long-term projections of energy supply, demand, and prices through 2040. The projections, focused on U.S. energy markets, are based on results from EIA's National Energy Modeling System which enables EIA to make projections under alternative, internally consistent sets of assumptions. |
| aicpa ebp audit guide 2022: The AICPA Audit Committee Toolkit AICPA, 2016-11-21 The 2014 edition of this popular product will help audit committees of public companies achieve best practices for managing and incorporating their role in the organization. Now with downloadable MS Word tools and checklists, this Toolkit offers a broad sampling of matrices, reports, questionnaires and other pertinent materials specifically tailored to public companies, and designed to make audit committee best practices actionable. The toolkit, and accompanying download, will take the guesswork out of effectively establishing and managing an audit committee by furnishing you with dozens of useful tools and the most common forms for effective audit committee operation. The editable forms and checklists will help you efficiently create, file, and track your documentation. New to this edition of the toolkit: Updated with new COSO Framework (May 2013) Improved forms and checklists are more user-friendly Updated with regulatory changes IFRS guidance has been added |
| aicpa ebp audit guide 2022: Audit and Accounting Guide: Health Care Entities, 2018 AICPA, 2018-11-30 Considered the industry's standard resource, this guide helps accountants and financial managers understand the complexities of the specialized accounting and regulatory requirements of the health care industry. Updated for 2018, this edition has been prepared and reviewed by industry experts and provides hands-on, practical guidance for those who work in and with health care entities. A critical resource for auditors, this edition includes new accounting standards and relevant GASB and FASB updates (including those related to private companies). Updates include: FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) FASB ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities SAS No. 133, Auditor Involvement With Exempt Offering Documents GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting) GASB No. 83, Certain Asset Retirement Obligations |
| aicpa ebp audit guide 2022: AICPA Government Auditing Standards and Circular A-133 Audits Aicpa, American Institute of Certified Public Accountants, 2007-01-01 |
| aicpa ebp audit guide 2022: AICPA Technical Questions and Answers, 2018 AICPA, 2018-09-05 Find the answers to the questions accountants and their clients are asking in AICPA Technical Questions and Answers. This publication compiles popular Q&As from the AICPA's Technical Hotline. This resource includes non-authoritative literature on the following subjects: Financial Statement Presentation Auditors' Reports Required Supplementary Information Preparation, Compilation, and Review Engagements Liabilities and Deferred Credits Capital Revenue and Expense Specialized Industry Problems Specialized Organizational Problems Audit Fieldwork Attestation Engagements Updates to this annual publication include: New Q&As for investment companies’ long-term investments (section 69102220), and internal control multiemployer plans (section 82006935), definition of a public business entity (section 7100), partnerships (section 7200), and auditors' reports - other reporting issues (section 9160) have been added! |
| aicpa ebp audit guide 2022: The AICPA Audit Committee Toolkit AICPA, 2016-11-21 The AICPA Audit Committee Toolkit: Private Companies helps audit committees of private companies at all levels discover best practices for managing and incorporating their role within the organization. This toolkit takes the guesswork out of effectively establishing and managing an audit committee by furnishing you with dozens of useful tools and the most common forms for effective audit committee operation, as well as tools specially tailored for private companies. The accompanying download features forms and checklists that you can fill out and save to efficiently create, file, and track your documentation. This new second edition has been updated to include the 2013 revised COSO framework. The checklists and worksheets have been revised to make them more user-friendly. The publication has been updated with relevant regulatory changes. Additionally IFRS guidance has been added. The AICPA Audit Committee Toolkit series is the cornerstone of the Audit Committee Effectiveness Center, located at www.aicpa.org/AudCommCtr. This newly revised edition of the popular audit committee toolkit is written to help audit committees of private companies to achieve best practices for managing and incorporating their role in the organization. New to this edition of the toolkit Updated with new COSO Framework (May 2013) Improved format for forms and checklists Updated with regulatory changes Includes IFRS guidance Now with downloadable Microsoft Word tools and checklists, this Toolkit offers a broad sampling of matrices, reports, questionnaires and other pertinent materials specifically tailored to private companies and designed to make audit committee best practices actionable. |
| aicpa ebp audit guide 2022: Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensation AICPA, 2016-10-31 This new Guide has been developed by AICPA staff and the Equity Securities Task Force and is the first in a series of 3 NEW AICPA Accounting Valuation Guides to be released. This long anticipated release reflects best practices developed over the previous decade. Since the issuance of FASB ASC 718 and 505-50 in 2004, valuing stock-based compensation (cheap stock) has been a significant challenge for private companies. This New Guide has been designed to mitigate those challenges. It brings you practical guidance and illustrations related to accounting, disclosures and valuation of privately held company equity securities issued as compensation. This guide includes: Evaluating private and secondary market transactions — What should companies do when transaction activity doesn't match their estimates of value? Adjustments for control and marketability — How should companies think about the value of the enterprise for the purpose of valuing minority securities? When is it appropriate to apply a discount for lack of marketability, and how should the estimated discount be supported? Highly leveraged entities — How should companies incorporate the fair value of debt in the valuation of equity securities? What is the impact of leverage on the expected volatility of various securities? The relevance of ASC 820 (SFAS 157) to cheap stock issues Updated guidance and illustrations regarding the valuation of, and disclosures related to, privately held company equity securities issued as compensation This Guide also provides expanded and more robust valuation material to reflect advances in the theory and practice of valuation since 2004. This edition includes guidance from FASB ASC 718, 505-50, 820-10 and SSVS 1 which were all issued since the last AICPA guidance dedicated to this issue. |
| aicpa ebp audit guide 2022: Audit and Accounting Guide AICPA, 2018-10-31 First update in 4 years! As fluctuating oil prices, off-shore drilling, and other energy-related issues impact the way your clients conduct business, it i essential to have a keen understanding of the domestic and international topics and trends facing the oil and gas industry today. This 2018 edition includes over 200 pages of invaluable guidance to help accountants improve their industry knowledge, fine-tune their strategies, and provide high-quality services to their clients. This publication provides important technical guidance, summarizes new standards and practices, and delivers how-to advice for handling audit and accounting issues that will be critical to your success. Key Features of this title are: An updated illustrative representation letter that contains industry-specific representations. Discussion and interpretive guidance associated with FASB ASC 606, Revenue from Contracts with Customers |
| aicpa ebp audit guide 2022: Section 1557 of the Affordable Care Act American Dental Association, 2017-05-24 Section 1557 is the nondiscrimination provision of the Affordable Care Act (ACA). This brief guide explains Section 1557 in more detail and what your practice needs to do to meet the requirements of this federal law. Includes sample notices of nondiscrimination, as well as taglines translated for the top 15 languages by state. |
| aicpa ebp audit guide 2022: Guide AICPA, 2019-12-05 Whether you're a new or seasoned accountant, it's time for a PCRE refresher. Issued by the Accounting and Review Services Committee (ARSC), this edition contains the latest developments in performing preparation, compilation and review engagements. You'll find ARCS's best advice on: Recently issued Statement on Standards for Accounting and Review Services (SSARS) No. 22, Compilation of Pro Forma Financial Information, SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services, 2016, and SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services, 2018 In addition, enhanced updates and illustrative accountant's reports, plus coverage of international reporting issues are provided--including SSARS No. 24, which is effective on or after June 15, 2019. |
| aicpa ebp audit guide 2022: Audit and Accounting Manual: Nonauthoritative Practice Aid, 2019 AICPA, 2019-08-06 This comprehensive, step-by-step guide provides a plain-English approach to planning and performing audits. In this handy resource, accountants and auditors will find updates for the issuance of SAS No. 132, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, with illustrative examples, sample forms and helpful techniques ideal for small- and medium-sized firms Key Features include: Comprehensive and step-by-step guidance on the performance of an audit Numerous alerts that address the current-year developments in a variety of areas Illustrative examples and forms to facilitate hands-on performance of the audit |
| aicpa ebp audit guide 2022: AICPA Technical Questions and Answers, 2019 AICPA, 2019-09-11 Technical Questions and Answers compiles popular Q&As from the AICPA’s Technical Hotline. This resource includes non-authoritative literature on the following subjects: Financial Statement Presentation Auditors’ Reports Required Supplementary Information Preparation, Compilation, and Review Engagements Liabilities and Deferred Credits Capital Revenue and Expense Specialized Industry Problems Specialized Organizational Problems Audit Fieldwork Attestation Engagements This new edition includes new Q&As for definition of direct care of collection items (section 6140.27) and Q&As for not-for-profit entities (section 6140), and health care entities have been revised. |
| aicpa ebp audit guide 2022: Audit Guide American Institute of Certified Public Accountants, 2016-10-31 This AICPA Audit Guide ... is an update of the 2012 AICPA Audit Guide by the same name ...--P. iii. |
| aicpa ebp audit guide 2022: Audit Guide Government Auditing Standards and Circular A-133 Audits Aicpa, United States. Government Accountability Office, 2009 |
| aicpa ebp audit guide 2022: Audit and Accounting Manual AICPA, 2020-09-16 This comprehensive, step-by-step guide provides a plain-English approach to planning and performing audits. In one handy resource, you'll find applicable requirements and how-to advice. This edition includes updates for the issuance of SAS No. 133, Auditor Involvement with Exempt Offering Documents. Update boxes have been added for SAS No. 134, 137, 138 and 139. You’ll find illustrative examples, sample forms and helpful techniques ideal for small- and medium-sized firms. |
| aicpa ebp audit guide 2022: Management of an Accounting Practice Handbook: pt.1. Developing an accounting practice , 1975 |
| aicpa ebp audit guide 2022: Audits of Property and Liability Insurance Companies , 2000 |
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