![]() ![]() SSAE 18: In April 2016, the AICPA published Statement on Standards for Attestation Engagements 18 Attestation Standards: Clarification and Recodification in response to "concerns over the clarity, length, and complexity of its standards", with most sections becoming effective on May 1, 2017. It included criteria to supplement COSO principle 12 by addressing controls for logical and physical access, system operations, change management, and risk mitigation. The new control criteria were aligned with the 17 principles of COSO Internal Control-Integrated Framework. Trust Services Criteria: In 2014, the AICPA Assurance Services Executive Committee (ASEC) published new guidance, Trust Services Principles and Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy, referred to simply as control criteria. SOC: in 2011, in conjunction with the release of SSAE 16, the AICPA replaced the service auditor’s examination report prescribed by SAS 70 with the System and Organization Controls (SOC) suite of reports. 16 (SSAE 16), titled Reporting on Controls at a Service Organization, which superseded SAS 70 and was included in Professional Standards as section AT 801 The changes in this update brought the standard closer to the reporting structure required by the Sarbanes Oxley Act and the standards supported by the International Federation of Accountants (IFAC). SSAE 16: In April 2010, the AICPA published Statement on Standards for Attestation Engagements no. ISAE 3402 was adopted by the International Federation of Accountants (IFAC). It specifies ISAE 3000 as being applicable. It focuses on "assurance engagements when reporting on controls at a service organization that are likely to impact or be a part of the user organization's system of internal control over financial reporting". ISAE 3402: In December 2009, the International Auditing and Assurance Standards Board (IAASB) published a new International Standard for Assurance Engagements, ISAE 3402, titled Assurance Reports on Controls at a Service Organization, also known as Internal Control Framework over Financial Reporting (ICFR). 55 Statement on Auditing Standards, 078, which superseded SAS 55, to reflect the definition of internal control provided in COSO Internal Control-Integrated Framework. SAS 78: In December 1995, the AICPA published Consideration of internal control structure in a financial statement audit : an amendment to SAS no. ĬOSO Internal control: integrated framework: In September 1992, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued a report titled Internal control: integrated framework, which provided a definition of internal control and a framework for evaluating and improving internal control over systems. SAS 70: In April 1992, the AICPA published Reports on the processing of transactions by service organizations Statement on auditing standards, 070, which provides guidance when auditing the financial statements of an entity that uses a service organization to process transactions that affect financial reporting. History and influences Precedents and initial release 2.9 §395 Designated for AT Section 701, Management's Discussion and Analysis.2.8 §320 Reporting on an Examination of Controls at a Service Organization Relevant to User Entities' Internal Control Over Financial Reporting.2.6 §310 Reporting on Pro Forma Financial Information.2.5 §305 Prospective Financial Information.2.4 §215 Agreed-Upon Procedures Engagements.2.1 §105 Concepts Common to All Attestation Engagements.1.2.2 Complementary subservice organization controls.Published April 2016, SSAE 18 and all previous standards it supersedes are represented in section AT-C of the AICPA Professional Standards, with most sections becoming effective on May 1, 2017. ![]() It also prescribes two types of reports: Type 1, which includes an assessment of internal control design, and Type 2, which additionally includes an assessment of the operating effectiveness of controls. It prescribes three levels of service: examination, review, and agreed-upon procedures. It is intended for use by Certified Public Accountants performing attestation engagements, the preparation of a written opinion about a subject, and the client organizations preparing the reports that are the subject of the attestation engagement. It pays particular attention to internal control, extending into the controls over information systems involved in financial reporting. Though it states that it could be applied to almost any subject matter, its focus is reporting on the quality (accuracy, completeness, fairness) of financial reporting. 18 or SSAE 18) is a Generally Accepted Auditing Standard produced and published by the American Institute of Certified Public Accountants (AICPA) Auditing Standards Board. Statement on Standards for Attestation Engagements no. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |