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LEARNING RESOURCES
PROFESSIONAL ISSUES

Codification of Statements on Standards for
Attestation Engagements ■ Meet vaccination and health testing require-
ments for staff;
Your complete guide to the authoritative ■ Meet other safety standards; and
standards and interpretations applicable to
attestation engagements. ■ Maintain liability insurance.
Given strong competition, Key’s experienced
PUBLICATION management has designed and implemented
policies that usually exceed these requirements.
YEAR 1
Jane Key meets with her business’s CPA, Sara
Jones of Jones and Company, to discuss the pos-
Prospective Financial Information Guide sible services Jones may provide. Key explains
Get up to speed with current regulations, plus that, based on their prior experience, Key has
real-world examples, practice exercises, and case developed and successfully implemented policies
studies. This guide will help ensure your firm’s and procedures that meet the legal requirements.
long-term success in engagements related to Key’s management requests an attestation
prospective financial information.
service that provides findings on whether these
PUBLICATION policies and procedures are being implemented
during the current period. Jones suggests that
her firm perform an agreed-upon procedures
engagement under AT-C Section 215, Agreed-
For more information or to make a purchase, go to aicpa.org/cpe-learning Upon Procedures Engagements. Jones explains
or call the Institute at 888-777-7077.
the following:
■ Jones and Key can work together to determine
AICPA RESOURCES the procedures to be performed that would assist
Key in determining whether Key’s systems and
Articles controls are being followed.
“New Attestation Standard Clarifies Work Effort of Review Engagements,” ■ Prior to the issuance of Jones’s agreed-upon
JofA, Dec. 9, 2020 procedures report, Key will agree to and
“Direct Examination’ Engagement Created by SSAE No. 21,” JofA, Sept. 30, 2020 acknowledge that the procedures performed
are appropriate for the purpose of assisting
“New Standard Adds Flexibility for Agreed-Upon Procedures,” JofA, Dec. 5, 2019 Key in determining whether Key’s systems
Online resources and controls are being followed.
■ The report will describe the procedures
SAS No. 138 and SSAE No. 20 at a Glance
performed and Jones’s findings based on the
SSAE No. 22 at a Glance
performance of the procedures. As the engage-
SSAE No. 21 at a Glance ment is not an examination or a review of Key’s
SSAE No. 19 at a Glance systems and controls, Jones will not express an
opinion, conclusion, or any form of assurance.

IN BRIEF

■ Newly issued standards from the of subject matter in accordance with understanding of engagement terms
AICPA Auditing Standards Board the attestation standards. with the engaging party, properly
provide practitioners with flexibility ■ All attestation services require planning and performing the work,
in the attestation services they can performing client acceptance supervising team members, obtaining a
provide clients. procedures, obtaining an understanding management representation letter, and
■ Practitioners may report on a variety of the subject matter, reaching a written providing a practitioner’s report.

To comment on this article or to suggest an idea for another article, contact Courtney Vien at Courtney.Vien@aicpa-cima.com or
919-402-4125.

8 | Journal of Accountancy July 2022