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Technical

AICPA Professional Standards Logo aicpa

  $199.00 - 249.00 |   AICPA |   Aug 2019 |   AICPA Store
Who Will Benefit
  • Practitioners performing attestation engagements
  • Practitioners performing preparation, compilation, and review services
Key Topics
  • SAS No. 134 is a suite of auditor reporting standards that significantly changes the form and content of the auditor's report issued after auditing a set of financial statements. The SAS also addresses the auditor's responsibility to form an opinion on the financial statements.
  • SAS No. 135 is intended to more closely align Auditing Standards Board (ASB) guidance with the Public Company Accounting Oversight Board's (PCAOB) standards. By eliminating unnecessary differences between the ASB guidance and PCAOB standards, auditors who perform audits under both sets of auditing standards will experience more consistency between the guidance and standards thereby enhancing audit quality.
  • SAS No. 136 addresses the auditor's responsibility to form an opinion and report on the audit of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), and the form and content of the auditor's report issued as a result of an audit of ERISA plan financial statements.
  • SAS No. 137 addresses the auditor's responsibilities relating to other information, whether financial or nonfinancial information (other than financial statements and the auditor's report thereon), included in an entity's annual report.
  • Statement on Standards for Forensic Services No. 1 establishes standards for a member providing services to a client as part of the litigation and investigation engagements. This standard was issued this to protect the public interest by preserving and enhancing the quality of practice of a member performing forensic services.

Updated as of July 1, 2019, Professional Standards is your comprehensive source of professional standards and interpretations issued by the AICPA, such as auditing and attestation, accounting and review services pronouncements, along with the AICPA Code of Professional Conduct and Bylaws. Standards and related interpretations, to help you apply the standards in specific circumstances, are arranged by subject with amendments noted, superseded portions deleted, and conforming changes reflected.

New in 2019:

  • Statement on Auditing Standards (SAS) No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements
  • SAS No. 135, Omnibus Statement on Auditing Standards—2019
  • SAS No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA
  • SAS No. 137, The Auditor's Responsibilities Relating to Other Information Included in Annual Reports
  • Statement on Standards for Forensic Services No. 1, Statement on Standards for Forensic Services

Additional changes to this year's publication include the following:

  • Revisions to definitions and ethics interpretations in the Code of Professional Conduct
  • Revisions to peer review standards and interpretations

Professional Standards includes these standards and sections:

  • Auditing standards and interpretations
  • Attestation standards and interpretations
  • Accounting and review standards and interpretations
  • Quality control standards
  • Statements of Position—accounting, auditing and attestation
  • AICPA Code of Professional Conduct
  • AICPA bylaws
  • Valuation services standards and interpretations
  • Consulting services standards
  • Peer review standards and interpretations
  • Tax services standards and interpretations
  • Policies for the CPE membership requirement and CPE standards

Bundle & save! Gain full access with these unique sets!

  • AICPA Professional Standards and Technical Questions and Answers - This set gives you access to auditing standards, professional standards as well as Statements of Position, bulletins and alerts.

  • Audit & Accounting Bundle - Gain access to auditing standards, professional standards and advice to help your plan and perform an audit. This set includes AICPA Professional Standards, Technical Questions and Answers, and the Audit and Accounting Manual.

Topics covered:
  • Financial accounting & reporting: Technical: Preparation services: Authoritative guidance, Foundational
  • Financial accounting & reporting: Technical: Preparation services: Authoritative guidance, Intermediate
  • Assurance: Technical: Audit: Authoritative guidance, Foundational
  • Assurance: Technical: Audit: Authoritative guidance, Intermediate
  • Assurance: Technical: Attestation: Authoritative guidance, Foundational
  • Assurance: Technical: Attestation: Authoritative guidance, Intermediate
  • Assurance: Technical: Compilation: Authoritative guidance, Foundational
  • Assurance: Technical: Compilation: Authoritative guidance, Intermediate
  • Assurance: Technical: Advisory & consulting services: Authoritative guidance, Foundational
  • Assurance: Technical: Advisory & consulting services: Authoritative guidance, Intermediate
  • Assurance: Ethics, integrity & professionalism: Ethics, integrity & professionalism
  • Assurance: Technical: Review: Authoritative guidance, Foundational
  • Assurance: Technical: Review: Authoritative guidance, Intermediate

Comments/Reflections