Attestation Engagements: Codification of Statements on Standards for Attestation Engagements, Numbers 1 to 18

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1st Edition

by AICPA (Author)

Redrafted in accordance with the clarity drafting conventions (and differentiated from the extant standards by using the identifier “AT-C”), the attestation standards have been made easier to read, understand, and apply by establishing objectives and definitions in each AT-C section, and separating requirements from application and other explanatory material. Some of the changes introduced by SSAE No. 18 include (among other changes):  

• Separation of procedural and reporting requirements for review engagements from their counterparts for examination engagements 
• Required representation letters 
• More robust risk assessment for examination engagements

SSAE No. 18 supersedes all the extant attestation standards with the following exceptions:  

• AT 501, An Examination of an Entity’s Internal Control Over Financial Reporting That is Integrated With An Audit of Financial Statements  
• AT 701, Management’s Discussion and Analysis.