Exposure Draft: SSAE Section 210
On February 25th, 2025, the AICPA issued Proposed SSAE: Scope Limitations in a Review Engagement.
Today's Date May 10, 2025
Auditing
Are you an auditor trying to stay up to date on what’s going on at the AICPA, GAO and OMB? Follow the GLS blog for auditing to learn more about the changes happening at the auditing standards board as well as governmental auditing.
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Q1 2025 in Review
In our Q1 2025 in Review Blog, we look at the standard setting activities of the FASB, GASB and AICPA. The first quarter had a flurry of activities with promises of more standards coming down the pike. This is a great way to keep up to date during busy season without getting in the weeds!
2024 Year in Review
The number of issued standards likely hit one of the lowest points in history! This blog will review the accounting, auditing, and ethics standards issued by the FASB, GASB, and AICPA in 2024. While 2024 wasn’t busy for final standards, there was a flurry of due process documents, which means we may see an uptick in 2025.
Proposed Statement on Standards for Accounting & Review Services
On September 23, 2024, the AICPA’s Accounting & Review Services Committee proposed amendments to AR-C Section 70, Preparation of Financial Statements, in AICPA Professional Standards. The proposed changes clarify that AR-C Section 70 does not apply to financial statements prepared as part of a consulting services engagement performed in accordance with CS Section 100, Consulting Services: Definitions and Standards. The comment period ends December 20. The proposed SSARS would become effective for the preparation of financial statements for period ending on or after December 15, 2026. Early implementation would be permitted.
Private Equity Pressures
Private equity is shaking things up in the audit world! With more PE money flowing into firms, we’re facing big questions about independence, ethical standards, and service quality. As the industry evolves, it’s crucial that YOUR voice is heard! That’s why NASBA is conducting a survey to gather feedback from professionals like YOU. Your insights will help shape how we navigate these changes and ensure the highest standards of integrity in our field.
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