Frequency of Updates:
The AICPA’s clarified auditing standards are now effective for all audit engagements and those standards include more than just new terminology - they include new requirements. PPC’s Guide to the Clarified Auditing Standards provides a roadmap to the new standards with detailed guidance and practical answers to help you sort out the significant changes that will affect your audit practice. The Guide explains each audit requirement and highlights differences from the previous standards. It also includes the following features:
- Illustrative reports and other communications, with comparisons to prior reports and communications
- Details of new terminology and how it changes current audit practice
- Explanations of group audits and component auditors
- Answers to common practitioner questions
PPC’s Guide to the Clarified Auditing Standards is also an excellent tool for training your staff on the new requirements.