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AICPA Releases Standard on Exempt Offerings

By Susan Cox, M.Acc., CPA

Statement of Auditing Standards (SAS) No. 133, Auditor Involvement With Exempt Offering Documents, was issued July 26, 2017, and provides performance requirements for auditors involved with documents for exempt offerings such as municipal securities; securities issued by not-for-profit religious, education, or charitable organizations; crowdfunding; small issues of securities such as Regulation A offerings; and franchise […]

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PCAOB Addresses Critical Audit Matters in New Standard

By Susan Cox, M.Acc., CPA

The PCAOB addressed critical audit matters in a new standard. Parts of this standard are testable on the CPA Exam in the first quarter of 2018.

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Form AP

PCAOB No. 2015-008, a new auditing rule designed to improve transparency regarding both the engagement partner and “other accounting firms” that may have taken part in the audit of issuers, will be testable this April 1.

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Going Concern Considerations To Become Testable on AUD Next January

By Susan Cox, M.Acc., CPA

Sitting for AUD next January? SAS No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern is a standard that applies to all audits of a complete set of financial statements, including financial statements prepared in accordance with a general purpose or a special purpose framework. It will become testable on the CPA exam January 1, 2018.

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