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.
