AICPA - Codification of Statements on Standards for Attestation Engagements

Number 20

As of January 2020

Copyright 2020 by
American Institute of Certified Public Accountants, Inc. All rights reserved.

Reprinted from
AICPA Professional Standards
U.S. Attestation StandardsAICPA (Clarified)
(as of January 2020)

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ISBN 978-1-94830-613-3 (Print)
ISBN 978-1-119-72338-7 (ePDF)
ISBN 978-1-948306-14-0 (ePub)
ISBN 978-1-119-72341-7 (oBook)

This publication, issued by the Accounting and Review Services Committee and the Auditing Standards Board (ASB), is a codification of Statements on Standards for Attestation Engagements (SSAEs) and the related attestation interpretations applicable to the preparation and issuance of attestation reports for all nonissuers. A nonissuer is any entity not subject to the Sarbanes-Oxley Act of 2002 or the rules of the SEC.

This publication contains the codified attestation standards issued through SSAE No. 20, Amendments to the Description of the Concept of Materiality, and related attestation interpretations. Superseded portions have been deleted and all applicable amendments have been included.

SSAEs are issued by senior committees of the AICPA designated to issue pronouncements on attestation matters applicable to the preparation and issuance of attestation reports for entities that are nonissuers. The "Compliance With Standards Rule" (ET sec. 1.310.001) of the AICPA Code of Professional Conduct requires an AICPA member performing an attestation engagement for a nonissuer (a practitioner) to comply with standards promulgated by such senior committees. A practitioner must comply with an unconditional requirement in all cases in which such requirement is relevant. A practitioner also should comply with a presumptively mandatory requirement in all cases in which such requirement is relevant; however, in rare circumstances, the practitioner may depart from a presumptively mandatory requirement provided that the practitioner documents the justification for the departure and how the alternative procedures performed in the circumstances were sufficient to achieve the intent of that requirement.

Exhibits and interpretations to SSAEs are interpretive publications, as defined in AT-C section 105, Concepts Common to All Attestation Engagements. AT-C section 105 requires the practitioner to consider applicable interpretive publications in planning and performing an attestation engagement. Interpretive publications are not attestation standards. Interpretive publications are recommendations on the application of the SSAEs in specific circumstances, including engagements for entities in specialized industries. An interpretive publication is issued under the authority of the relevant senior technical committee after all members of the committee have been provided an opportunity to consider and comment on whether the proposed interpretive publication is consistent with the SSAEs. Attestation interpretations are included in the ATC sections of AICPA Professional Standards. AICPA Guides and Attestation Statements of Position are listed in AT-C appendix A, "AICPA Guides and Statements of Position," of AICPA Professional Standards.

AUDITING STANDARDS BOARD
Michael J. Santay, Chair
Robert Dohrer, Chief Auditor AICPA

The AT-C sections include clarified accounting and review services standards issued by Statements on Standards for Attestation Engagements (SSAE) Nos. 1820. These sections are arranged as follows:

• AT-C Cross-References to SSAEs
• AT-C Introduction
• Common Concepts
• Level of Service
• Subject Matter
• Exhibits
• Appendixes
• AT-C Topical Index

The AT-C Cross-References to SSAEs lists all SSAEs issued since SSAE No. 18, Attestation Standards: Clarification and Recodification, and the sources of sections in the current text.

The AT-C Introduction describes the Auditing Standards Board project to revise and clarify all existing attestation standards in the Codification of Statements on Standards for Attestation Engagements.

The standards are divided into sections, each with its own section number. Each paragraph within a section is decimally numbered.

Attestation interpretations are numbered in the 9000 series with the last three digits indicating the section to which the interpretation relates. Interpretations immediately follow their corresponding section. For example, interpretations related to section 105 are numbered 9105, which directly follows section 105.

• There is one exhibit relating to attestation standards as follows:
  • The exhibit provides a list of AT-C sections designated by SSAE No. 18 cross referenced to a list of AT sections.
• There are two appendixes relating to attestation standards as follows:
  • Appendix A provides a list of AICPA attestation guides and Statements of Position.
  • Appendix B identifies other attestation publications published by the AICPA that have been reviewed by the AICPA Audit and Attest Standards staff.

The AT-C topical index uses the keyword method to facilitate reference to the pronouncements. The index is arranged alphabetically by topic and refers to major divisions, sections, and paragraph numbers.