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Financial Reporting Center
The Financial Reporting Center helps CPAs meet the challenges of providing high quality financial reporting. Whether you are a financial statement preparer or a member in public practice, this center provides resources for the entire financial reporting process providing you the information you need to know when you need it.
AICPA Coronavirus (COVID-19) Resource Center
With all the concerns stemming from the COVID-19 pandemic, we want you to know that your well-being and your clients’ well-being are top of mind for us. We know you are doing everything you can to mitigate risks and help keep your firms and businesses running. Your firms, organizations, clients and communities are depending on your expertise during this crisis. And it’s our job to make sure you have the help and information you need to navigate this pandemic.
We’ve created the AICPA Coronavirus (COVID-19) Resource Center to keep you up to date on the latest news, resources, event information and guidance to help you advise your organizations, clients and customers, and better manage our new way of working. Check out the Coronavirus (COVID-19) audit and accounting resources page for A&A specific tools and the most recent guidance on questions we are receiving Bookmark this page and visit often for the latest updates.
AICPA Competency Framework: Assurance Services
The AICPA has developed the AICPA Competency Framework: Assurance Services designed to help CPAs understand the knowledge and skills necessary to perform high-quality audit, attestation, review, compilation and preparation engagements. The framework is underpinned by the need for objectivity, integrity and ethical behavior and includes a commitment to continuously acquire new skills and knowledge.
The AICPA and CIMA also previously developed the CGMA Competency Framework designed to help management accountants and their employers understand the knowledge requirements and assess the skills needed for both current and desired roles.
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ASB Issues Statement on Auditing Standards No. 145
The Auditing Standards Board (ASB) issued SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, in October 2021. Visit our hub site, Recently Issued Auditing and Attestation Standards: Information and Resources , for the latest information on this standard, and click here to register for an upcoming webcast and learn more about it!
ASB Issues Statement on Auditing Standards No. 144
The Auditing Standards Board (ASB) issued SAS No. 144, Amendments to AU-C Sections 501, 540, and 620 Related to the Use of Specialists and the Use of Pricing Information Obtained From External Information Sources, in June 2021. Visit our hub site, Recently Issued Auditing and Attestation Standards: Information and Resources , for the latest information on this standard.
FinREC Proposes New Construction Contractor Illustrative Financial Statements
FinREC has issued an exposure draft of new illustrative financial statements to be included in the AICPA Audit and Accounting Guide: Construction Contractors , to help apply the disclosure and presentation guidance in FASB ASC 606, Revenue Recognition and ASC 842, Leases, to private construction contractors’ financial statements. The comment period ends July 12, 2021.