compliance attestation

Question 1

Know the two types of engagements applicable to an entity’s compliance issues, examination and agreed-upon procedures.
2. Understand the accountant’s responsibilities under SSAEs when that accountant is engaged to examine or perform agreed-upon procedures regarding an entity’s compliance issues.

Answer 1

f

Question 2

compliance attestation is applicable when

Answer 2

reporting on an entity’s written assertion about compliance with the requirements of laws, regulations, or contracts (or the effectiveness of its internal controls related to such compliance)

Question 3

compliance attestation only allows

Answer 3

examination and agreed upon procedures. NOT REVIEW

Question 4

compliance attestation examination aggreements -3 paragraphs

Answer 4

intro-nature of engagement and subject matter. management and accountant responsibilities

scope-reference aicpa standards (does not provide a legal determination)

express an opinion (usually without identifying the measurement criteria used)

Question 5

compliance attestation-agreed upon procedures-4 paragraphs

Answer 5

1. nature of engagement and subject matter. reference aicpa standards, identify responsibilities of specified parties.
2. enumerate procedures and findings -can report separately or reference an appendix or exhibit
3. state disclaimer of opinion
4. restrict distribution to specified parties