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Gleim CPA Review

Updates to Auditing
2015 Edition, 1st Printing
February 2015
NOTE: Text that should be deleted is displayed with a line through it. New text is shown with a
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Study Unit 19 Review, Compilation, and Attestation Engagements
Page 612, Subunit 19.7, 3.c.2): This update deletes material from the outline because the
auditor may examine only compliance with specified requirements under AT 601.
3. Scope of Services
a. A practitioner may perform agreed-upon procedures or an examination. However, a
practitioner should not perform a compliance attestation review service.
b. In an agreed-upon procedures engagement, the subject matter (or an assertion about
it) consists of (1) compliance with specified requirements, (2) the effectiveness of
internal control over compliance, or (3) both.
1) The users of the report decide the procedures to be performed by the practitioner
and take responsibility for those procedures.
2) The practitioner has no obligation to perform other procedures. However, if
noncompliance comes to the practitioners attention by other means, such
information should be included in the report.
3) The practitioners report should be in the form of procedures and findings but should
not provide negative assurance about whether an entity is in compliance or
whether the responsible partys assertion is fairly stated.
4) The report
a)
b)
c)
d)
e)

Has a title that includes the word independent

Describes the nature and scope of the service
Limits use to specified parties
Is signed by the practitioner
Is dated as of the completion of the agreed-upon procedures

c. In an examination engagement, the subject matter (or an assertion about it) consists of
compliance with specified requirements.
1) The practitioner gathers evidence to support an opinion on whether an entity is in
compliance, in all material respects, based on specified criteria.
2) The practitioner also may examine the effectiveness (or the responsible partys
assertion about the effectiveness) of the entitys internal control over
compliance.

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