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AICPA Releases 2007 Audit and Accounting Guides Updated for New Risk Assessment Standards

WHAT:

The American Institute of Certified Public Accountants (AICPA) announces the release of its 2007 AICPA Audit and Accounting Guides which have been updated for the new Risk Assessment Standards issued by the Auditing Standards Board (ASB).

DETAILS:

Each guide updated for the new Risk Assessment Standards includes application guidance on the new requirements for auditors:

  • Agricultural Producers and Cooperatives
  • Analytical Procedures
  • Auditing Revenue in Certain Industries
  • Brokers and Dealers in Securities
  • Common Interest Realty Associations
  • Construction Contractors
  • Depository and Lending Institutions
  • Auditing Derivative Instruments, Hedging Activities and Investments in Securities (Dec. 12)
  • Federal Government Contractors
  • Health Care Organizations
  • Investment Companies
  • Not-for-Profit Organizations
  • Oil and Gas Producing Activities
  • Personal Financial Statements (Nov. 21)
  • Service Organizations
  • State and Local Governments
Also available is AICPA’s audit guide on “Assessing and Responding to Audit Risk in a Financial Statement Audit.”

COST:

For AICPA members, the guides cost $49 - $69; for nonmembers, $61.25 - $86.25. For detailed product information, visit www.cpa2biz.com.

BACKGROUND:

About the American Institute of CPAs
The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with approximately 350,000 members, including CPAs in business and industry, public practice, government, and education; student affiliates; and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies; federal, state and local governments; and non-profit organizations. It also develops and grades the Uniform CPA Examination.

About CPA2Biz
CPA2Biz is a subsidiary of the American Institute of Certified Public Accountants (AICPA), and provides marketing and technology services to the AICPA for its wide array of products and services, such as continuing education, conferences and professional literature. CPA2Biz also develops and manages client-focused business solutions programs (e.g. payroll, banking) that enable CPAs to build stronger relationships with their business clients or employers.

CONTACT:

For CPA2Biz, Inc.:
Pamela Johnston / Carolina Margarella
Public Relations Representative
PJ Inc.
212-629-8445
Pamela@pjinc.net or Carolina@pjinc.net