Special Reports — Assurance on Compliance with Agreements, Statutes and Regulations - AASOC

Date recorded:

At the AASOC meeting on October 24, 2016, the AASB discussed issues related to its project to revise Sections 5800, Special Reports - Introduction, 5815, Special Reports — Audit Reports on Compliance with Agreements, Statutes and Regulations, and 8600, Reviews of Compliance with Agreements and Regulations, including: (i) developing two standards to mirror the construct of the umbrella assurance standards; (ii) incorporating the part of Section PS 5300, Auditing for Compliance with Legislative and Related Authorities in the Public Sector, dealing with compliance with specified authorities; (iii) describing clearly what the entity is required to comply with; (iv) concluding in an attestation compliance engagement versus a direct compliance engagement; and (v) using the terms “reasonable assurance” and “limited assurance” versus “audit” and “review”.

Review the minutes on the AASOC's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.