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You'll have online access to our Engagement Standards, GAAS Practice Manual, Knowledge-Based Audit Procedures, Knowledge-Based Compilations & Reviews, CPA's Guide to Effective Engagement Letters, CPA's Guide to Management Letter Comments, Attestation Engagements and the GAAS Update Service. The Library also gives you access to AICPA Accounting and Audit Guides and AICPA Professional Standards.

A wealth of practice aids help you plan and execute auditing and attest engagements and quickly integrate the standards into practice. In addition to answers for over 600 frequently asked questions on how to implement the standards, you get over 350 illustrations, including checklists.

Key Features

Simplify your financial reporting research...

  • Get interpretive guidance for understanding and complying with the latest standards and regulations.
  • Access coverage on all governing bodies, including FASB, SEC, PCAOB, AICPA and IASB.
 
Audit Content

Our audit content covers auditing standards, attestation engagement standards, accounting and review services standards, audit risk alerts and other vital auditing-related guidance issued by the AICPA or the PCAOB.  

Access our:
 
  • Engagement Standards
  • GAAS Practice Manual
  • Knowledge-Based Audit Methodology Procedures
  • Knowledge-Based Compilations & Reviews
  • CPA's Guide to Effective Engagement Letters
  • CPA's Guide to Management Letter Comments
  • Attestation Engagements and GAAS Update Service
Engagement Standards
 

This tool helps you quickly locate guidance and resolve practice issues relating to: (1) audit engagements, (2) attestation engagements and (3) compilation and review engagements, conducted in accordance with U.S. professional standards. Within each section, "Engagement Standards" provides an overall summary of numerous subtopics and links you to the authoritative and interpretive literature that addresses the subtopic. The interpretive literature provides practical guidance and an effective approach to applying and complying with the authoritative standards. Numerous practice aids are included. 

GAAS Practice Manual
 

This innovative resource provides a complete, quick and valuable reference source for the practitioner of the currently effective pronouncements of Statement on Auditing Standards (SAS), Statement on Standards for Attestation Engagements (SSAE), Statement on Standards for Accounting and Review Services (SSARS) and the interpretations of these standards. 

Throughout, the Manual features various efficiency and effectiveness practice tips to help you better plan and execute accounting, auditing and attest engagements and to quickly integrate the standards into practice. In addition to providing answers for over 600 frequently asked questions on how to implement the standards, the Manual contains over 350 illustrations, including checklists and practice aids.

Knowledge-Based Audit Methodology Procedures
 

Knowledge-Based Audit Procedures shows you the most cost-effective approach for conducting high-quality audits of nonpublic commercial entities. It features various audit efficiency, effectiveness and cost-saving measures to help reduce the tendency to over audit. It also includes numerous practice aids — checklists, questionnaires, workpapers, sample correspondence and sample auditor's reports — to take you through an engagement, from the initial evaluation of a client to the issuance of the auditor's report.

The 2011 edition of Knowledge-Based Audit Procedures discusses the latest activities related to the AICPA Auditing Standards Board's Clarity Project and has been updated for new auditing pronouncements through SAS 120 (AU 558), Required Supplementary Information. Knowledge-Based Audit Procedures is referenced to the accounting guidance presented in the FASB Accounting Standards Codification™. 

Knowledge-Based Audits of Public Entities: A Guide to PCAOB Standards and SEC Rules provides guidance on the implementation of the standards and rules promulgated by the PCAOB and the SEC for audits of public entities. The practice aids take you through an engagement from the initial evaluation of a client to the issuance of the auditor's reports on the client's internal controls over financial reporting and the financial statements. This guide can be used for integrated audits or audits of financial statements only of publicly traded entities. It has been updated to incorporate the eight new risk assessment standards issued by the PCAOB, which were approved by the SEC in December of 2010, and is current through standards and rules issued and approved through January 2011. Additionally, this guide has been updated to include guidance on the PCAOB's Staff Audit Practice Alert No. 7, Auditor Considerations of Litigation and Other Contingencies Arising from Mortgage and Other Loan Activities, as well as information on current PCAOB and SEC rule-making activities as of December 31, 2010.

Knowledge-Based Compilations & Reviews
 

Knowledge-Based Compilations & Reviews examines all applicable compilation and review standards and demonstrates how to conduct engagements in the most efficient and thorough manner possible. "Knowledge-Based Compilations & Reviews" uses a highly effective methodology for performing compilation and review engagements in concert with specifically developed practice aids. The approach uses knowledge of the entity applied to a specific process designed to facilitate the flow of information and increase efficiency and effectiveness. Included are more than 300 practice aids — checklists, questionnaires, workpapers, sample correspondence and sample reports — to take you through all aspects of compilation and review engagements. Knowledge-Based Compilations & Reviews features careful discussion of the relevant professional standards, in-depth analysis and numerous illustrations.

Knowledge-Based Compilations & Reviews reflects pronouncements through the issuance of Statement on Standards for Accounting and Review Services (SSARS) No. 19 (Compilation and Review Engagements — 2009).

CPA's Guide to Effective Engagement Letters
 

We've included every type of engagement letter you could possibly need, from audits, tax preparations and bookkeeping, to business valuations and assurance services. And here's the best part: Every letter can be easily customized and printed. This innovative resource features a collection of case studies on liability issues that illustrate what to do and what not to do with your engagement letters. Over 50 types of letters are covered.

CPA's Guide to Management Letter Comments
 

Developed by a seasoned auditor with more than 30 years of experience in auditing practice for clients in a broad spectrum of industries, CPA's Guide to Management Letter Comments makes it remarkably easy to quickly draft clear management letter comments. In one convenient, logically organized volume, you'll find the correct words and phrases to use in virtually any management letter comment you'll ever need to construct. The guide supplies the specific tools to build the basic structure and body of management letters, from the opening paragraph, to specific comments for all of the critical areas generally encountered during an audit and suggested closing paragraphs. With these expertly prepared comments at your fingertips, you can make clear, concise recommendations to improve operational efficiencies or strengthen control weaknesses, while actively promoting your additional services where the opportunity exists.

Attestation Engagements
 

Attestation Engagements shows you the most cost-effective approach for conducting the many types of attestation engagements. It is filled with practical explanations of the most common types of attestation engagements, reducing the technical language of official pronouncements to easy-to-read and easy-to-understand advice and procedures. Designed to enhance the quality of your practice, it presents an approach that will help you perform your attestation engagements effectively and efficiently.

GAAS Update Service
 

Issued twice a month, you'll receive the latest coverage of Audit Risk Alerts, SASs, SSAEs, Auditing SOPs, Industry Audit Guides and more!