AICPA Issues Revised Statement on Review Engagements

The AICPA’s Auditing Standards Board has published Statement on Standards for Attestation Engagements (SSAE) No. 22, Review Engagements. SSAE 22 supersedes SSAE 18, Attestation Standards: Clarification and Recodification, as amended, as well as Section 210 of the same title.

The new standard notes that in conducting a review engagement, the practitioner strives to (1) “obtain limited assurance about whether any material modifications should be made to the subject matter in order for it to be in accordance with (or based on) the criteria,” (2) discuss in a report “whether, based on the procedures performed and the review evidence obtained, the practitioner is aware of any material modifications that should be made” and (3) “communicate further as required by relevant AT-C sections.”

SSAE 22 is effective for practitioners’ review reports dated on or after June 15, 2022.

For more information, see the press release on the AICPA’s Web site.