AICPA Issues Technical Q&As
May 11, 2023
The AICPA has issued the following technical Q&As addressing (1) the auditing of
insurance entities and (2) the auditor’s responsibilities related to other
information included in an entity’s annual report:
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Section 6301.01 — Provides guidance for auditors “to consider when determining whether information prepared by a loss reserve specialist who is employed or engaged by management can be used as audit evidence.”
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Section 9165.01 — Revises guidance on the auditor’s reporting options “when an entity issues a document or documents that include the financial statements, the auditor’s report, and some but not all of the other information expected to be included in the entity’s annual report.”
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Section 9165.04 — Addresses auditor reporting in situations in which an entity issues both an annual report and separate stand-alone financial statements on the same date.