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:
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.”
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.”
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.