Free Site Registration


AICPA Offers Tool for Creating Client Engagement Letters

Print
Email
Reprints
New York (November 20, 2012)

By Michael Cohn

The American Institute of CPAs has developed a new online practice aid that provides customizable sample letters and expert commentary to guide accounting professionals as they lay out terms and objectives for clients.

The Engagement Letter: Best Practices and Examples offers an all-in-one toolkit to help firms establish the terms for auditing, compilation, review and certain attestation engagements, saving time and minimizing the risk of overreliance on last year’s engagement letter.

“This new tool offers the latest guidance on engagement letters that conform to AICPA professional standards,” said AICPA vice president of publications Linda Cohen. “And with additional requirements for engagement letters coming into play under the new clarified auditing standards, this is a perfect resource to help manage the transition.”

The practice aid features an online format and customizable content, and clear distinctions between the required language and optional text. The toolkit has been developed by subject matter experts, with each chapter containing best-practice recommendations. Future updates will be available to reflect changing standards.

For more information, visit the practice aid product page. Subscription discounts are available for members of the AICPA Private Companies Practice Section through the end of the year.

0 Comments

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Accounting Today, please use the form below to login. When completed you will immeditely be directed to post a comment.

 

Follow Accounting Today
Advertisement
Advertisement

Women in Accounting: Where are the Leading Ladies?

May 17, 2013

Marcum’s Nanette Lee Miller and Janis Cowhey McDonagh sat down with managing editor Tamika Cody to discuss some of the obstacles women in the accounting profession face when trying to make their way into leadership positions.

IMA’s Jeff Thomson on the Role and Skills of Management Accountants

May 8, 2013

Institute of Management Accountants president and CEO Jeffrey Thomson discusses why accounting students should consider management accounting as a career, and the IMA's partnership with John Wiley & Sons.

Breaking out of Molds to Get Ahead

May 6, 2013

ConvergenceCoaching partner Jennifer Wilson talks with Accounting Today senior editor Danielle Lee about how female accountants can position themselves better for a promotion at their firms.

Advertisement

SLIDE SHOW

Top 10 Tech Initiatives -- 2013

May 5, 2013

The AICPA's annual list of IT priorities for accounting firms.

Tax Stats: May 2013

April 30, 2013

Our monthly collection of statistics from the world of tax.

10 Biggest Estate Planning Mistakes

April 29, 2013

Help your clients avoid these common pitfalls.

Common E-mail Security Mistakes

April 23, 2013

These five bad habits can make your confidential information -- and that of your clients -- easy to steal.

The Art of the Tax Cartoon

April 9, 2013

A selection of tax cartoons from Philly tax firm Drucker & Scaccetti's 'Finding Humor in Taxes' exhibit.

Advertisement
Advertisement
Advertisement