The American Institute of CPAs’ Auditing Standards Board is proposing changes in subject-matter specific attestation standards.

The exposure draft, Proposed Statement on Standards for Attestation Engagements (SSAE) Subject-Matter Specific Attestation Standards: Clarification and Recodification, builds on the general attestation standards in the proposed SSAE attestation Standards: Clarification and Recodification. It is the second exposure draft that the AICPA’s Auditing Standards Board has issued as part of its Attest Clarity Project (see AICPA Proposes Changes in Attestation Standards).

The new exposure draft restructures the content of AT section 301, Financial Forecasts and Projections; AT section 401, Reporting on Pro Forma Financial Information; and AT section 601, Compliance Attestation (AICPA, Professional Standards). The proposed SSAE would supersede the earlier AT sections. The most significant changes to the existing standards are described in an explanatory memorandum in the document.

The AICPA is asking for feedback on whether the revised structure facilitates understanding and implementation of the standards, which is one of the main goals of the Clarity Project. Comments are due May 27.

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