AT 501: An Examination of an Entity’s Internal Control Over Financial Reporting That Is Integrated with an Audit of Its Financial Statements

IMPORTANT NOTE: The guidance in this section applies to engagements for nonissuers. Auditors of issuers and public entities subject to Securities and Exchange Commission (SEC) rules should refer to the guidance in Public Company Accounting Oversight Board (PCAOB) 5, An Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements, and should NOT follow the guidance in this section for the purpose of complying with Section 404 of the Sarbanes–Oxley Act.

EFFECTIVE DATE AND APPLICABILITY

Original Pronouncements Statements on Standards for Attestation Engagements (SSAE) 15, An Examination of an Entity’s Internal Control Over Financial Reporting That Is Integrated with an Audit of its Financial Statements
Effective Date This statement currently is effective.
Applicability Applicable when an independent accountant is engaged to issue or does issue an examination report on the design and operating effectiveness of an entity’s internal control over financial reporting that is integrated with an audit of financial statements.
NOTE: A practitioner may also be engaged to examine the effectiveness of an entity’s internal control over financial reporting as of a date other than the end of an entity’s fiscal year. If so, the examination should still be integrated with the financial statement ...

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