• AICPA Issues Exposure Draft on Internal Control Reporting
  • May 19, 2003
  • Law Firm: Foley & Lardner LLP - Milwaukee Office
  • On March 18, 2003, the Auditing Standards Board of the American Institute of CPAs ("AICPA") released an "exposure draft" setting forth new requirements for auditors to report internal control deficiencies as part of annual audits and quarterly reviews. The proposals include new Statements on Auditing Standards ("SAS") and a Statement on Standards for Attestation Engagements ("SSAE") relating to public companies' internal controls over financial reporting.