The American Institute of Certified Public Accountants (AICPA) has updated and issued the following Technical Questions and Answers (TQA) regarding other information and insurance entities.
Other Information Included in Annual Reports:
- TQA 9165.01, Auditor Reporting When the Entity Issues Its Annual Report Subsequent to Its Financial Statements, was revised to provide guidance about the auditor’s reporting options when an entity issues a document or documents that includes the financial statements, auditor’s report and some but not all of the other information expected to be included in the entity’s annual report.
- TQA 9165.04, Auditor Reporting When the Entity Issues an Annual Report and Separate Stand-alone Financial Statements on the Same Date (New), was issued to provide guidance about whether an auditor may issue separate auditor reports when an entity issues both an annual report and separate stand-alone audited financial statements on the same date.
Auditing Insurance Entities:
- TQA 6301.01, Auditor Considerations When Using the Work of a Loss Reserve Specialist Employed or Engaged by Management as Audit Evidence (New), was issued to provide guidance for the auditor of an insurance entity to consider when determining whether information prepared by a loss reserves specialist who is employed or engaged by management can be used as audit evidence.
