In April 2016, the Accounting Standards Board (ASB) released the Statement on Standards for Attestation Engagements No. 18 (SSAE 18) Attestation Standards: Clarification and Recodification. This release is a revised set of standards that practitioners should follow for all attestation engagements starting May 1, 2017.
The ASB released SSAE 18 standards, in part, “to address concerns over the clarity, length, and complexity” of the previous attestation standards. SSAE 18 supersedes the Statement on Standards for Attestation Engagements Nos. 10-17, except for SSAE 15, An Examination of an Entity’s Internal Control Over Financial Reporting That is Integrated With an Audit of Its Financial Statements (AT Sec. 501 and AT Sec. 9501) and chapter 7 (Management’s Discussion and Analysis) of SSAE 10 (AT sec. 701). Please note that while the various types of attestation engagements were previously addressed by separate sets of standards (SSAE 10-17), they are now all consolidated into one set of standards (SSAE 18).
Contributing Author: Jimmy Kurian, Senior in Risk & Transaction Advisory