Introduction and Background 1
Scope 2
Overview of the GIPS Standards 3
Compliance With the GIPS Standards 3
Verification 4
Performance Examination 4
Verification and Performance Examination Engagements 5
Engagement Objectives 5
Planning the Engagement 5
Establishing an Understanding With the Client 6
Obtaining Sufficient Evidence 6
Representation Letter 9
Reporting 10
Other Information 12
Effective Date 13
Appendix A–Example Engagement Letter—Verification and Performance
Examination 14
Appendix B–Example Representation Letter 17
Appendix C–Illustrative Attest Report: Verification (Reporting
Directly on the Subject Matter) 20
Appendix D–Illustrative Attest Reports: Verification and
Performance Examination (Reporting Directly on the Subject Matter)
22
Example 1: Verification and Performance Examination Report 22
Example 1A: Illustrative GIPS-Compliant Presentation for Report
Example 1 24
Example 2: Performance Examination Report With a Reference to a
Separate Verification Report 27
Appendix E–Illustrative Attest Report: Successor Practitioner
Report–Verification and Performance Examination 29
Reporting Directly on the Subject Matter (Verification and
Performance Examination Report) in Successor Practitioner’s Report
When the Predecessor Verifier’s Report Is Not Presented 29
Founded in 1887, the American Institute of Certified Public
Accountants (AICPA) represents the CPA and accounting profession
nationally and globally regarding rule-making and standard-setting,
and serves as an advocate before legislative bodies, public
interest groups and other professional organizations. The AICPA
develops standards for audits of private companies and other
services by CPAs; provides educational guidance materials to its
members; develops and grades the Uniform CPA Examination; and
monitors and enforces compliance with the accounting profession’s
technical and ethical standards.
The AICPA’s founding established accountancy as a profession
distinguished by rigorous educational requirements, high
professional standards, a strict code of professional ethics, a
licensing status and a commitment to serving the public interest.
Ask a Question About this Product More... |