PSC Shared Input on ASB's Proposed Statement on Standards for Attestation Engagements
The PSC supports the ASB’s proposed SSAE, agreeing it modernizes attestation standards and effectively addresses sustainability reporting. The committee offered several recommendations to enhance clarity, implementation and practical application.
The TXCPA Professional Standards Committee (PSC) provided feedback supporting the AICPA Auditing Standards Board’s proposed SSAE updates covering attestation engagements and sustainability reporting. Overall, the PSC agrees the proposal appropriately modernizes standards to address evolving nonfinancial reporting and supports its issuance.
The PSC broadly agrees with key elements of the proposal, including the adoption approach, effective date, structure of the standards, use of evidence, alignment with GAAS, and reporting changes. It also supports the inclusion of management’s responsibility for internal control in sustainability reporting and the principles-based approach of the standards.
The PSC offered several recommendations to enhance clarity and implementation, such as adding practical examples related to scalability, evidence, internal controls, and “other information” in sustainability reports.
One notable disagreement is the proposal not to require communication with predecessor practitioners for sustainability engagements, which the PSC believes should be mandatory.
In summary, the PSC supports the proposed SSAE, with targeted suggestions to improve clarity, consistency and practical application.
Read the Exposure Draft here. View TXCPA PSC comment letter here.
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