The AICPA has issued an Invitation to Comment to provide feedback on a project related to materiality in attestation engagements that have non-quantitative subject matter. The ITC addresses the challenges faced by practitioners but also provides examples and guidance on ways to use materiality in these types of engagements. Comments are due Oct. 31.

You can read the 25-page document titled “Materiality Considerations for Attestation Engagements Involving Aspects of Subject Matters That Cannot Be Quantitatively Measured” here:

https://www.aicpa.org/content/dam/aicpa/interestareas/frc/assuranceadvisoryservices/downloadabledocuments/exposuredrafts/materiality-discussion-paper.pdf

What questions do you have? Send your questions to melisa@galassolearningsolutions.com.

Upcoming Broadcast Note: Join Melisa Galasso at 9 p.m. on Tuesday, Dec. 10, for a one-hour credit A&A Rebroadcast Course on “The New AICPA Auditor’s Report,” a must-see for auditors. During SCACPA’s broadcast, Melisa will monitor a live Q&A chatroom.

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members. With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.

Melisa was a speaker on audit topics at SCACPA’s 2019 Spring Splash. Look for her to return this November for Fall Fest as well as many seminars and rebroadcasts.

You can read SCACPA’s Q&A with Melisa conducted during some break time at Spring Splash here.