The AICPA has issued a Technical Q&A to address common questions regarding what qualifies as a third-party assessment and which standards including independence should be applied by the third party. The TQA provides guidance on what qualifies at a TQA, which independence rules apply and which standards can be used by CPAs.
Call to Action: Which standards do you use when performing or requesting a third-party assessment?
“Q&A Section 9550: Performing a Third-Party Assessment Engagement Under a Third-Party Assessment Program”: https://www.aicpa.org/content/dam/aicpa/interestareas/frc/downloadabledocuments/tqa-sections/tqa-section-9550-01-02.pdf
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. Melisa is a speaker on audit topics at SCACPA’s annual Spring Splash and Fall Fest conferences. She also takes part in many SCACPA seminars and rebroadcasts.
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.