The Auditing standards Board (ASB) has proposed a new statement of auditing standards (SAS). ASB issued an exposure draft called Forming an Opinion and Reporting Financial Statements of ERISA(employee benefits plan Subject to Employee Retirement Income Act of 1974).This new proposed standard was initiated due to a 2015 report from the Labor Department criticizing the method in which employee benefits plans were being audited by CPAs. The Labor Department identified serious deficiencies in 39 per

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The AICPA Auditing Standards Board ASB issued a Statement on Auditing Standards SAS No 136 Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to Employee Retire... View the full answer