- The American Institute of Certified Public Accountants (AICPA) recently released an updated Service Organization Controls (SOC) 2 report audit guide with a number of enhancements that impact SOC 2 reports.
- Boards and management need tools like a SOC report review template to assist them in ensuring they are aware of any risks posed by, and the internal controls around, third party vendors.
- On July 9, 2015, the FASB approved its April 2015 proposal to defer the effective date of ASU No. 2014-09, Revenue from Contracts with Customers, for all entities for one year. Entities will, however, be allowed to apply the new standard as of the original effective dates set out in the standard. This article examines the revenue recognition standard and explains why the FASB granted an extension.
- We are pleased to have the opportunity to provide feedback to the AICPA Assurance Services Executive Committee (ASEC) Trust Information Integrity Task Force's Privacy Working Group with respect to its recent Proposed Revision of Trust Services Principles and Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy.
- The AICPA recently released an exposure draft of the proposed revisions to the Trust Services Principles and Criteria. The most significant change in the proposed revisions is the integration of the privacy principles and criteria into the common criteria.
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