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More About This Title AICPA Guide Attestation Engagements on Sustainability Information
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New Authoritative Guide for SSAE No. 18 and Sustainability
Organizations are increasingly seeking to add credibility to sustainability information: According to the CFA Institute, 73 percent of portfolio managers and research analysts surveyed take sustainability matters into account when making investment decisions and 69 percent believe it is important that such information be subject to independent assurance.
This new guide will assist CPAs with interpreting and applying the clarified attestation standards (SSAE No. 18) when performing examination or review engagements on sustainability information.
Note: This guide supersedes AICPA Statement of Position (SOP) 13-1, Attest Engagements on Greenhouse Gas Emissions Information. The content of that SOP has been updated for the clarified attestations standards and included in the guide.
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Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.
The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
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Chapter Paragraph
1 Introduction to Sustainability Examination and Review Engagements 01-58
Introduction to Using the Guide 01-04
Introduction to Sustainability Information and Background 05-13
Boundaries (Operational, Organizational, and
Reporting Boundaries) 08-12
Base Year Information 13
Measurement Uncertainty 14-21
Objectives of an Examination of Sustainability Information 22
Objectives of a Review of Sustainability Information 23
Preconditions for an Examination or Review of Sustainability Information 24-50
Assessing the Appropriateness of the Subject Matter 27-32
Assessing the Suitability of the Applicable Criteria 33-38
Assessing the Availability of Criteria 39-40
Assessing the Ability to Obtain Evidence 41-44
Other Preconditions 45-50
Use of Other Practitioners 51
Agreeing on the Terms of the Engagement 52-56
Requesting a Written Assertion 57-58
Written Assertion by the Responsible Party 58
2 Planning the Examination or Review Engagement 01-45
Planning Considerations 01-02
Nature and Characteristics of the Subject Matter 03-10
Organization Structure and Nature of Business 11-13
Organizational and Reporting Boundaries 14-15
Characteristics of the Collection and Reporting Processes 16-19
Consistency 20
Comparative Information 21
Internal Audit 22
Measurement Uncertainty 23-27
Using the Work of an Other Practitioner 25-27
Risk Assessment Procedures 28-32
Materiality in Planning and Performing the Engagement 33-44
Considerations When Selecting and Using the Work of a Practitioner’s Specialist 45
3 Performing Examination or Review Procedures 01-86
Measurement Uncertainty 07-13
Responding to Assessed Risks and Obtaining Evidence 14-17
Procedures 18-30
Tests of Controls 31-33
Procedures Other Than Tests of Controls 34-36
Procedures Regarding Estimates and Measurement Uncertainty 37-40
Sampling 41-43
Fraud, Laws, and Regulations 44-45
Revision of Risk Assessment 46-48
Evaluating the Reliability of Information Produced by the Entity 49-52
Using the Work of a Practitioner’s Specialist or Internal Auditors53-55
Using the Work of an Other Practitioner 56
Evaluating the Results of Examination or Review Procedures 57-77
Considering Subsequent Events and Subsequently Discovered Facts 66-67
Consistency 68-77
Written Representations 78-80
Other Information 81-82
Description of Criteria 83-85
Disclosures of Management Interpretations of the Criteria 85
Documentation86
4 Reporting on an Examination or Review Engagement 01-49
Forming an Opinion or Conclusion 01-09
Measurement Uncertainty 06-09
Preparing the Practitioner’s Report 10-14
Content of the Practitioner’s Report 15-41
Examination Reports 15-17
Review Reports 18-20
General Reporting Guidance 21-23
Reporting Situations Applicable to Both Examination and Review Engagements 24-41
Modified Opinions (Examinations) 42-43
Modified Conclusions (Reviews) 44-45
Correction of a Material Misstatement in Previously Issued Sustainability Information 46-49
5 Performing an Examination or Review Engagement on Greenhouse Gas Emissions Information 01-61
Introduction to GHG Emissions Information 03-17
GHG Emissions Reporting in the United States 05
Terms and Definitions Used by Registries and
Regulatory Frameworks06-07
Scopes for Reporting GHG Emissions: Direct and Indirect
Emissions 08
Boundaries for GHG Emissions 09-11
Base Year GHG Emissions 12
GHG Emission Reduction Projects 13-16
Uncertainty in the Measurement of GHG Emissions 17
Objectives of an Examination of GHG Emissions Information18-19
GHG Emission Reduction Information 19
Objectives of a Review of GHG Emissions Information 20-21
GHG Emission Reduction Information 21
Additional Considerations Regarding Preconditions for an Examination or Review of GHG Emissions Information 22-32
Assessing the Appropriateness of the Subject Matter 22-24
Assessing the Suitability of the Criteria—Additional Considerations Concerning GHG Emissions
Information 25-26
Assessing the Ability to Obtain Evidence—Additional Considerations Concerning GHG Emission Reduction Information 27
Other Preconditions 28-32
Using the Work of an Other Practitioner for GHG Emissions Information33-35
Other Engagement Acceptance Considerations Regarding GHG Emissions Information 36
Requesting a Written Assertion on GHG Emissions Information37
Planning the Examination or Review Engagement 38-39
Obtaining an Understanding of GHG Emissions Information 38
Characteristics of the Collection and Reporting Processes—Consistency Considerations Regarding GHG Emissions Information 39
Potential Misstatements Relating to GHG Emissions Information40
Considerations on Using the Work of a Practitioner’s Specialist in a GHG Emissions Engagement 41
Illustrative Procedures 42-54
Site Visits45-46
Corroboration 47
Techniques to Calculate GHG Emissions and Reductions 48-50
Procedures Specific to GHG Emission Reduction Engagements 51
Considering Subsequent Events 52
GHG Emissions Inventory 53
Evaluating or Considering Adequacy of Disclosure 54
Written Representations 55
Other Information 56
Documentation 57
Reporting Situations Applicable to Both Examination and Review Engagements 58-61
References to the Report of an Other Practitioner in a GHG Emission Reduction Engagement 58
Significant Inherent Limitations 59
Matters of Emphasis 60
Comparative Information 61
Appendix
A Illustrations of Measurements and Measurement Uncertainty
B Characteristics of Sustainability Information and Illustrative Examination and Review Procedures
C Illustrative Representation Letters and Additional Representations
D Illustrative Practitioner’s Examination Reports
E Illustrative Practitioner’s Review Reports
F Illustrative Practitioner’s Report on an Examination of One or More Specified Indicators and a Review of Others, Reporting on the Subject Matter, Unmodified Opinion and Unmodified Conclusion
G Overview of Statements on Quality Control Standards
Glossary
Index of Pronouncements and Other Technical Guidance
Subject Index
