[Anonymous]

I can’t believe how long it took me to get this straight, but just to check that I do.

I kept reading that the clarity standards superceded GAAS, but that the opinion still said “performed in accordance with GAAS.” (for non-public companies). Huh?

So, in short, the clarity standards are GAAS. They’re just a clearer, more operationally defined, codified GAAS. It’s the general/field work/reporting framework that went away, along with the number 10, as in 10 standards. Well for the non-issuers anyway, the PCAOB still uses something like the old GAAS standards.

I still don’t get why the CPA exam doesn’t require you to know both the traditional (extant) and the clarity. Why would they stop testing this if it’s so relevant to public company audits?

[ruggercpa2b]

If I remember correctly the 10 standards are still covered in my review course and they are in the Ninja notes as well. The clarified standards were introduced, however, I think I remember reading somewhere that you still have to know the 10 standards since they still may be tested.

AUD - 73, 72 retake 7/2/2016
BEC - 8/20/2016
REG - TBD
FAR - TBD

I am so ready for this nightmare to be over. Been at this way too long.

[taxgeek83]

It's been almost 2 years since I took AUD and I don't work with the material much, so someone please correct me if I'm wrong, but I think the clarified standards are GAAS, just…clarified. Try this:

https://www.aicpa.org/InterestAreas/FRC/AuditAttest/DownloadableDocuments/Clarity/Clarity_Project_QAs.pdf

https://www.aicpa.org/interestareas/frc/auditattest/pages/improvingclarityasbstandards.aspx

[ruggercpa2b]

Yes the clarified standards are GAAS.

AUD - 73, 72 retake 7/2/2016
BEC - 8/20/2016
REG - TBD
FAR - TBD

I am so ready for this nightmare to be over. Been at this way too long.

[Anonymous]

Was wondering about this. I have the Ninja CPA Notes and the Gleim Review System. The attestation standards are different between them. Where the Gleim book mentions 11, Ninja notes mention 10. The standards in reporting is where the major difference is.

Are they two different standards or has one superseded the other and one material is not updated?

[Author]

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