September202021
Berdon Quality Control Professionals Provide Insights on Quality Management, Auditing Standards, & Accountant’s Certification
Press Releases
9.20.21 | Press Release
NEW YORK – Berdon Quality Control Partner Bonnie Mann Falk served as a principal drafter of the New York State Society of Certified Public Accountants (NYSSCPA) comment letter on three key proposed statements relating to Quality Management Standards and Auditing Standards being deliberated by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA). Additionally, as a member of the NYSSCPA’s Real Estate Committee, Grace Singer, Partner-in-Charge of Berdon’s Quality Control Department, served as a co-chair of the subcommittee that offered suggested accountant’s certification language for Form TC 309, Accountant’s Certification.
Working with a select team of principal drafters, Mann Falk was involved in developing deeply considered responses to questions relating to A Firm’s System of Quality Management, Engagement Quality Reviews, and Quality Management for an Engagement Conducted in Accordance With Generally Accepted Auditing Standards (GAAS). Areas covered included a firm’s risk assessment process, governance and leadership, and monitoring and remediation, among many others. Overall, the drafters responded with comments and analyses in nine key areas.
As co-chair of the NYSSCPA subcommittee, Singer offered her insights for a draft independent auditor’s report for purposes of Form TC 309, Accountant’s Certification done in accordance with a new auditing standard issued by the AICPA. CPAs licensed to practice in the state of New York are required to follow the Rules of the Board of Regents, Section 29.10 (a)(7)(i) which requires compliance with GAAS established by a recognized national accountancy organization, which includes the AICPA.
The AICPA is a national professional association of CPAs with more than 428,000 members in 130 countries. The NYSSCPA represents more than 22,000 CPAs in public practice, industry, government and education.