If a statement from the Statements on Standards for Attestation Engagements (SSAEs) provides that a procedure...
If a statement from the Statements on Standards for Attestation Engagements (SSAEs) provides that a procedure or action is one that the practitioner “should consider,” then which of the following interpretations is correct?
A) The consideration of the procedure is presumptively required, whereas carrying out the procedure is not required.
B) The SSAEs use this term for special attestation engagements when referring to unusual situations outside the scope of the typical attestation engagements.
C) The practitioner and management must agree on how the procedure will be performed.
D) Carrying out the procedure or action is required in all cases.
Homework Answers
Answer : A) The consideration of the procedure is presumptively required, whereas carrying out the procedure is not required.
Explanation: As and when there an exist an situation where presumptively mandatory requirements applies , the practitioner shall comply with such presumptively mandatory requirements . However in certain circumstances practitioner many not comply with presumptively mandatory requirements considering he documents his justification for non compliance.
Thus when Statements on Standards for Attestation Engagements (SSAEs) provides the words “should consider,” it means that the practitioner should consider the procedure of presumptively required but to carry out the procedure is not required.
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