(A)
The
term "
attest
attestation engagement,"
for the purposes of this rule, is defined
as
one
an agreement
that describes a business relationship between a client and an Ohio permit
holder or public accounting firm that defines the scope, terms, and costs of
the agreement in which
an
the Ohio permit holder
or
firm
is engaged
agrees to issue or does issue an examination
report, a review report, or an agreed-upon procedures report on subject matter,
or an assertion about the subject matter that is the responsibility of another
party.
(B)
Examples of attestation engagements include audits,
financial forecasts and projections, reports on pro forma financial
information, reports on an entity's internal control over financial reporting,
compliance attestations, "WebTrust" examinations, "SysTrust" examinations, and
examinations or reviews of a management's discussion and presentation prepared
in accordance with the rules and regulations adopted by the "Securities and
Exchange Commission." The listed examples are not intended to be
all-inclusive.
(B)(C) An Ohio permit
holder shall not be associated with any
attest
attestation
engagement
, defined in paragraph (A) of
this rule, unless the Ohio permit holder
or firm
has complied with the applicable standards for attestation engagements defined
in paragraph
(C)
(D) or
(D)
(E) of this rule
, as
applicable.
(C)(D) Attestation
standards for government agencies or entities receiving significant federal
financial assistance are defined in the "Government Auditing Standards" issued
by the "Comptroller General of the United States" and published on the
"Government Accountability Office" website (
www.gao.gov).
(D)(E) Attestation
standards for all entities except those specified in paragraph
(C)
(D) of
this rule are defined as "Statements on Standards for Attestation Engagements"
issued by the "American Institute of Certified
Public Accountants"
as part of "AICPA
Professional Standards" and published on its website (
www.aicpa.org)
.
as part of "AICPA
Professional Standards."
(E) Examples of attest engagements
include financial forecasts and projections, reports on pro forma financial
information, reports on an entity's internal control over financial reporting,
compliance attestations, "WebTrust" examinations, "SysTrust" examinations, and
examinations or reviews of a management's discussion and analysis presentation
prepared in accordance with the rules and regulations adopted by the
"Securities and Exchange Commission." The above examples are not intended to be
all-inclusive.
Notes
Ohio Admin. Code
4701-9-05
Effective:
10/20/2021
Five Year Review (FYR) Dates:
7/27/2021 and
10/20/2026
Promulgated
Under: 119.03
Statutory
Authority: 4701.03
Rule
Amplifies: 4701.03
Prior
Effective Dates: 01/17/1975, 04/26/1996, 01/01/1999, 08/05/1999, 10/22/2004,
08/25/2005, 12/14/2012, 12/12/2016
