SSFS No. 1 (AICPA)
Definition
The Statement on Standards for Forensic Services No. 1, issued by the AICPA in 2019. The first binding professional standard specifically governing forensic accounting and fraud examination services provided by US CPAs. Covers independence, objectivity, engagement acceptance, and reporting.
Related terms
- ACFE Fraud Examiners Manual
- The comprehensive reference published by the Association of Certified Fraud Examiners that defines the body of knowledge for the CFE credential. Covers...
- Chain of custody
- The documented chronological record of who collected, handled, transferred, and examined a piece of evidence. For digital evidence, chain of custody includes...
- Expert witness duty
- The obligation owed by a forensic auditor appointed as an expert witness to assist the court, tribunal, or arbitral body objectively, overriding...
- Foreign Corrupt Practices Act (FCPA)
- A US federal statute that prohibits US-listed companies, their officers, and agents from bribing foreign government officials. Applies extraterritorially, meaning the conduct...
- Predication
- The reasonable basis that justifies opening a fraud examination. The ACFE holds that no examination should begin without adequate predication, meaning a...
Explained in
- Legal and Regulatory Framework for Forensic AuditsThe Statement on Standards for Forensic Services No. 1, issued by the AICPA in 2019. The first binding professional standard specifically governing forensic ac...