​​[The following paragraph was effective for audits of fiscal years ending before June 1, 2014. See PCAOB Release No. 2013-007 for audits of fiscal years ending on or after June 1, 2014. The current standard can be found  here.]


A practitioner may be engaged to examine the effectiveness of the entity's internal control over compliance or an assertion thereon. However, in accordance with section 101, the practitioner cannot accept an engagement unless he or she has reason to believe that the subject matter is capable of reasonably consistent evaluation against criteria that are suitable and available to users. fn 4 If a practitioner determines that such criteria do exist for internal control over compliance, he or she should perform the engagement in accordance with section 101. Additionally, section 501, Reporting on an Entity's Internal Control Over Financial Reporting, may be helpful to a practitioner in such an engagement.