Question: If I become licensed without attest experience, and then later on I am able to get 500 hours of experience, would I be able to sign audits and reviews?

Response: Yes, you can add the audit experience at a later date (after receiving the initial license). But the CBA will have to approve the quality of your experience in much the same way that the experience is reviewed by the CBA today before you would be able to sign an audit or review. The exact process is still being developed.

Question: Can a licensee under the new rules who has not met the 500-hour attest requirement sign compilation reports?

Response: Yes, a licensee who has met the general experience requirement may sign compilation reports. Only licensees who have met the 500+ attest experience requirement may sign reports on audits, reviews, or other attestation services.